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Meet Africa’s Blockchain Startups: The Sun Exchange

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Founded in 2015, Cape Town-based startup The Sun Exchange connects people who want to invest in clean solar energy with projects in Africa.

The startup provides a peer-to-peer lending and funding platform that allows anyone in the world to invest in solar panel projects using bitcoin. The Sun Exchange then leases the purchased cells to schools, hospitals, and factories, among other end users and makes sure that its clients earn rental income from the cells that they buy.

The Sun Exchange works like crowdfunding. A project only kicks off after the sale of all the solar panels. All the leasing, distribution, and revenue collection is done for the client. In doing this, investors earn passive streams through solar panel rental income.

How does it work?

The Sun Exchange notes that thousands of people in Africa do not have access to clean energy. Instead, they use unclean methods to fuel their homes and places of work. This is despite the presence of abundant sunshine. Finding a loan to connect homes to the grid is cumbersome and expensive.

So, The Sun Exchange steps in to outsource funding from bitcoin users around the world. The bitcoin users buy solar panels for specific projects. Then, the company installs the solar cells. Thus, homes, factories, and communities receive reliable solar energy while investor earn rental fees.

To join, investors need to sign up for an account on The Sun Exchange platform and choose the project that they would like to invest. The assets for sale are limited, but there are multiple projects for the users to fund. After the user enters the number of solar panels they want to buy, The Sun Exchange provides an estimate of the possible earnings.

After the purchase of all the available cells for a project, the company goes ahead to implement it. Eventually, the investors gain from their investment. If the client fails to pay, the solar power disconnects automatically.

The Sun Exchange’s Value Add To Society

The Sun Exchange enables investors to generate a socially responsible income on their invest bitcoins but, perhaps, more importantly, The Sun Exchange also helps to promote the use of clean energy and the electrification of remote African communities and implements solar panel projects in African communities.

Tags : bitcoinsouth africasun exchange
Kinyua Njeri

The author Kinyua Njeri

Kinyua is a Kenyan freelance writer who focuses on technology. Kinyua’s motto is ‘Research deeply, Test thoroughly, and Write simply’. His work has appeared on Cyberogism, SpyAdvice.com, and in The Nairobi Times.