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Wednesday, May 9, 2018

SIMMITRI - The Energy Economy Built For The Future

Website: http://token.simmitri.com/


SIM is the energy economy built for the future. Born within an elite solar company now known as Simmitri (simmitri.com). SIM is the economic bridge that will fast track such relationship, providing a self-sufficient and decentralized network powered by artificial intelligence (AI), communicated through Internet of Things (IoT) and audited by blockchain technology.

SIM is the cryptocurrency token generated from “SimBox”, built to balance power between the consumer, prosumer, innovators and utilities. The energy conservation efforts inside the building generates negative kilowatt hours “Negawatts” that convert to an automatic output of SIM tokens that can be used for your economic benefit. Either way, SIM provides the consumer and prosumer with the incentive to reduce individual energy consumption, distribute to those who are in need and lighten the footprint we all stamp on Mother Nature.

SIM is an ERC20 compliant token that serves as the utility of the blockchain. Using the Ethereum blockchain, SIM leverages the commonly used public ledger to have no central point of failure and to create security through cryptography. The SIM token is a base currency in the exchange and allowed to provide the electric load reductions as a ‘bid’ in a wholesale energy market. Through partnerships, SIM tokens can be issued based on Negawatt earnings and used as a currency for various options:

  1. Bill payment to utility provider for power usage
  2. Upgrades from HEMS products and services
  3. Trading SIMs for RECs, carbon credits and other energy products
  4. Zero-fee transactions on cloud exchange

Consumers (homeowners, business owners, property managers, etc) have the ability to interface with the Simmitri exchange and have complete control over their energy profile. In conserving energy, the data metrics have demonstrated to generate Negawatts and to produce validation parameters on the blockchain to execute smart contracts, which in turn earns tokens, producing revenue for this user based on how much energy was saved. The user is then empowered to decide what they wish to do with the earned SIM tokens.

A large focus in the Simmitri economy has been put on this participant because there is a long list of incentives that comes with conserving energy. Most homeowners and business owners who are looking to take advantages of public incentives like tax credits, cost savings or energy sellbacks are looking to adopt alternative technologies to earn such incentives. The SimBox acts as a digital meter to constantly audit energy usage and automatically references incentives they may be eligible for.


FEATURES

  • Distributed Energy Resources (DER)

Distributed energy resources (DERs) are electricity-producing resources or controllable loads that are directly connected to a local distribution system or connected to a host facility within the local distribution system. During high energy demand times and when the grid 19 is stressed, the utility company sends the Simmitri Cloud a request for its aggregate of customers to cut consumption as a demand response initiative.



Simmitri provides the tools for current utility and government energy savings to programs to be more efficient and effective by significantly affecting the timing imbalance between peak demand and renewable energy production, also referred to as the “duck curve”. By acting as the gateway between the utility providers and the home's devices, users receive requests from utility providers to cut consumption and will automatically conserve energy based on unneeded usage at that time.


  • Home Energy Management Systems (HEMS)

The home energy management systems (HEMS) market innovators have developed a fairlylarge  amount of utility-facing products as well as customer-facing systems. However, there are some issues that are repeating themselves in what has happened in the traditional grid over the decades considered to be patchwork on top of patchwork.

SimBox connects to the smart plug or any HEMS device determining the parameters needed to be energy efficient. The data is absorbed from the devices backend database and is used to determine power supply. If parameters are met and smart contract is executed, the user receives SIM as well as gamifying their profile.


  • Simmitri Cloud Exchange

When Simmitri discovered how the technology could not only communicate with utility needs, customer needs and HEMS services, Team also learned that the advanced data collected could be incredibly useful to solve a multitude of other ancillary services. Simmitri is now in a position to facilitate an economy in which conservation, generation and demands interact efficiently. The growing energy market trend is in a peer-to-peer, decentralized model whereas consumers can participate in a trade economy to satisfy their energy needs.



The incentives for a Simmitri Negawatt market include receiving fiat money, SIM tokens, reduction of national energy dependency and the local electricity deregulation within certain nations or states. As for the cost incentive, those who produce Negawatts or simply conserve energy can earn tokens by selling the saved energy in the Simmitri market. Cost for Negawatt power can be calculated using cost-effectiveness analysis or CEA. For energy efficiency investments a CEA calculation produces the value of saved energy or Negawatts in $/kWh. Such a valuation allows comparing the price of Negawatts with price of energy such as electricity from the grid or the cheapest renewable alternative.

Gamification is the new way to empower the community and increase the utility of the token within the ecosystem. As energy conservation is one of the main goals for competition between buildings, this would increase the motivation even more. A dashboard, connected with a social media app, is presented with ratings of homes/buildings that saved the most electricity on a weekly/monthly basis, or even in real-time. A certain pool of tokens will be distributed by airdropping each day/week/month among the top energy-saving participants.

As the ecosystem of users seek energy-saving strategies, this could become very attractive for energy-saving device manufacturers or HEMS. Token holders would be eligible for special discounts on devices offered from manufacturers and become increasingly more engaged in their own data results.

As a token holder, the longer users hold tokens, the bigger the discount received or bonuses earned. Such benefits would motivate users to hold their tokens for a longer term and also shall result in the value of tokens to increase.

SIMMTRI BLOCKCHAIN TECHNOLOGY


Public blockchain enables everyone to use the network, initiate transactions, read data and join the network as miners. The bigger the network, the more secure it is. Private blockchain is maintained by a closed network of nodes, or even a single entity. Therefore, for transparency and token economics features, public blockchain is preferred for this case.

Market trend, programming possibilities and community with the Ethereum Blockchain and the
functionality of smart contracts brings this solution as the main option. Using SIM as an Ethereum-enabled code executes the smart contracts in a decentralized fashion. This means that on the blockchain we can move not only value, but also implement rules, according to which that value can be moved. Each transaction within the Ethereum network cost gas (fees). Therefore, to interact with the Ethereum network, wallets within the SimBox will have to own some amount of ETH currency to be able to initiate transactions of SIM tokens and pay the gas cost for each transaction within the network.

Allowing SimBox owners to instantly exchange their cryptocurrency (e.g. SIM or ETH) to fiat currency and transfer instantly to credit card can be done through ShapeShift or Changelly by integrating with their public API. The platform will utilize smart contracts and the Ethereum blockchain to increase the transparency, network effect and automation. The smart contracts described below will be used within the platform. As the SimBox’s backend is used for storing information about the user and household electricity usage,


ROADMAP

Q1 2018

● Design, technical and production line strategy specs for Simibox
● Primary and secondary rules roster for SIMI AI functions
● Simmitri Token (SIM) applied to be listed on crytpocurrency exchange(s)

Q2 2018

● Customer wallet (dashboard) finalized for earnings and transfers
● Integration testing of blockchain and data collection in open API networks
● Established market maturity for implementation and partners (analysis)

Q3 2018

● Manufactured Simibox prototype v.01
● Launch smart home incubator program
● Beta testing of local market sample group

Q4 2018

● Integration of Simibox into current client list and pipeline
● Analysis of deep metrics from beta testers
● Applications filed for state incentives for renewable energy providers


PARTNERS





USEFUL LINKS






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