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#Blockchain, #Cleantech All projects

BitLumens: Platform where users adopt off grid Solar systems

Allows leasing of Solar Home Systems to be done through installments denominated in Bitlumens Tokens

stage Ended crowdsale

3.7 Rating

by 6 users


    KPLs

    • Employees9

    Team

    9
    man VERONICA GARCIA

    CEO - Founder

    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. She also worked as a consultant for the World Bank, IADB and Castalia. Her research focused on renewable technologies and on quantififying 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.

    man DANIEL HELLER

    CFO

    Daniel Heller has been associated with the Peterson Institute for International Economics since January 2017 as a visiting fellow. Before joining the Institute, he was head of financial stability at the Swiss National Bank, head of the Secretariat of the Committee on Payment and Settlement Systems at the Bank for International Settlements, and executive director for Switzerland, Poland, Serbia, Azerbaijan, and four Central Asian republics at the International Monetary Fund. He received his PhD from the University of Bern and was a research fellow at Stanford University. His academic publications are on optimal design of bond auctions, demand for central bank money, and collateral requirements for over-the-counter (OTC) derivatives clearing. His current research focuses on the impact of emerging digital technologies such as blockchain on the financial sector, financial stability, and central banking.

    man ALI ASKAR

    CTO

    Ali used to be a cloud solutions consultant and network security architect at Akron Telecoms. Ali possesses sound expertise in designing, deploying, and administering cloud services to support our platform product as well as custom applications.

    man REKHA

    Backend Developer

    Rekha is a senior Java/J2EE developer of working at Cygnet Infotech, having rich experience developing cloud ready scalable applications. She is an analytical thinker that resolves on going issues or defects, often called upon to consult on problem that have eluded resolutions by others

    man YASH PATEL

    Frontend Developer

    Yash is working as a Software Engineer at Onata. Expertise in in levering front-end technologies to develop high end web application using Angular, Bootstrap, HTML5 and React JS. Fundamental mastery of the AWS cloud computing platform, and its many dimensions of scalability - including but not limited to: VPC (Virtual Private Cloud), EC2, Load-balancing with ELB, Cloud Formation, Cloud Watch, the AWS API and different toolkits for instrumenting it.


    Advisors

    9
    man MEGAN KERINS

    Engineer, Advisor

    As a solar engineering consultant with a focus on emerging economies, Megan has a passion for bringing equity and diversity into the renewable energy sector. She holds a Masters in Civil Engineering from Stanford University and has worked for various Bay Area solar companies, including overseeing a national solar quality assurance program with Sunrun. She has also actively participated in the funding, design, and installation of solar and micro hydropower projects in Thailand, Burma, and Ethiopia. In 2016, Megan started Solar Stewards, LLC, serving as a technical advisor to commercial- and utility-scale projects in the US and the Caribbean.

    man HERBERT STERCHI

    Advisor

    Herbert has been the Lead Finance at Thomson Reuters Global Resources. He specialized in accounting processes, SAP implementation and audits based on IFRS. He had pioneered controls and procedures, bringing increased accountability to technology and content development and reducing overall spend while increasing product functions and features and reducing time to go to market.

    man CAROLINA FORGA

    Investor Relations, Advisor

    Grew up in Barcelona (Spain) and studied Business Administration in Lausanne (Switzerland). She also holds a Masters Degree in Finance from Eserp Business School.Carolina has been working in wealth management for the past 7 years. Before she was at Citi Private Bank for 3 years where she won the Global Excellence Award. Carolina is a Blockchain advocate and an early crypto investor.

    man CHIA HOCK LAI

    Advisor

    Chia has close to 2 decades of experience in the financial industry, having performed roles in both business and technology. He is an alumnus from the National University of Singapore and Nanyang Technological University. Besides being the founding president of the Singapore FinTech Association, he is also a Fellow of the Singapore University of Social Science and advisor to Startups.

    man JIM KYUNG-SOO LIEW

    AI Expert, Advisor

    Jim is an Assistant Professor of Finance at Johns Hopkins Carey Business School and revels in pushing the boundaries of financial knowledge and product development both as an academic and FinTech Data Scientist. He has published pioneering research in the intersection of social media big data, crypto-currencies, and financial markets. He currently teaches "Big Data Machine Learning," "Advanced Hedge Fund Strategies," and "Leading Entrepreneurship and Innovation" at the Johns Hopkins Carey Business School. Additionally, he serves as the Chairman of the Johns Hopkins Innovation Factory and has received the Dean’s Award for Faculty Excellence 2015-2017.




    Crowdsale details

    Distribution of tokens
    • Crowdsale (50%)
    • Bitlumens (25%)
    • Team & Advisors (23%)
    • Bounty (2%)
    Budget allocation
    • Hardware (35%)
    • Legal (2%)
    • Wages (35%)
    • ICO Expenses (2%)
    • Software development (20%)
    • Marketing and PR (6%)
    Details Indicators
    Token Symbol BLS
    Full Token Name BLS Token
    Pre-crowdsale Start May 29th, 00:00 GMT+03:00
    Pre-crowdsale End June 18th, 00:00 GMT+03:00
    Crowdsale Start June 19th, 00:00 GMT+03:00
    Crowdsale End Hard cap is reached or July 16th, 00:00 GMT+03:00
    Crowdsale Hard Cap Fixed, $25000000
    Token type utility token
    Incorporation Details Bitlumens GmbH Gotthardstrasse 26 6300 Zug, Switzerland
    Domain registration date 2017-08-28
    Domain owner Contact Privacy Inc. Customer 1241668269, 96 Mowat Ave, Toronto, ON, CANADA

    Cost of the token

    1.2 tokens for 1 $

    Price without discounts

    Discounts and Bonuses

    Crowdsale
    Discount Dates Minimum purchase amount
    20% June 19 — 19, 2018
    15% June 20 — 25, 2018
    10% June 26 — July 02, 2018

    Accepted currency

    • Ethereum
    • Fiat


    Rate the project

    Estimate the project on a five-point scale or switch to the simple scale

    Five-point scale Simple scale

    Relevance of the problem and Market size

    1 2 3 4 5

    Product competitiveness

    1 2 3 4 5

    Founders, Team & Advisors

    1 2 3 4 5

    Budget allocation and roadmap

    1 2 3 4 5

    Token economy, Tokenization & Business model

    1 2 3 4 5

    Distribution & Lock up of tokens, Discounts for early buyers

    1 2 3 4 5

    Summary rate the project

    1 2 3 4 5

    Rate the project by other users

    6
    Alexandr Gonchar August 10, 2018
    Rating of project
    4.0

    Advantages

    The project uses the Internet of Things (IoT) and Blockchain to bring electricity from renewable sources for residents in the villages of Latin America. Thanks to the solar energy and technology of the project, people can use electricity, charge their electrical appliances and even water the crops. Users rent services and pay in installments which expressed in BLS tokens. In addition, family members can buy tokens to send money transfers, which can cover the costs of the car, water and electricity bills can also be covered. In addition, family members can buy tokens to send money transfers, which can cover the costs of the car, water and electricity bills can also be covered.

    Risks and disadvantages

    Very interesting and relevant project, especially because it's related to renewable sources of clean energy. However, it can also be considered a disadvantage for the project because there are no specific proposals for the production of this energy in the description, and blockchain technology can just help to get the cheapest energy at the moment.

    Comments

    I think that the project would draw the attention of users and become successful if the team would be able to conclude contracts with real electricity producers and, in addition, would be able to rent communications to transfer this energy to the villages. But in general, the project is promising, interesting and deserves investors' attention.

    Denys Serhiichuk June 03, 2018
    Rating of project
    3.0

    Advantages

    The project has team, which members are supposed to be real, as their accounts on social networks are active. Moreover, there also advisors and partners of the team. Partners are essential for such kind of project, because the platform aimed at connecting Blockchain with grid Solar systems will not succeed without cooperation with other companies. Also there is a wide range of social media, such as Medium, Bitcointalk, Reddit, Facebook, Youtube, where potential investors can read about the startup.

    Risks and disadvantages

    23 % of all tokens form the pool are reserved for the team and advisors. That number is too high, as they rate can be easily manipulated when the token enters the market. In addition, there is no any demo or alpha version, which is a slight disadvantage.

    Comments

    I opt to think, the project has potential. The only think it may lack is the working product. However, I think it is only the matter of time with such experienced team.

    Anne Bryn May 21, 2018
    Rating of project
    3.7

    Advantages

    As long as target audience is huge and the project has enough area managers and agents communicating with target audience, demand for tokens will grow. A pilot project is already started in Guatemala.

    Risks and disadvantages

    Since the pilot project has already started, it would be interesting to have a possibility to follow it and to have the latest news.

    Comments

    This project has a reliable team and they provide a product which meets customer's need. There are no such risks as long lead time for execution or intense competition in the market.

    Sofia Medda May 19, 2018
    Rating of project
    4.2

    Advantages

    A detailed analysis of potential market is presented in the Whitepaper. We can see that target audience is chosen carefully (people who really need the product and who are more reliable when it comes to payments, areas where these solutions would be realized in the best way).

    Risks and disadvantages

    I did`t find any information if the total amount of tokens will be limited or there is a possibility that new tokens will be minted.

    Comments

    The project will offer a good solution for people in Latin America. There is a real need for the product. I think it`s an interesting opportunity for investors.

    Jordan Semanda May 17, 2018
    Rating of project
    3.5

    Advantages

    The token price even without discounts is affordable and many investors of different economic levels will be able to engage in this project. The advisers have experience in the field of cryptocurrency.

    Risks and disadvantages

    The advisers have experience in the field of cryptocurrency. The utre of the project has not been catered for and this might limit its development after the crowd funding is done this is shown by the way in which the road map has been presented.

    Comments

    This platform increases the global acceptance of cryptocurrency and this is of advantage to the cryptocurrency market which is growing.

    William Anderson May 16, 2018
    Rating of project
    4.0

    Advantages

    The focus of the project is on improving the way of life of people in remote areas this will bring a new face to effective service delivery with the help of the transparency of the blockchain. Quick execution of the detailed road map guarantees profitability.

    Risks and disadvantages

    Luck of a pres team is going to hinder the desired growth of the project.

    Comments

    Communication between the investors and the team should be kept ongoing so as to keep them posted to prevent possibility of abandoning the project by selling the tokens on the exchange. Possibility of capturing a monopoly market is possible because the service being provided is unique.

    See more reviews

    FAQ

    FAQ

    What advantages does the solar power device offer compared to traditional energy sources?

    1.2 billion people living in rural areas are without access to electricity. However, a majority of these people already pay for energy: a kerosene lamp consumes three liters of fuel in a month at an average price of 0.35 USD per liter (in India). Other people use wood or candles to light their homes. This is not only a safety issue but also a risk to their health and to the environment: one kerosene lamp emits over 100 kg of CO2 per year. Burning 20 kg of wood per day emits about 200 grams of particle matter. This equals smoking 10.000 cigarettes!
    Kerosene lamps and burning wood also don't emit enough light to make efficient use of times without daylight. The solar power device offers clean, safe and reliable energy that powers not just highly-efficient LED-lamps with 200 lumens but can also be used to charge small devices like mobile phones. A long-lasting battery ensures that there is enough energy in times without sunshine.

    What is the use of BLS Token?

    The BLS token serves multiple purposes in the BitLumens ecosystem. It is used as a payment method for the devices. By using a blockchain token, lending parties in the ecosystem can use the devices as a security for issuing microcredits: the device can only run as long as enough BLS are associated with it. Furthermore, the device and the associated funds can be locked if a user doesn't pay for the installments, giving further security to lenders. BLS tokens to pay for and run the device need to be bought from the open market.
    The BLS token is also needed to access the BitLumens SaaS. Banks can use the data stored on the blockchain for securing their microcredits. The information acquired through the use of the BLS tokens is necessary to issue microcredits to people living in rural areas. It has long been an issue that people outside of the banking system don't have a track record of previous business relationships. BitLumens is giving them such a relationship on a lending-basis for something they urgently need anyway: safe and reliable electricity.

    What role does blockchain play in BitLumens' business?

    Without blockchain technology, BitLumens' business would not be possible. To date, there is no system that is able to collect payment data from the more than one billion people living in rural areas and make it available to banks or other entities seamlessly. By using blockchain technology, data can be uniquely associated with the device's owner, stored safely on the blockchain and be accessed whenever the user decides so. The blockchain allows banks to audit and monitor data while being sure that all information is accurate. Accurate, reliable, instant and accessible data on payment behavior by people living outside of the banking system is what was missing to give these people access to financial services. Services such as microloans will set the foundation of a whole new economic development where it is urgently needed. At the same time, this opens up new business opportunities for banks, utilities and individuals to get full transparency on their investments.

    Why do we need the solar energy devices to build a credit-score?

    The solar power devices serve two purposes.
    1) They are an instant improvement for the lives of millions of people.
    2) They are the enabler for BitLumens ecosystem. By issuing reliable and robust devices paid for in monthly installments, users acquire a digital identity and build a credit score. The innovative BitLumens software bundles these remote devices and feeds the data to the blockchain where it can then be put to use. In the past, living in remote rural areas usually meant being completely isolated from both electricity and important banking services such as microcredits.

    Will people be able to sell energy producted with the devices?

    Yes. Users can sell excess energy to other people in their community. It usually takes eight monthly installments to pay for one device. Users can then decide to buy further devices using installments, thereby enhancing their power production gradually. If other users in their village buy solar power devices, Bitlumens can develop microgrids. Energy can then be sold to other households in their village using the BLS tokens.
    What are carbon credits and how can people earn money using them?
    Why do you employ agents? Isn't this a somewhat centralized service?
    How does the data get from remote areas to the blockchain?
    How does BitLumens earn money?

    What are carbon credits and how can people earn money using them?

    Carbon credits put a price-tag on the emission on a negative externality, i.e. CO2. Organisations that save previously made CO2-emissions can earn carbon credits which link a value to the savings of climate-damaging emissions. Since villagers use BitLumens solar power device save previously emitted CO2, the savings can be denominated in carbon credits worth a certain amount BLS tokens. Organisations that cannot avoid emitting CO2 such as some industries need these carbon credits to keep their business running. By selling the carbon credits denominated in BLS tokens on the open market, will get are an additional income source while improving the air quality in their homes. Carbon credits are verified using IoT devices, these data is stored on chain. This use case won’t be available immediately as Bitlumens needs to collect the data first.

    Why do you employ agents? Isn't this a somewhat decentralized service?

    BitLumens focuses on people, especially women farmers, living in rural areas of Latin America. While large parts of the world transit into the digital age, these people don't have access to electricity to turn on a light bulb, nor do they have access to the financial system. This is partly due to them living in remote areas with no or only insufficient internet access. These people can't just buy BLS tokens from their feature phones. Therefore, we employ regional agents using a smart phone who collect payments in cash and do the transaction for them. By employing agents, BitLumens also contributes to the creation of jobs in areas that are usually neglected by other investors.

    How does the data get from remote areas to the blockchain?

    The solar power devices and their sensors are connected to the blockchain, yet they don't have individual internet access. This has long been a problem for establishing business relationships in remote areas. We have developed a system that uses Low Power Wide Area Network (LPWAN) to connect different devices with each other. The now bundled devices will communicate with a hub that has internet access. The data travels from the devices to the hub and the hub sends it to the blockchain. This allows banks and other entities to access payment and other data from places with insufficient infrastructure but a substantial need for financial services such as microcredits.

    How does BitLumens earn money?

    Through the ICO, BitLumens will collect enough funds to be able to run the business for three years, including the upfront payment for the solar power devices. Each time, a user sells energy produced by the devices, BitLumens will charge 1% of the transaction. The company also earns a margin through the hardware and 1% from remittances.


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