n A Netherlands-based company has pioneered a way to harvest energy from body heat to power cryptocurrency-mining computers – but is it really worth it MININGn
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Power Ledger Partners with Thai company for Distributed Renewable Energy Trading
With all eyes on the top cryptocurrencies, some of the smaller altcoins can get lost in the buzz. This can be a pity when a good number of them have seriously good real-world applications. Once such digital asset has been developed by blockchain energy firm Power Ledger.
A recent Medium post reported that Power Ledger has announced an agreement today with government-backed renewable energy developer BCPG to bring peer-to-peer renewable energy trading to Thailand. The initiative is a first of its kind in Southeast Asia where the two firms will work together to develop a Bangkok based microgrid which will consist of 6 to 10 multi-story apartment buildings.
Using the Power Ledger blockchain and energy trading platform building managers will be able to trade energy generated from between 1 and 2 Megawatts of embedded solar. BCPG will be sourcing the bank in Thailand that will start accepting autonomous financial settlements via a secure banking interface.
President Bundit Sapianchai was optimistic about the collaboration:
“Innovation is at the heart of BCPG. And we are excited to be working with Power Ledger. This will help reduce the government’s investment in building large-scale power plants to meet the growing demand for electricity and at the same time offer customers and consumers a greater choice of electricity from renewable energy in the form of Peer-to-Peer energy trading,”
Power Ledger managing director, David Martin, also commented on the alliance:
“Renewable microgrid developments allow for the efficient installation and operation of generation capacity close to consumers, we’re really proud to be working with BCPG to bring this technology to South East Asia. The autonomous nature of the trading platform means it’s simple and low-cost and bringing this together with on-site generating capacity means energy can be low-cost, low-carbon and resilient to the impacts of severe weather conditions,”
POWR has shown steady increases over the past three months without the unpredictable spikes that other altcoins have seen. It has risen from .05 to over a dollar during the period, climbing to an all-time high of .17 just a couple of hours ago. There are 1 billion tokens in total with 352 million in circulation, market capacity is currently just over 0 million. Top places to trade are Bittrex and Binance with almost 90% of the total volume combined.
Unlike many other vanity coins, Power Ledger uses the blockchain to provide solutions for real-world issues and therefore is likely to have a bright future.
Cover Image via Power Ledger
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4New’s Blockchain Based Ecosystem to Revolutionize “Waste to Energy” Utility Sector
4New, world’s first tangible and eco-friendly waste to energy blockchain solution is pushing the energy manufacturers to adopt blockchain technology and revolutionize the Utility Sector, while bringing a positive disruption in the industry. 4New is the first platform to convert waste, collected from households into energy and then sell it back to them, national grids and aggregators. Though the idea of converting waste into energy is not a new one, yet it is for the first time that any initiative has integrated the whole tangible supply chain from waste collection to energy sale, onto blockchain network.
The Blockchain Based Ecosystem for Waste to Energy Conversion
It cannot be denied that blockchain technology is a powerful platform for growth of global economy. The technology is here to stay and even getting more popularity with time across the globe due to its trustless nature and transparency.
4New has launched its utility coin, 4New Coin in its on-going ICO to be ended by December 15, 2017. The 4New Coin works as a “Coin as a Service” to all stakeholders, consumers, industry peers, associates and early adopters. The open source, decentralized blockchain based platform encourages value-based exchange between B2B, B2C and C2C, spotted in waste and energy markets.
4New Coins are utility tokens developed on Smart Contracts that form a binding connection between executing parties, thus, eliminating middlemen or intermediaries and provide an incentive to every exchange on the platform. The ledger provides an auditable and immutable record of all buying and selling transactions of energy and waste, empowering 4New Coin to be a global medium of transaction amongst buyers and companions for all waste and energy administrations .
Smart contract over blockchain platform makes direct payment possible, from consumer to producer, eliminating the need of middleman in between. The smart contract immediately pays for the products or services supplied just after the delivery. This is a big relief for the producers as mistrust and lack of transparency have been the biggest obstacle to demand and supply. It will encourage the energy manufacturers to integrate utilities on blockchain, and, also users to pay for these utilities through cryptocurrencies. Through smart contract based transactions, users will also get hope, orderliness and peace of mind to cater their energy needs effectively. This practice will eventually result in widespread adoption of cryptocurrency worldwide.
Moreover, 4New blockchain platform is to be integrated with 4New Smart Meter, which will provide feedback to the manufacturers after tracking and monitoring consumers’ energy consumption, to help them provide stabilized energy supply to their consumers.
To know about the platform and participate in its on-going ICO, please visit https://www.4new.co.uk/
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Bitcoin Mining Energy Consumption Increases Drastically
With all eyes looking at the charts and wondering when Bitcoin will ever stop its upward march over ten thousand dollars, many overlook what is actually involved in creating one. According to reports, the popularity of Bitcoin has created a global surge in energy consumption. Digiconomist’s Bitcoin Consumption Index claims that the current estimated annual electricity consumption is over 30 TWh.
A TeraWatt hour is a pretty big number and equates to 1012 (1 followed by 12 zeros) watts per hour – which is a lot of energy. That is the equivalent of around 0.14% of total global electricity consumption. It doesn’t sound a great deal but Bitcoin mining is currently using more electricity than 159 countries. Almost 10 US households can be powered for one day by the electricity consumed for a single Bitcoin transaction. With a continuous power drain of 3.4GW, the BTC network consumes five times more electricity than is produced by the largest wind farm in Europe.
This colossal amount of energy is used to power the computers and graphics processors which do the number crunching to mine Bitcoin. Mining is the process by which blockchain transactions are verified and added to the public ledger. As the block reward becomes harder to mine more energy is required to carry out the calculations in this computational arms race. If Bitcoin miners were their own country they would rank 61st in the world for electricity consumption. This puts them above Ireland and Nigeria.
According to the report, Bitcoin mining energy consumption has increased by almost 30% in the last month alone. The monumental rise in price has created a flurry of interest as people want to jump on the gravy train. Many are unaware of the mathematical complexities that mining involves and the level of hardware and power required doing it. As much as 80% of the mining is currently done in mega-factories in China where banks of computer rigs and fans stretch away as far as the eye can see. Companies rent these rigs out to individuals who get a cut of the mining action.
In comparison one of Visa’s two US data centers reportedly runs on around 2% of the power required by Bitcoin. Between them, those two servers conduct around 200 million transactions a day while the Bitcoin network handles less than 350,000. With Bitcoin’s price increase over tenfold since the beginning of the year and this unsustainable energy draw in keeping up with it, many speculate that the bubble may soon burst.
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Australian Government Grants $8 Million for Blockchain Energy Pilot
The Australian government has announced that it will provide over AU million in grants for a blockchain-powered smart utilities project.
CoinDesk
4NEW Initiates Production of Its First Waste to Energy Plant for $24.83 Million USD
LONDON – Nov 11, 2017 – 4NEW, the company operating Waste to Energy treatment plants today announced a giant leap forward. 4NEW has ordered the production of its first Waste to Energy plant for a staggering USD .83 Million with delivery and subsequent installation of equipment to occur within 6 to 8 months between May and July 2018.
The first 4NEW plant will have a waste processing capacity of 72 tons per day of RDF, SRF, TDF, tyres, plastics, medical waste, carpets, textiles, wood wastes, oil liquid waste, chemical waste, raw food packaging, animal by-products and any type of hazardous and non-hazardous waste.
The plant will be able to generate 120 megawatts of power per day which totals 43,800 megawatts of power per year. As part of the deal, 4NEW will also procure insurance coverage to secure its revenue from any equipment failure, or unforeseen acts of God.
“What this means for the company and its investors is that the first Waste to Energy site could be operational and in production as soon as July 2018; 5 months earlier than previously anticipated. We are exuberant about the prospects of pleasantly surprising our investors with early production of our goods and services. Additionally, the company’s annual sales will be protected by insurance coverage, thereby securing 4NEW and its investors from any unpleasant, unforeseen events with the plant once its operational.” said Sandeep Golechha, CEO of 4NEW.
The plant will drive annual sales of approximately Million USD under current capacity, however, 4NEW can add additional waste processing lines to their plant as additional funds are raised thereby increasing output by 4 times per site. 4NEW also has options with lenders to explore debt financing in order to complete targeted acquisitions over the next 6 to 9 months.
The plant equipment has been ordered through Eco-Green Power Limited, a UK based plant production company. Eco-Green currently has three sites where their plants are in operational use. These include, 2 sites in Finland and 1 site in Denmark. “With such a seasoned equipment production company acting as our partner, we are confident that expeditious turnaround will be feasible,” stated Mr. Golechha.
Last month, 4NEW successfully secured a million round of funding from Mirach Capital Group, a US based private equity fund. These funds were allocated towards the purchase of 4NEW’s first plant site and equipment installation costs.
“4NEW’s business model has demonstrated significant foundational strength whereby Mirach Capital has observed great interest from other institutional partners to form join venture affiliations in order to invest in the project. To successfully mobilize an investment funding round to the tune of USD 0 Million, usually requires a large percentage of dollars to be raised from institutional investors and then a small percentage from the general public.” stated Mark Ryan, CFO of Mirach Capital.
Although, 4NEW intends to scale operations globally, the initial launch will occur in the United Kingdom. The UK’s waste management industry has a total annual turnover of billion USD with approximately 200 million tonnes of waste processed per year. There are approximately 70,000 people employed in the sector across 3,000 companies. This market sector is under developed as technological advancements seen in other industries have been held back or are slow to materialize. The size of the UK waste market alone is over 120 billion USD annually.
The UK is also facing an unprecedented “energy gap” in a decade’s time, according to the Institution of Mechanical Engineers (IMechE). With demand for electricity likely to outstrip supply by more than 40%, widespread blackouts are within the realm of possibility.
About 4NEW
4NEW, will revolutionize and standardize the industries of Waste and Energy by offering services as a wholesaler within the Utilities sector that is fully integrated onto a decentralized, distributed ledger enabling all actors within the industry to trade waste and energy transactions using the 4NEW Coins towards payments within the 4NEW ecosystem.
The 4NEW coins are utility tokens with built-in smart contract capabilities. They establish a binding relationship between two transacting parties and provide a value for each transaction. The ledger on the 4NEW ecosystem provides an immutable and audit-able journal of all transactions related to the buying and selling of energy and waste. Each transaction is transparent to all parties which allows them to see the same ledger entry and cost of reconciliation thus controlling issues of dispute and revenue leakage to a great extent.
Website: www.4new.co.uk
Video Link: https://www.youtube.com/watch?v=UjqcsBQkAwE
Telegram – https://t.me/joinchat/EgIZbBDLYGHlhtbSS58i-Q
Facebook – https://www.facebook.com/4newcoin/
Twitter – https://twitter.com/4newcoin
Instagram – https://www.instagram.com/4newcoin/
LinkedIn – https://www.linkedin.com/company/4new/
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4NEW Initiates Production of Its First Waste to Energy Plant for $24.83 Million USD
LONDON – Nov 11, 2017 – 4NEW, the company operating Waste to Energy treatment plants today announced a giant leap forward. 4NEW has ordered the production of its first Waste to Energy plant for a staggering USD .83 Million with delivery and subsequent installation of equipment to occur within 6 to 8 months between May … Continue reading 4NEW Initiates Production of Its First Waste to Energy Plant for .83 Million USD
The post 4NEW Initiates Production of Its First Waste to Energy Plant for .83 Million USD appeared first on NEWSBTC.
Shell, BP Among Energy Giants to Back Blockchain Trading Platform
The energy industry has been getting more complex and it needs greater standardization to lower costs to participants and consumers.
CoinDesk
Each Bitcoin Transaction Uses As Much Energy As Your House In A Week
While Bitcoin bulls will probably never have it so good as they have in 2017, we wonder whether many of them have stopped to think about the …
BitNewz.net
US Government Research Lab Eyes Blockchain in Energy Data Tests
A research lab within the U.S. Department of Energy has revealed it is exploring the application of blockchain in next-generation power grids.
CoinDesk