SolarCoin is a cryptocurrency created in 2014 by a SolarCoin Foundation and is designed to accelerate the transition to a clean energy economy. It is based on a blockchain technology.
What exactly is blockchain?
A blockchain is a reliable transaction log book — a database. Transactions can be digital tokens that represent a coin, the logistic chain of a product, or even the assignment of a record to a library book. Blockchains are distributed by large open peer-to-peer networks, making it difficult to hack and minimize error. Because information changes are scanned and recorded immutable on a network, the records cannot be changed or tampered with.
As a blockchain-based technology, SolarCoin is global and decentralized, with similarities to other cryptocurrencies such as Bitcoin. But while the other digital currencies based on blockchain are associated with high energy consumption, SolarCoin encourages the production of renewable energy. The model is based on a rewards system, where owners of photovoltaic systems can receive a SolarCoin for every MWh of energy produced.
SolarCoin (SLR) can be traded on different exchange platforms online and exchanged for currencies such as dollar, euro or other digital currency.
GoParity — single national official partner of the project SolarCoin
SolarCoin entry in Portugal is interesting for the Portuguese financial market as well as for GoParity. The cryptocurrency stimulates not only the production, but also the investment in solar energy, increasing the return on these investments.
As GoParity became partners with the SolarCoin Foundation, we are keen to encourage more photovoltaic system owners to claim their SolarCoins through their online registration. We introduced a double return idea, meaning that those who invest in photovoltaic projects in GoParity should receive, in addition to the usual interest on investment, an additional reward through SolarCoins.
GoParity proposes that 40% of all SolarCoins distributed to a project, be shared with its investors.
“The advantages of having SolarCoin in Portugal are diverse, not only because of our great solar production potential, but also in terms of the safety with which we do have. It is an additional reward system that in no way affects the investments made through our platform. We couldn’t imagine a better way to get in and give our investors access to the world of cryptocurrencies” admits Nuno Brito Jorge, CEO of GoParity.
The first project that was paid to the investors in SolarCoins was Cererra de Pegões (the only brick producer on the south bank of the Tagus). Check it here: