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What is a DAO? Is this something new?

The DAO is now the biggest crowdfunded project of all time. In less than a month the organisation has a market cap of $140 million. So what is the DAO really? And why should you care? Simply put, the DAO is a self-running company. It has no directors, no managers and no employees — at least not in the conventional sense of the words. DAO stands for ‘Decentralised Autonomous Organisation’ and it’s powered by a crypto currency called Ethereum. To better understand how the DAO works requires a quick explanation of Ethereum. This is the future of trust..

Money is the second most important thing human beings have invented, after language. More than just a way of buying things, currency is a symbol of trust. Until now, that trust has relied on central authorities, like banks, for verification. We no longer need those monolithic entities thanks to cryptocurrencies like Bitcoin. Ethereum, like Bitcoin, is a cryptocurrency and, like other cryptocurrencies, Ethereum is built on a blockchain. What makes Ethereum different, however, is that it has been designed as a platform for ‘smart contracts’, allowing anyone to create a trust agreement without requiring middlemen.

Bitcoin was designed to be both a currency and asset. Its blockchain can also be used for other forms of transactions or contracts, but it isn’t easy to build out these applications yet. Ethereum, on the other hand, was designed for contracts from the get-go and makes it easier for developers to build applications accordingly.

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Economics of DAO - Decentralised Autonomous Organisation

The DAO will act like a decentralized global insurance fund to ensure Utilities (and businesses) always have access to funding (which constantly runs out) for subsidizing L.E.D. sales to their energy customers (or for businesses and people to overcome the upfront cost of upgrading to L.E.D.s)

 

The DAO will be funded and used by:

  • Utility Companies

     

  • L.E.D. Sellers

     

  • Businesses

     

  • Token Holders

     

  • Energy Customers Worldwide

     

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Roadmap

Our priorities as a business and where we're taking Terawatt LED next

2017
Project Conception, Whitepaper Drafted, Patent Filed
December 2017
Team Building - Acquired CTO, COO and Advisors
January 2018
Whitepaper/Website, Trademark Granted, Listen on KICKICO
February 2018
Building Presence, Token Presale, Site Under Development
June 2018
Private Sale Launch, Development
August 2018
PreICO
October 2018
ICO, DAO Construction Begins
November 2018
Acquire Key Partnerships and Meet With More Utility Companies
December 2018
Exchange Listing(s), Hiring More Developers
January 2019
Mobile Wallet Release, Continue Development
February 2019
Masternode and DAO Testnet
March 2019
Fully Functional User Interface Released, DAO Mainnet Online
April 2019
Devcon and Acquire More Partnerships
May 2019
Receipt Verification/Tax Incentive, Utility/LED Token Development
January 2020
Expansion of TeraWATT's LED, Ecosystem Into Related Sectors
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Download TeraWATT DAO Whitepaper

The original Bitcoin code was designed by Satoshi Nakamoto under MIT open source credentials. In 2008 Nakamoto outlined the idea behind Bitcoin in his White Paper, which scientifically described how the cryptocurrency would function.

Marketers create whitepapers to educate their audience about a particular issue, or explain and promote a particular methodology.A white paper is an authoritative report or guide that informs readers concisely about a complex issue and presents the issuing body's philosophy on the matter. It is meant to help readers understand an issue, solve a problem, or make a decision.

DAO Funding

Participants will add funds to the DAO in the form of Terawatt tokens (LED ticker). All interested businesses and consumers, not just utility providers, can buy LED tokens and participate in the DAO. This will help increase the network effect (Metcalfe's Law). Now we have a growing decentralized fund as more token holders join.

Why invest in this DAO?

High probability of making profits, to direct the funds via voting on community proposals, and to help drive global L.E.D. adoption

The Terawatt token supply will rapidly and exponentially decrease with a continuous coin burning algorithm. Terawatt will automatically use 50-75% of company profits earned from DAO entry/exit fees, profit taking fees (like an exchange), Carbon tax data storage fees, carbon credits, and also from affiliate L.E.D. sales commissions to buyback and burn (LED) Tokens. This is similar to the BNB token, but they only burn every quarter. We will burn continuously

This may or may not mathematically cause token value to greatly increase as we are decreasing supply, while also increasing demand through marketing and growing adoption. Ex: If a Utility company invests $10,000/month, in one year their account value has possibly increased 200% from $120,000 to $360,000. They could withdraw part, or all, of their account balance to provide subsidized LED’s to their customers as needed, or to fund other green initiatives, like solar, wind, energy star-rated materials. products, electric vehicles, etc. Businesses and token holders can use their DAO profits to buy L.E.D. bulbs which will reduce their utility bills, qualify them for government tax credits/rebates, and reduce greenhouse emissions. We will also offer a token incentive or discount for participants who verify that they used profits for buying/selling L.E.D.s or related technologies. Moreover, it acts like a decentralized insurance fund, with the Terawatt token that powers it also acting as a fast, private, secure monetary currency which can be accepted at businesses and utility providers globally. It will make sense for utilities and businesses to take payment in our tokens as it will allow them to add more tokens into the DAO, and potentially greatly increase their profits. With the supply being extremely more deflationary than FIAT, and even than most other cryptocurrencies, it will become highly attractive as a payment currency.

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We may use a percentage of the ICO money to fund the DAO initially. We are actively pursuing partnerships with some of the largest utility companies, utility commissions, and Lighting manufacturers (such as GE and Philips) in the world, and they are open to trying out this model . Terawatt will offer them a free-trial basically, allowing the utility company to partake in the DAO and experience its benefits firsthand. This removes the risk from the utility providers, and businesses, and will help them realize the benefits of accepting the LED token as a payment currency.

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Enter The DAO

With Ethereum gaining traction, the scene was set for a new kind of organisation. The DAO uses Ethereum smart contracts to power everything from its funding to how it pays people for the work they do. Like a traditional company, the DAO is built for profit. It is seeded via the sale of ‘DAO tokens’ during the crowdfunding period ending 28 May 2016. The tokens empower whoever holds them to vote on what the organisation will do. If we use familiar terms to describe the DAO, you could think of tokens as ‘company equity’ and token holders as ‘shareholders’. While not entirely accurate in conventional business terms, substituting those words when you read the rest of this article may be useful. What the company actually does is up to the token holders. New ideas are presented to the DAO in the form of proposals. Token holders then vote on proposals and, if approved, contractors will be allowed to compete for work on the resulting projects.”

With a basic understanding of what a DAO is and how it works, we can now get into more details on how the Terawatt DAO will function. We will build a DAO, and they will come . This is a decentralized autonomous organization that is essentially a bank/pool of funding allocation for power companies, all businesses, and their customers (business and residential), which they can tap to ensure that these L.E.D discounts can be offered/available 12 months out of the year instead of 3-6 months, or not at all in some cases. For businesses and everyday consumers, The DAO can help provide them with the funding needed to afford upgrading their existing lights to LEDs. So, this project does not entirely rely on utility company partnerships. Terawatt will act as both a funding bank, payment currency, and as an immutable verifiable data ledger. Think of it like an insurance fund, or a merry-go- round of appreciating money, that allows utility companies, businesses, and all people worldwide to help each other afford LEDs. This helps reduce everyone's electricity bills, helps the environment, increases light output, and further advances the federal and state initiatives that are pushing for 100% LED adoption anyway.

Who Can Join The DAO?

All interested businesses and consumers, not just utility providers, can buy LED tokens and participate in the DAO. This will help increase the network effect (Metcalfe's Law) Now we have a growing decentralized fund as more and more token holders join. We also aim to do this for GAS, and SOLAR, and WIND, Electric Vehicles, Etcetera. LEDs are just the beginning of the titan Terawatt will become. LEDs will be proof of concept and then it will snowball from there into these other sectors. Once utility companies experience the innumerable benefits of joining the DAO, they will happily pay to join, and other companies that don’t do this will experience F.O.M.O (fear of missing out).

Frequently Asked Questions

Frequently asked questions (FAQ) or Questions and Answers (Q&A), are listed questions and answers, all supposed to be commonly asked in some context

The best cryptocurrency to buy is one we are willing to hold onto even if it goes down. For example, I believe in Steem enough that I am willing to hold it even if it goes down 99% and would start buying more of it if the price dropped.
The best cryptocurrency to buy is one we are willing to hold onto even if it goes down. For example, I believe in Steem enough that I am willing to hold it even if it goes down 99% and would start buying more of it if the price dropped.
While profits are possible trading cryptocurrencies, so are losses. My first year involved me spending hundreds of hours trading Bitcoin with a result of losing over $5,000 with nothing to show for it. Simply trading digital currencies is very similar to gambling because no one really knows what is going to happen next although anyone can guess! While I was lucky to do nothing expect lose money when I started, the worst thing that can happen is to get lucky right away and get a big ego about what an amazing cryptocurrency trader we are.
Before Steem I was all in an another altcoin and really excited about it. When I first bought the price was low and made payments to me every week just for holding it. As I tried to participate in the community over the next several months, I was consistently met with a mix of excitement and hostility. When I began talking openly about this, the negative emotions won over in the community and in me. Originally I had invested and been happy to hold no matter what the price which quickly went up after I bought it.
While it may be possible to find individuals who wish to sell bitcoins in exchange for a credit card or PayPal payment, most exchanges do not allow funding via these payment methods. This is due to cases where someone buys bitcoins with PayPal, and then reverses their half of the transaction. This is commonly referred to as a chargeback.
You should never expect to get rich with Bitcoin or any emerging technology. It is always important to be wary of anything that sounds too good to be true or disobeys basic economic rules.
When a user loses his wallet, it has the effect of removing money out of circulation. Lost bitcoins still remain in the block chain just like any other bitcoins. However, lost bitcoins remain dormant forever because there is no way for anybody to find the private key(s) that would allow them to be spent again. Because of the law of supply and demand, when fewer bitcoins are available, the ones that are left will be in higher demand and increase in value to compensate.
Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use.
New bitcoins are generated by a competitive and decentralized process called "mining". This process involves that individuals are rewarded by the network for their services. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.
Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Bitcoin is backed by mathematics.
The price of a bitcoin is determined by supply and demand. When demand for bitcoins increases, the price increases, and when demand falls, the price falls. There is only a limited number of bitcoins in circulation and new bitcoins are created at a predictable and decreasing rate
Yes. History is littered with currencies that failed and are no longer used, such as the German Mark during the Weimar Republic and, more recently, the Zimbabwean dollar.
To the best of our knowledge, Bitcoin has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin exchanges.
Bitcoin is money, and money has always been used both for legal and illegal purposes. Cash, credit cards and current banking systems widely surpass Bitcoin in terms of their use to finance crime. Bitcoin can bring significant innovation in payment systems and the benefits of such innovation are often considered to be far beyond their potential drawbacks.
The Bitcoin protocol itself cannot be modified without the cooperation of nearly all its users, who choose what software they use. Attempting to assign special rights to a local authority in the rules of the global Bitcoin network is not a practical possibility.
Bitcoin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Bitcoin.

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If You have any questions? we're happy to help

  • Address

    Ground, 1st, 2nd and 3rd floor Joop Geesinkweg 901 - 999 Amsterdam - Duivendrecht 1114 AB Netherlands

  • Email-id

    support@terawattled.com