Looking for a 4NEW Review? You’re in the right place. Today we are looking at 4NEW ICO and we are going to share our full review. If you’re wondering whether 4NEW is a scam or a legit ICO keep reading as we will reveal everything. If you want to get involved in the 4NEW ICO, the time is now. The token sale is fast approaching its hard cap. Read more about 4NEW in this review below.

4NEW Review

4NEW is a team that hopes to solve the energy consumption problem with cryptocurrencies by generating energy from waste products.

In the 4NEW whitepaper, they cite that the team who is behind the project has over 300 years combined expertize in the area. They are positive that they can bring about a solution to the problem of high energy use with crypto.

Current cryptocurrency mining problems

During the year 2017, the market of cryptocurrency has grown immensely. At present, the total market cap totals to over $700 billion. But since the price has inflated, even the cost to mine cryptocurrencies has risen as more and more miners have been getting involved.

The amount of electricity used by Bitcoin miners exceeded the amount that was utilized by the entire of Denmark during the previous month. There have been no signs of slowing down and it has become a huge problem. It is assessed that by this time coming year the amount of energy used mining only Bitcoin will be the equal of the 20th highest energy consuming country if this trend continues.

The estimated cost of mining Bitcoin yearly is now almost $2 billion. 262 KWhs are used for just a single transaction on average.

Over the last few decades, the price of electricity has been around $0.15 per KW if you take inflation into account. But with lots of people now claiming that they think blockchain technology will gain wide range usage, it can result in a huge increase in the amount of electricity being used. It would of course then also force prices up.

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How can 4NEW solve this crisis?

4NEW is planning to create energy by refining waste products into the water and organic material. 4NEW can then use it to put up for sale to the national grid or to utilize on their own mining farm.

4NEW aim to finance the cost of refining the waste with the income that they will make by charging to collect the waste and selling any more valuable products that they collect. It is cited in the 4NEW whitepaper that this should totally cover the costs of generating the energy or even leave them with an extra profit.

The 4NEW blockchain

Initially, the new project will run on the Ethereum blockchain. It will permit them to make use of smart contracts. It offers an extra layer of trust for anyone transacting with each other.

Nonetheless, 4NEW soon aim to switch to using their own blockchain.

Owing to the platform, they themselves being a producer of energy, it will offer them with a key advantage over their competitors. This is so because their costs for mining should be much cheaper.

The team behind the 4NEW hopes to transform the sectors of Waste, Energy, and Cryptocurrency at the same time. They also hope that their 4NEW token will be adopted in various industries.

How can Token Holders of KWATT profit?

All the available 4NEW tokens will be equal to 1 KW of electricity. 4NEW aims to offer token holders the choice of utilizing their tokens to buy mining power on their own mine farm and also to be sold back to the UK national grid.

The approximate return for selling to the national grid is only $0.05 in contrast to an estimated $0.2 per KW if it is utilized for mining. It makes it seem like an easy choice.

Each year, 4NEW token holders will then be compensated by a section of the company’s net revenues. It will depend on which option they choose.

It is assessed that each 4NEW power plant will last at least 50 years if you factor this in a pessimistic estimate as the tokens worth would be more than $6. On the other hand, valuations of tokens can vary very much in the cryptocurrency market.

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Roadmap

January 31st: End of ICO unless the 4NEW hard cap is reached earlier.

Quarter 1 2018: Buying 3 new sites for the power plants in the UK. Start of development for the platforms’ own blockchain. Beta testing the new KWATT token with service providers.

Quarter 2 2018: Start of installation of the 4NEW waste to energy plants on all 3 sites. Blockchain integration with the new smart meters.

Quarter 3 2018: Initial marketing to attract customers to the 4NEW services. Developing relationships with businesses with access to large quantities of waste.

Quarter 4 2018: Installation of the 4NEW waste plants completed.

Extra Token Usage

The KWATT token has a clear use on the platform, dissimilar to several of the current ICOs. The team behind the project states that they want the token to also be utilized for several types of transactions also. They've already set up deals with some large companies and offered more uses for the token:

4NEW Mining farm: The project will also have its own mining farm. Token holders will be given the choice of either mining or selling their electric to the national grid.

Money transfer: Two money transfer companies that own a combined turnover of $25 million monthly will also add the new KWATT token to their platforms.

4NEW Licensed pharmacy: A US Pharmacy company that processes $24 million yearly sales also plans to accept the new token for purchases on their website.

4NEW Insurance company: Plans are there to offer the token as a payment method for an insurance company that has more than 90,000 customers.

4NEW ICO Details

Total tokens for sale: 300 million, any unsold tokens will be burned.

Type of token: ERC20

Token Sale end date: 31st January

Price: 1 ETH= 2010 KWATT at present

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