Cryptovest’s Q&A Session with Sun Exchange – Crypto Powered Solar EnergyJune 13, 2018
Sun Exchange talked to Cryptovest about the link between crypto and solar energy, expansion plans, competitors, and regulatory challenges, among others.
Q: What is the connection between crypto and green energy?
A: On the most fundamental level, crypto and solar energy are complementary, and both represent the ideas of decentralization and democracy. Crypto is a decentralized and distributed form of money, while solar power is a decentralized and distributed form of energy.
On a more material level, crypto is money created on a silicon chip powered by electricity. Solar energy cells are silicon chips that PRODUCE electricity sold for money. Combining these things creates the basis for a whole new economic paradigm, one that is silicon-based, clean, and passive.
Q: What markets will you cover first?
A: Our solar projects are already operating in South Africa on solar cells owned by our members, who are located in 91 countries around the world. We have just partnered with the United Nations Development Programme to roll out Sun Exchange in Moldova, in Eastern Europe.
Q: What is the role of the SUNEX digital asset?
A: SUNEX is designed to be totally complementary and create an additional layer of value on the Sun Exchange platform. It acts as a rewards currency, earned when the user buys solar assets and solar power. Accumulated token holdings can be staked into our Solar Project Insurance Fund, paying up to 20% returns in SUNEX.
Q: Who are your perfect customers?
A: Bitcoiners who understand that platforms such as Sun Exchange are using Bitcoin as intended, that is, as a universal payments system. They should also understand that Bitcoin was created to start a new financial system. Our ideal customers are people who want to use this new financial system to fund a new energy system!
Q: Who are the project’s competitors?
A: There are a number of blockchain-based P2P energy trading platforms that may appear similar to Sun Exchange to the uninitiated, but they do very different things. P2P energy trading platforms are intended to trade energy on grids, while Sun Exchange deals with the ownership of the hardware that produced those electrons in the first place.
The biggest difference between these two approaches is that the Sun Exchange model is already operating and universally applicable, whereas P2P energy trading has been proven in pilots but is years away from global scaling.
Q: Have you met with any regulatory challenges?
A: As a blockchain and energy company, we have had to consider regulations. Fortunately, we have a very elegant model with already established precedents. We are a leasing company, and our customers are simply leasing solar cells to projects through our platform and earning Bitcoin rental income. However, we have had to restrict US non-accredited investors from buying our SUNEX tokens.
Q: How do you plan to expand the project?
A: We will continue to host diverse and socially impactful solar projects, but in more locations, on larger scale, and with greater income potential!
Q: When are the first pilot projects expected?
A: Our first solar pilot project was delivered in March 2016 It was the world’s first Bitcoin-funded solar power plant and has been powering a school for over two years.
Q: Are there other significant events on your timeline you’d want to share?
A: We are introducing Bitcoin Lightning Network payments into our platform to speed up transactions to the point where we are literally streaming monetized sunshine around the world 24/7/365.
Q: Do you have any other important points to share so as to better present the Sun Exchange project?
The Sun Exchange enables anyone to harvest sunlight as a source of universal basic crypto income, #SolarPoweredMoney! SUNEX tokens are available now through an ICO and are stakeable into a Solar Project Insurance Fund for up to 20% returns. Available through: TSE.TheSunExchange.com
Our latest solar crowd-sale is for Nioro Plastics – a large Cape Town factory that manufactures drinking water bottles from recycled plastics.
This is a 0.5MW solar plant. There are about 90,000 cells still available, and each will yield a forecasted 11.46% IRR paid in Bitcoin. We need to complete this sale in 30 days.
Our ICO has been live for 4 days, and we have already allocated 1.9 million SUNEX at $1 per token.
- Can be staked into our solar project insurance fund for 20% returns paid in SUNEX;
- Gives discounts and bonuses for using Sun Exchange, further increasing IRR;
- Listed on Bancor Exchange.
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