BitLumens is building a decentralized, blockchain-based micro power-grid for the 1.2 billion people without access to electricity and banking.
Bitlumens brings electricity and water from renewable sources using the Internet of Things and the Blockchain to women in rural villages in Latin America. Thanks to the solar energy and our technology, people can use electricity and thus use mobile communications, even water their crops! Women acquire our hardware with a microloan which they amortize in monthly installments. This allows them to build a credit score leading to financial inclusion and poverty alleviation. We also quantify carbon mitigation and particle matter reduction in each household to allow women to become carbon credit issuers.
BitLumens distributes solar power devices in areas without a power-grid and connects them to the blockchain. By using the devices, people build up credit scores. Banks can access the data by using BitLumens own token BLS and use it to issue microcredits to those who urgently need them.
The devices form microgrids in places with no existing infrastructure. Our innovative software collects data and sends it to the blockchain. People can decide to make this data available to banks for microcredits and other financial services. Banks will gain access to over one billion people in need of a bank account.
The devices produce clean, zero-emission electricity and have an immediate impact on the quality of people's lives. In the future, the devices can be interconnected to form micro power-grids in places without electricity, allowing people to trade energy within their communities.
The devices can be locked when users get in arrears with their monthly installments. This provides the necessary security for issuing micro-credits. On the other hand, users have full control over their data. Only they decide who can access and use it.
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 quantifying 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 the Internet of Things (IoT) and blockchain technology.
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.
Start of the first Pilot
Launch of Web and Mobile app in Beta
Launch of new Android app
Start of second Pilot