[Accepted]IoTeX enabled Energy Service (by Switch Electric)

Proposal details

Project Name

Switch Electric

Project Type

New DApp, Integrate IoTeX, New IoT Devices

Proposal Description

Switch is focused on developing pay-as-you-go solar projects for underdeveloped regions of Nigeria and other developing countries where electrification is poor or unavailable. This allows our customers to have easy access to the clean energy they need at a fraction of the cost while facilitating investments in climate friendly energies.

We have developed custom pre-paid meters enabled with wireless internet communication, which would allow them to integrate with the blockchain. This presents a huge opportunity for the tokenization of our assets. Tokenized solar assets would allow anyone to invest in the solar energy sector,

The proposed tokenized solar asset is a digital representation of the physical asset. It’ll be an NFT generating fixed income returns as stable coins for the electricity being sold to the customers. Anyone will be able to track each individual installation and see its performance figures in real time on the blockchain. By tokenizing these assets, we also make it possible for smaller investors who don’t have hundreds of thousands of dollars sitting around to invest in solar energy installations.

This is an opportunity for IoTeX to acquire more users and attract a lot of fresh capital from investors looking for clean energy investments to IoTeX ecosystem. The increased network usage generates more activities on the blockchain, increase demand for her native tokens, resulting in higher valuation in the marketplace.

Milestones

  • Milestone 1:

    • Duration (weeks): 10 weeks
    • Funds request (USD): 5,000 USD
    • Deliverables:
      • Develop and deploy 7 IoTeX enabled smart meter prototypes. This involves adapting our current prepaid smart meters for use on the IoTeX network.
      • Develop prototype smart contracts and mint initial NFT tethered to the 7 smart meter prototypes. Run prototype tests and MachineFi use cases for the meters.
      • Develop project NFT marketplace
  • Milestone 2:

    • Duration (weeks): 15 weeks
    • Funds request (USD): 7500 USD
    • Deliverables (make sure they can be easily verified):
      • Launch Project, deploy first 25 rooftop solar projects with smart metering
      • Integrate with machinefi SDK and connect to the machinefi ecosystem
      • Register 200+ devices and iotex users
  • Milestone 3:

    • Duration (weeks): 15 weeks
    • Funds request (USD): 7,500USD
    • Deliverables (make sure they can be easily verified):
      • Grow project to 500+ running devices on Machinefi ecosystem
      • Onboard 10 other solar project developers to our tokenization marketplace

Total funds requested

20,000 USD

About your Team

  • Ifeanyi Christwin: Chief Executive Officer, business developer and data analyst
  • Isaac Newton : Chief Technology Officer, Hardware and Electronics Engineer, Programmer and Software Developer
  • Mmerichukwu Anosike: Chief Business Officer, Operations Manager, Web developer
  • God’sdelight Jude: Chief Strategy Officer, Embedded Systems, Printed Circuit Board Design
  • Nwobodo Ebube: Chief Procurement Officer, Battery Engineer, CAD designer
  • Nnam Darlington: Web 3 Product Manager, Blockchain / Smart Contract Developer
  • Tamara Ogbuokiri: Quantitative Analyst, Web 3 Community Manager, Blockchain content Creator

Links

Website: https://www.whynotswitch.com/
LinkedIn: Switch Electric | LinkedIn
Twitter: https://twitter.com/WhyNotSwitch/
Medium: Switch Electric – Medium
GitHub: Switch Electric · GitHub

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2 Likes

Our prototype PCB designs are ready to go! We’ve been working on this idea all year and really excited to integrate with IoTeX. I’d share project repository link once approval is granted. :fist:

2 Likes

Thanks for submitting the IoTex halo grant application, we are reviewing it

1 Like

Switch Electric is at the forefront of Sustainable Innovation and Technology.

1 Like