Swytch is a blockchain based application that seeks to verify and reward the production of renewable energy through the issuance of an ERC20-compliant utility token. Swytch has a 1.5 gw pilot program operating in Germany, and has signed MOUs with four cities in Korea. Swytch attaches an IOT device to renewable energy sources that verifies the energy produced and reports it to an oracle that determines how many tokens that energy is worth based on a number of factors, which includes: geography, time of day, source of energy produced. We call this Proof of Production, and for this industry it solves the problems inherent with PoW and PoS.
One of the largest contributors to climate change is the burning of fossil fuels as a primary source of energy, heat, and transportation. The burning of hydrocarbons released nearly 30 gigatons of carbon dioxide in 2016, as well as toxic and harmful compounds such as mercury, nitrogen oxide, and sulfur dioxide. While investment in renewables has been scaling, the current state of renewable energy production is far from where it should be to mitigate environmental damage caused by traditional greenhouse gas emissions (GHGs). As of 2015, only 10% of global energy consumed came from hydro, solar, and wind sources. The incentives for scaling renewables that are in place today largely reflect legacy ideas, technologies and mechanisms that are inherently flawed. Participants in these programs are frustrated by the fragmentation, fraud, administrative cost, and lack of focus on true environmental impact. More must be done to mitigate the impacts of climate change and empower people to take a more active role in addressing one of the most pressing issues of our time.
Swytch was born from a collaboration between utility-scale system builders, large energy customers, the energy finance and trading community, as well as cities to address this need with incentive and governance mechanisms that actually work. At its most basic level, Swytch Token will provide an incentive for clean energy producers and fills a gap in today’s market for verified renewable energy data and consumption. Swytch will use open-source applications, protocols, and algorithms to verify and reward investments in renewable resources worldwide. The reward will be in the form of an ERC20 compliant token that aims to incentivize investments in a wide range of renewable and sustainable assets and infrastructure (rooftop solar, distributed utility solar, grid scale solar projects, wind projects, storage systems, etc.).
From large-scale industrial power infrastructure to small residential assets, Swytch Tokens can be generated anywhere electricity is produced. Swytch will provide geo-stamped credentials for production of renewable and sustainable technologies which will serve to create invaluable data sets capturing production information and driving adoption of renewables where future production will have the most impact. Furthermore, the generation and transfer of Swytch Tokens will accelerate investments in and adoption of renewable and sustainable technologies by rewarding production and creating a network in which those rewards can be exchanged.
THE PRIMARY BENEFITS THAT SW YTCH OFFERS OVER EXISTING INCENTIVE PROGRAMS INCLUDE: Standardization and liquidity where today there is fragmentation and market inefficiency; Token based incentives for accelerating innovation in sustainable technologies and deploying them at a global scale; and Decentralized, public, and secure verification of renewable energy production and transaction data and lowering administrative costs.
As a result, Swytch will serve as a compelling solution to layer onto existing markets for verified renewable energy production & consumption. Improving upon existing programs will further drive adoption in key segments, including:
Corporate sustainability programs; programs who wish to hold Swytch Token as proof of offset or as a means of investment in future renewable asset development; Environmentally conscious consumers who wish to use tokens to fund sustainable services and/or engage in the community; and Governmental entities, including “smart cities” who wish to hold tokens as a reserve for local sustainability tokens or to stake into the “oracle” for modelling and data consumption purposes.
All ratings published on ICObench serve informational purposes only. ICObench does not provide investment forecast, recommendations or any consulting for that matter. Thus, neither ICObench, nor the experts can be hold responsible for the visitors’ investment decisions. Read more
ICO Marketing Expert | Launch Strategist | Global Branding and Fundraising Master Rated on Jun 16, 2018
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This is a good concept but not a product that can benefit being placed on a blockchain for implementation. However, it can be part of a bigger project for greater ROI. While its creators have a good concept, they need to further develop this concept to bring in greater, far-reaching benefits to the world at large, through the blockchain.
CTO at Bidao - Stablecoin and DeFi on Binance Chain, Crypto Entrepreneur, TEDx Speaker Rated on Jun 27, 2018
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This is a very interesting project. I wonder if it needs blockchain implementation though, and whether it will be able to deliver positive ROI to investors.
Although, it has a great team and advisory board, and I think it has a great vision behind it too.
Blockchain consultant Rated on Jun 28, 2018 Modified on Jun 28, 2018
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The concept is very wonderful.
This project deals with one of the problems that we have to solve.
However, there is little explanation about the product itself.
Are there prototypes already?
As an investor, the road map seems not to be enough.
What is the basis of the hard caps?
I can not access Linkedin of Evan Caron (Cofounder and Managing Director).
Publisher of Blockchain News (EST 2015), Director of Blockchain Partners, Director of Token.Agency Rated on Jul 13, 2018
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I can't believe how clueless most of the so-called experts here are. The fact is, Swytch has an incredible team and is backed by one of the largest hedge funds on Wall St. And has deals in multiple cities and in Germany.
And Toronto boy, can you stop copy pasting negative reviews with the same BS story? I see your comments verbatim on other ICOs as you demolish them without thought. Did you even bother to read the whitepaper here?
Let me put it this way, you would not have invested in Ethereum at 30 cents in the presale under your so called conditions for success.
Non-profit foundation, protocol level play, open source software, non proprietary...
You newcomers to the ICO world appear to have been stained with the residue of old world economics and failure to even grasp what tokenonics is and what the potential is. It's not about profit margins, and shareholder ecstasy, it's not about VC with their boot on the back of the necks of innovators watering them down to one figure equity.
It's about building community and finding utility value for the coin. It's about people using it.
For the so called expert who thinks that ICOs are no good for humanitarian or environmental projects... well what can I say? Delusional? Stupid? Pick one.
Now I know why half my clients could care less about ICObench. Because of drivel like this, posing as analysis.
All I can say is the quality of so called experts here is falling.
The idea is good, can’t say the same about the product and I can’t see how it will be a good investment. It would be interesting though how the product itself will look once implemented. The team is good with good experience.
ICOCROWD Editor-in-Chief - Blockchain + Strategic ICO Advisory Rated on Jun 24, 2018
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The concept of Swytch if really pretty good concept but the product is not, just because there is no any good kind of Blockchain technology implementation. Pretty good team, but here is not enough people (including advisors) from crypto industry. Make your investment desicion very carefully with these inputs.
Although I find this project meaningful, I know that it will most likely fail to deliver any returns to investors. And the reason is simple. Investors don’t care so much about saving the manatees. So not much money will be invested in this project. That will lead to decreased funding which means a low price or even a useless token. Nobody wants a useless token so there are no actual incentives to produce renewable energy using Swytch.
End of story.
Blockchain & ICO Advisor, Investor, Serial Entrepreneur Rated on Jun 21, 2018 Modified on Jun 21, 2018
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Though the concept looks good, I doubt how the product will look like once it's developed. Also, I don't see much benefit of using blockchain technology here.
Chief Excutive Officer at United Capital Investments s.a. Rated on Jul 6, 2018
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This project has not impressed me at all, tens of renewable energy projects, and 90% of them fail. Also the way that they implemented the token usage is also very fragile and will not create any demand and excitement for investors, if this project is going to be successful, it will take tens of years, no investor would wait such a long time, this is something that is not related to blockchain in anyway, this should be a normal project that should be funded by usual ways not ICOs.
The team is okay, but having a good team does not mean that the project they are offering is suitable for investors and the blockchain system.
I have worked with several eco green energy projects even before the blockchain started, and there is a very rare chance for these projects to succeed, they collect money from investors and in few years it becomes a dead project.
Renewable energy projects are on the rise and is a need in improving our environments. But at the same time not necessarily sure if blockchain would be a necessity for such a project.
The overall idea of the project is a positive one, the execution of it and hitting milestones and long term goals will be a deciding factor on how the market reacts.
The team seems knowledgeable in the industry and having advisors familiar in the energy and capital sector is a plus as well.
Some high profile backing (investors and partnerships) may help Swytch gain traction for this Eco Project.
Blockchain ICO Consultant and Adivisor. Rated on Jul 13, 2018
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Interesting project as a whole. The fact is that in this case an ERC20 could be substituted with the existing Green Certificate that is a tradable asset which proves that electricity has been produced by a renewable energy source. For example one green certificate is issued by 1 MWh of renawable power.
So very good team, very good vision of the project but the product could run off-blockchain as well.
Team with related experience that already has a pilot project lined up. Not sure why they are using blockchain for this or require a $30m token raise for this however. Milestones doesn't even go past a couple of Quarters. Would like to see longer term vision and roll-out plans, how the money will be spent. Their Whitepaper has TGE Hard Cap $60M. Website token allocation doesn't appear to match that listed on ICObench. So it could be that many key areas on this profile are simply not accurate because they do appear to have a little more substance in terms of milestones on their website.
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