OFF GRID ENERGY ACCESS
• According to the World Energy Outlook, 1.2 billion people don’t have access to electricity while many others don’t have access to reliable electricity.
• Farmers already pay for lighting and hazardous fuels. Bitlumens brings cost competitive decentralized energy systems through off grid solar devices which not only displace kerosene usage with efficient Light Emitting Diodes (LEDs), but also reduce the dangerous side effects produced by combustion.
Usually only a small portion of rural inhabitants have access to electrification. Most of these communities depend on inefficient and hazardous fuels, such as biomass, kerosene, plastic, battery torches and candles. Fuels and its combustion process contribute to the release of greenhouse gases (GHG) into the atmosphere. Among those fuels, kerosene is a source of CO2 and black carbon. Replacing all kerosene lamps worldwide with solar lights could serve as short-term action to reduce global warming while providing more efficient technologies in places where they already pay for fuels.
Kerosene and biomass powered wick lamps are far less efficient than solar powered LED lanterns. Kerosene wick lamps provide 1 to 6 lumens per square meter. LED has higher efficiency – measured in lumens per watts- quality and quantity of lighting when compared to kerosene lamps. The use of LED lanterns entails reductions on greenhouse emissions and operating costs.
• BitLumens decentralizes the power market in developing countries where there is no power grid, leveraging on Internet of Things (IoT) and the Blockchain.
• Bitlumens provides women farmers with off grid solar devices equipped with sensors which they
amortize in installments using BLS tokens.
• The hardware consists of a solar panel, a battery and efficient appliances such as LED lights and solar pumps to extract underground water. Initially, our Solar Kit uses a 15/20/50W solar panel and 3000 mAh, 3.3 Volt Lithium Ferro-Phosphate (LFP) Battery. The latter, lasts for approximately 5 hours.
Our systems come with different appliances, i.e. two USB charging ports; integrated dimmable LED lights; LED Backlit LCD TV; Radio and TV. The solar kit is connected to a smart meter and to the user’s cell phone. The company integrates air quality sensors and programmable logic controllers (PLC), allowing the measurement of particulate matter and current. The company uses edge computing to connect all sensors within a 10 Km range. Bitlumens will provide ownership of the technology once all installments have been paid, with the option to receive a larger system after the last payment has been made. Bitlumens collects data from each user, for instance, Know your Customer (KYC), transactional data and their power consumption. This allows Bitlumens to provide their unbanked customers with a credit score which in turn facilitates financial inclusion.
Once the company has gathered data from each village, it can place a mini grid based on the energy consumption and power generation in each location. Rural villagers will be able to pay for their energy consumption using BLS tokens. BLS tokens can also be used to send a remittance to cover the electricity and water bills of their family members. The project relies on agents to install the hardware to the homes of the women farmers. Agents are also responsible to collect KYC information of our customers. Women farmers pay the hardware directly to our agents. Agents will input these amount in our software and buy tokens from the secondary market which in turn will serve to run the hardware. If one of our users fail to make one of the installments the machines are automatically locked.
Our agents have internet, allowing them to trade BLS tokens needed for each household to run their solar home system (SHS). Women farmers are notified by text message when the solar device is running out of credit. Bitlumens chooses women farmers because data shows they are more reliable than men when paying back a microcredit, reducing the default risk of the project.
TOKEN SPECIFICATION AND ICO RULES
• BLS token is an ERC20 utility token, and aims to provide social and environmental transformation, where all proceeds will support the development of the software and MVPs currently placed in Guatemala.
• The utility tokens are initially distributed in a presale (pre-ICO) which starts on April 26 and lasts until April 30 at midnight CET.
A maximum of 10 million BLS tokens are offered during the 72-hour pre ICO at a price of 1000 BLS /ETH. Only payments in ETH are accepted. Bitlumens assists parties preferring to participate in the pre ICO in fiat currency. If all 10 million BLS were sold in the pre ICO about USD 9 million would be raised (assuming a ETH/USD rate of 900). Tokens that were not allocated in the pre ICO will be added to the ICO pool.
The duration of the ICO is 28 days. It starts on May 1 at midnight CET and is divided into 4 periods. On the first day of the ICO BLS tokens are offered at a price of 700 BLS /ETH. Between the 2nd and the 7th day, the price is 650 BLS/ETH and between the 8th and the 14th day the price increases to 600 BLS /ETH. Finally, during the last 14 days of the ICO the price is 550 BLS/ETH.
The ICO will terminate early, if an equivalent USD 25 million is raised. This amount corresponds to the projected funding and investment needs for a period of 3 years. The total supply of tokens is capped to 50,000,000, with the smallest available denomination being 0.0001. The code for the smart contract is open source and placed in Github.
ROADMAP Currently, Bitlumens follows these milestones in Latin America:
• The deployment of 100 off grid solar devices by the end of April 2018 in Guatemala. We are already training the agents who are the distributors of the off grid solar devices.
• Adding the software to run the hardware using BLS tokens by the end of May. • The deployment of IoT to track carbon and black carbon mitigation. • After June we will expand the number of SHS in operational locations.
Veronica Garcia was an investment consultant at Credit Suisse and UBS for Latin American Asset Managers. After finishing her graduate studies at the ETH in Zurich she joined IBM Research Lab where she focused on exergoeconomic analysis of solar plants. She also worked as a consultant for the World Bank, IADB and Castalia. Her research focused on renewable technologies and on quantifying investment needs to reach the country targets for renewable power generation. In 2017 she founded BitLumens which brings solar power and water to rural areas in developing countries using Internet of Things (IoT) and blockchain technology.