KWHCoin is a blockchain based solution for a cost-effective and network incentive based platform to integrate renewable energy and distributed energy resources into the grid. They are developing a model to compensate the value of distributed energy resources at the edges of the grid transitioning to an advanced energy network that can be accessed by all with no barriers to inclusion. TechMoran spoke to KWHCoin about their company and the measures they are taking towards that end.
Tell us about yourselves; your team, your educational and professional backgrounds.
Girard Newkirk is the founder and CEO of Newkirklytics and KWHCoin. He is a social entrepreneur that is using technology as a platform to build a sustainable and circular enterprise to promote the social good and remove barriers to accessibility for all.
How would you best describe KWHCoin, what does it do?
KWHCoin is a peer to peer platform that will create a renewable energy ecosystem that uses the Internet as the rail to deliver and exchange clean energy with no central authority or trusted third party as controlling the platform. This provides the opportunity for individuals to take ownership and control of their energy future and also delivers a platform to monetize energy-related work. We are building an entire ecosystem that is not currently established. We plan to implement block-chain technology with renewable clean energy, to provide millions of people with electricity and weaken the world’s dependence on fossil fuels. The collection, storage, and tokenization of distributed energy resources make KWHCoin a viable option as the digital currency of choice for the emerging internet of energy.
What market gap did you spot that motivated you to start this company?
The main electrical grid is teetering on the brink. The cost of electricity is steadily increasing to ensure proper maintenance to the grid. This is affecting the world drastically with no signs of relief in sight. This company was established to alleviate some of the pressure from the grid and to lower the cost of electricity by creating the opportunities for peer to peer transactions. We’re also lowering the barriers to allow access to clean, renewable energy in remote areas that lack access to electricity.
Who is your target market?
Our target market is the 1.2 billion individuals who lack resources to electricity and clean water as well as those who are socially disadvantaged.
How does your company make money?
We had our presale in Dec 2017 and sold 15 million coins in 48 hours of going live which totaled to be 1 million USD then held our ICO early Feb. The total amount raised was about 2 million! We have active partnerships in Nairobi, Kenya with Nurse In Hand organization where will we install 21 solar powered medical facilities along a 900 mile long road that connects Nairobi to the port of entry. We are also partnering with Teleficient to install micro-grids to power 50,000 homes in Sierra Leone.
Who would you say is your major competition in this space at the moment?
This is a social impact project therefore, we do not see competitors. We encourage partnerships with any potential entity whose mission is to provide a sustainable, eco-friendly environment.
What is your vision for the company in the next 5 years?
To become the largest blockchain-based, a global renewable energy company in the world. We want to provide a model to those globally who lack access to electricity. We want to be the leading effort in establishing not only energy but also sustainability through agro-farming.
What advice would you give upcoming entrepreneurs?
Be a visionary and never give up on your dreams!