ICO Analysis: Swytch

Fossil fuels continue to be consumed at an alarming rate, which releases harmful C02 emissions into the atmosphere. The world knows there is an energy issue and that we cannot continue to use fossil fuels acting as if the problem will fix itself. Currently, there is no way to track and verify renewable energy in real-time. There is also a lack of easily accessible, quality data to educate potential energy investors where to find the most effective and types of energy production in specific locations. There are also not enough incentives to encourage the transition from traditional energy production to renewable energy.

Swytch is building a platform on the blockchain that will verify and reward renewable energy producers with tokens. Incentivizing investors with more tokens where C02 emissions are high or power generation is low, by using an open-source dynamic adaptive control module (DACM), will speed up the adoption of renewable energy. Current incentive programs carry high administration costs. Building Swytch on the blockchain will remove the verification (middle-man) and lower the cost to implement the incentive program significantly.

Token

Swytch (SET) is a utility ERC20 token leveraging Proof of Production consensus to verify and incentivize renewable resource transactions and investments.

Swytch tokens will be minted and used to reward small residential and large, industrial power generation investments based on the production and use of renewable energy. Swytch tokens can be cashed in for fiat, other digital currencies, or used to invest in new renewable energy projects, helping accelerate the adoption of renewable energy worldwide.

The token distribution is as follows:

  • 55% Token Sale
  • 15% Core Team Founders
  • 14% Foundation
  • 10% Grants & Energy Partnerships
  • 3% Token Commons Project Funds
  • 3% Bounties/Affiliates

Team

We are happy to see that all team members are well established on the LinkedIn professional network. We decided to let you read about them below. Nothing about the personnel would lead us to believe they can’t do a tremendous job.

Evan Caron

Co-founder and Managing Director

John Redpath

Co-founder

John Clippinger

Co-founder and Head of Token Innovation

Andrew Pearsons

Managing Director

Youngsook Park

VP of Business Development

Eric Miller

Director of Product and Lead Blockchain Developer

Shawn Harmsen

Senior Fullstack Developer

Troy Martin

Director of Compliance and Governance

Chris Griffith

Senior Full Stack Developer

Luke Filipos

Lead UX Designer

ADVISORS

Galia Benartzi

Cofounder – Bancor

Charlie Firestone

Executive Director – The Aspen Institute

Brad Hardin

CTO, Black and Veatch

Thomas Hardjono

Technical Director, MIT Internet Trust Consortium

Peter Hirshberg

Chairman, Maker City Project

Steve Jurvetson

Venture Capitalist

Marcia Kadanoff

CEO, Maker City Project

Kent Larson

MIT Media Lab – Director, City Sciences

Curt Lefebvre

CEO, nDimensional

Mickey McManus

Visiting Research Fellow at Autodesk, Senior Advisor at BCG, Co-Author, Trillions

Tony Seba

Stanford University – Clean Energy Expert

Marc Weinstein

Venture Partner, DNA Fund

Verdict

Swytch is working in a highly competitive market, but already has key partnerships in place. Swytch has also figured out a way to change the way investors are compensated based on where they build and how much they help an area of the world in need. This is completely opposite to the way power companies currently work, where investors are paid based on energy use and consumption. Swytch, on the other hand, will compensate based on need that also translates into consumption. Swytch has a unique idea and a way to quickly accelerate renewable energy development, which will incentivize governments to allow and encourage this business to succeed rather than regulate and slow down adoption.

The company says as much in the following passage:

At Swytch, we are less concerned with monitoring the movement of an electron from one party to another and are instead focused on rewarding additive renewable production that offsets carbon. For this reason, and because we see uses for Swytch in conjunction with these tokens, we see WePower and PowerLedger as supplemental/complimentary projects instead of direct competitors.

While the hard cap is a little high in the current ICO market, I would say that it is warranted for Swytch as they are trying to tackle large, complex issues in a short timeframe. The sooner the better for this type of business to make an impact. Having said that, with the current hard cap set at $60 million, Swytch would have to be in the top 90 tokens by market cap for an investor to receive 2x their ROI. Swytch may allow investors to realize 5x–10x returns but it will take longer to see that and may be considered as a more long-term cryptocurrency hold than one to flip.

Risks

  • In this current ICO market, the $60 million hard cap will be hard to reach. This may potentially affect the product as well as token sentiment if the entire $60 million is not raised. In general, a lower market cap for the ICO stage means it will be easier for investors to receive a higher ROI. -2.0
  • Mass market adoption is always a concern with this type of business given that it is looking to disrupt a system that has been run a certain way for many years. While this change may be needed, it may take a while for companies to adopt, leading to slow growth in a rapidly growing cryptocurrency ecosystem. Besides Youngsook Park, the founders do not have much experience in the renewable energy space. -1.25

Growth Potential

  • The co-founders have many relationships and contacts in the ICO and cryptocurrency world, some acting as advisers for some well-known, successful ICOs. This experience will help as they implement their own ICO strategy. +3
  • Major partnerships have already been established with Atonomi and Bancor that will facilitate easier integration with existing IoT devices and help speed up smart contract creation. Swytch has also begun partnering with companies in the renewable energy field such as E2M, and HST Solar to help with estimating investments based on criteria and providing data for Swytch to make better informed token creation decisions. +3
  • Creating an incentivized system that allows current investors that may not have had a reason to build in certain areas will help promote development in areas not generally seen as a great investment. Now areas of the world that need renewable energy the most will most likely get it first as the incentive programs reward that more than building in an already, overserved area. +4

Disposition

Swytch is looking to reduce pollution and energy costs on a large scale. Not only is Swytch helping renewable energy companies reach areas that may have never been served but they are also incentivizing investors more to build in those areas first with the token minting model that gives more tokens for underdeveloped areas. Swytch receives a 6.75 out of 10 rating.

Investment Details

  • Token Symbol: SET
  • Token Type: ERC20
  • Token Price: $0.50
  • Token Sale Supply: 365,000,000 SET
  • Available for purchase: 200,750,000 SET
  • Hard Cap: $60 million USD
  • Private Presale: Ongoing
  • Main Sale: Dates TBD

For more information regarding Swytch:

Website: swytch.io (team, detailed roadmap, whitepaper)
Telegram: t.me/Swytch (7,992+ members)
Twitter: twitter.com/swytchio
Facebook: facebook.com/swytch.io
GitHub: 
github.com/swytch-io
Medium: 
medium.com/swytch