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The Sun Exchange Launches SUNEX Token to Fund its Solar Project Insurance Fund

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SUNEX token

The Sun Exchange, a South Africa-based blockchain startup, has announced the launch of its new SUNEX network token. The SUNEX token will be used to create a solar project insurance fund for emerging markets on The Sun Exchange platform.

The SUNEX network token will be utilised on the new Sun Exchange Solar Project Insurance Fund (SPIF) which has been built to unlock financing and minimise risk for financially underserved solar projects.

The Sun Exchange is a blockchain-based solution that provides members with a unique opportunity to earn income by investing in clean solar energy projects across Africa. Those looking to invest in the solar panels are able to purchase each solar photovoltaic (PV) cell online at $10 and lease them for installation to schools, businesses, hospitals as well as other organisations in Africa and the Middle East.

Individuals who invest in the solar cells are able to earn monthly income from the lease of the solar cells that are either paid in cryptocurrency or fiat currency with the consumers benefitting from access to clean energy that is affordable.

The new SUNEX digital network token and SPIF are the latest additions to the innovation designs that The Sun Exchange is developing to maximise benefits for its stakeholders while eliminating the obstacles hindering the financing of solar energy installations in developing countries.

SUNEX Digital Token Features

As an ERC20 standard token that has been built on the Ethereum blockchain and is designed to make solar asset ownership more affordable and rewarding, the SUNEX token’s features include:

  • Opportunities to receive up to a 20 percent return in tokens by staking SUNEX tokens into the Sun Exchange SPIF
  • Access to discounts and lease bonuses when using The Sun Exchange
  • Priority access to new solar projects on the platform
  • A gamified rewards programme, which guides users towards maximising the diversification and social impact of their solar cell portfolio

One of the main concerns for The Sun Exchange is to provide its members with a secure financial environment. For this reason, all the solar projects they have launched to date have proven reliable due to their rigorous approach to due diligence.

“The new Sun Exchange SPIF creates a new layer of security and reliability as the company grows, stimulating investment in impactful solar projects,” stated Larry Temlock, co-founder and CFO in a company press release, and will be “the world’s first crowd-sourced default insurance fund for clean energy projects in emerging markets.”

The Sun Exchange’s SPIF will:

  • Safeguard The Sun Exchange solar cell owners against costs associated with potential solar project defaults
  • Unlock the flow of capital into emerging markets Commercial & Industrial (C&I) solar projects, accelerating critical economic and social development
  • Allow The Sun Exchange members can grow their token holdings by staking SUNEX tokens into the SPIF

Solar Projects Financing a Drive for Economic Development

Speaking on the new SUNEX digital token and SPIF, Abraham Cambridge, founder and CEO of The Sun Exchange said: “Small commercial and industrial solar projects can drive urgent economic development by powering organisations such as hospitals, schools, small and medium businesses in developing regions. However, with aid organisations and NGOs primarily funding residential solar, and large banks and financiers only backing large and utility-scale projects, C&I solar projects fall into a major funding gap. With the new SUNEX network token and SPIF, Sun Exchange is leveraging blockchain and the crypto-economy to further bridge that funding gap and address a very real global challenge with the power to impact the lives of millions.”

David Orban, the founder and Managing Partner of Network Society Ventures, and one of the investors in The Sun Exchange’s projects said: “We have invested in The Sun Exchange and purchased SUNEX tokens, because we believe in the fundamental value of the business, and in the healthy growth of the network as people all over the world embrace renewable energy. The innovation of coupling blockchain with solar energy decentralizes renewable energy funding and production, democratizing access and setting the stage for the long-term growth of Sun Exchange’s activities.”

To date, The Sun Exchange has provided financing for four different solar projects across South Africa that are fully operational. These include two wildlife rescue and protection parks, a school and a tire recycling factory. In addition, The Sun Exchange’s crowdsale for its fifth project that is meant to provide power for an environmental NGO South South North sold out in a record-breaking two weeks.

“What is fantastic about The Sun Exchange model is that it benefits us as the recipient of power and it benefits the people buying the solar cells and it’s also a win for the environment,” said the Director of South South North, Carl Wesslink. “Their unprecedented approach to solar financing can achieve installation at scale on a commercially sustainable basis. This is the catalyst required for realising our (distributed) energy revolution.”

The SUNEX network token will be available for sale through a public token event from April 22, 2018, at 12:00 PM UCT to both existing Sun Exchange members as well as the general public. The Sun Exchange SPIF will then be created shortly after the token sale comes to an end. Additional information on the new SUNEX token, token sale and SPIF can be found on the SUNEX Network Token Whitepaper.

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Brave Rewards: How to Earn BAT Using the Brave Browser

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Brave Rewards

Chances are you are using an ad blocker on your browser because you find ads intrusive. But did you know there is a free browser that comes with built-in ad and tracking blockers? In this guide, you will learn about the Brave browser and how you can earn Brave Rewards.

What is Brave?

earn bat

Brave Software introduced the first version of Brave in 2016, a web browser that blocks ads and website tracking while allowing users to tip content creators with Brave Rewards.

Advertising websites target the data of users, therefore, infringing on their privacy. Brave is mitigating this issue by offering privacy protection. As a user of Brave, you have the power to choose whether you want to view ads or not. You can earn Brave Rewards by opting into ads that respect user privacy.

Content creators that publish on other browsers like Google Chrome depend on advertisements to make money. However, on Brave, you can tip content creators and support them for their contributions directly.

Here is how Brave stands out:

  • You can turn Brave Rewards and ads on or off
  • Brave ads do not retrieve your personal data
  • Brave picks ads that are suitable for you
  • When you view an ad on Brave, you get 70 percent of what the advertiser paid
  • Ads on Brave appear like system notifications and are, therefore, not intrusive
  • Since brave blocks harmful ads and trackers, you will experience faster browsing

At the end of November 2019, Brave hit more than ten million active monthly users after the release of Brave version 1.0. Like Google Chrome, Brave is based on Chromium, Google’s open-source software project.

How to Start Earning BAT

Basic Attention Token (BAT), the digital currency used on Brave, is based on the Ethereum blockchain. To start earning BAT, follow these steps:

  • Visit the Brave website and click “Download.”
  • Choose the download version that suits your operating system. Brave is compatible with Windows, macOS, and Linux. You can also access the Brave apps for Android or iOS on the same page.
  • Open the application and click “Run.”
  • After a second or two, the application will start downloading.
  • Once the download process is complete, the installation process will begin.
  • When your browser has installed, you can now launch it.
  • Go to the main menu and click “Brave Rewards” then the “Rewards Icon.” Next, click on “Rewards Settings” to enable Brave Rewards.
  • On this page, turn on Brave Rewards and ads.

You can now start surfing the internet and viewing ad notifications as they come. Note that you will receive BAT for viewing the ads not for clicking them. Brave sends an alert on or before the fifth of each month allowing you to claim the Brave Rewards you have earned from viewing ads.

Furthermore, you can choose to hold or tip content creators with your Brave Rewards. To view the BAT you have earned, go to the “Rewards Icon” on the main menu and then click the “Rewards Panel” which will appear on the right-hand side of the address bar.

Brave allows users to transfer their BAT to another wallet where they can convert it to other digital currencies or to fiat and have it transferred to their bank accounts. To do this, you have to link your Brave wallet to your Uphold account.

Besides using the Brave browser, you can also earn a small amount of BAT for participating in the Coinbase Earn Program. The program rewards you in BAT for learning about Brave and BAT.

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Scam Alert! Scammers in Kenya are Now Using Facebook’s Libra to Defraud Crypto Users

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Libra Kenya

Scammers in Kenya are now using Libra to make quick gains from unsuspecting victims through a company called Calibra Kenya.

According to its website, the “company” is promising to increase investors’ money three-fold within six months if they invest amounts from KES 20,000 to KES 950,000. The deadline for this “investment deal” (read scam) is November 31, 2019.

Facebook’s Libra is yet to Launch

Bitcoin Scam“Calibra Kenya” is cashing in on Facebook’s Libra, a cryptocurrency that is not yet rolled-out. Calibra Kenya told Gadgets Africa that they are waiting for the Libra launch in January 2020 for investment to begin. However, it is currently unclear when Libra will launch. Facebook had originally announced 2020 as the launch date but the company has said that it will only launch until it has sorted out regulators’ concerns.

Since Facebook announced the cryptocurrency in June, the embattled crypto project has lost a quarter of its members while Mark Zuckerberg is set to testify before the US House Committee on Financial Services today.

The Kenyan “company” has borrowed the name from Libra’s digital wallet, Calibra.

Scammers That Are Also Self-Proclaimed Philanthropists

“Sir John,” a Twitter account holder promoting Calibra Kenya, claims he is a philanthropist. This is similar to a scam story BitcoinAfrica.io recently covered where the alleged swindler was a self-proclaimed philanthropist on LinkedIn. The aforementioned Twitter account also belongs to the Libra Cryptocurrency Association Kenya.

While scamming and philanthropy have nothing in common, it appears that scammers could have found a way to entice their victims in the name of social good.

Moreover, the fact that Sir John claims he is a nature-lover and a passionate entrepreneur and investor in the fintech industry goes to show how far scammers will go to appear legit.

Spotting the Red Flags

It might be obvious to most that Calibra Kenya is a scam but to some, this might not be the case. Therefore, here is a list of what is wrong with this “investment opportunity”:

  • Libra has not yet launched. Anyone asking you to invest in a currency that does not exist is a fraud.
  • Any individual or company that is promising a 50 percent return every month on investments is a scammer. Such high returns are unrealistic. Additionally, in a volatile market, returns cannot remain constant and are bound to fluctuate from month to month.
  • Facebook’s Libra only has one association, the Libra Association, which currently has 21 members. These members are well-known international companies like Uber, Spotify, Vodafone, Mercy Corps, Xapo Holdings, PayU, and Coinbase. Libra Cryptocurrency Association Kenya and Calibra Kenya, therefore, have nothing to do with the real Libra Association.
  • Should you consider a website with grammatical errors suspicious? Yes, you should! Calibra Kenya’s website is guilty in this regard.
  • According to Calibra Kenya, investors will get their money back at the end of the contract. This is a cause for alarm as any legit investment platform should allow investors to withdraw their investment plus returns at any time.
  • On their website, Calibra Kenya throws around crypto and blockchain-related terminologies to confuse and mislead their readers. For instance, they claim that they create smart contracts, that they are the official Libra cryptocurrency exchange in Kenya, and that they are a tier two member of the Libra Association. This does not make any sense and is only meant to confuse readers.
  • The website contains a lot of payment information which is another red flag. It indicates they are only focused on making money.
  • Their website is too “salesy.” Words like “investment opportunity,” “invest now,” and “we make your dreams a reality” are obvious red flags.
  • Calibra Kenya does not provide a platform for investors to track their investments. That means that once you send them money, you have no way of finding out how your investment is performing. The only mode of contact is a phone number that they could easily disconnect.

Unfortunately, reports of crypto-related scams are increasing as major developments take place in the industry. Similar fraudulent websites also appeared during Telegram’s token sale, for example.

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Particl Launches Decentralised Marketplace With Zero Commission Fees

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Privacy-focused cryptocurrency project Particl has launched a decentralised marketplace with zero commission fees. The new e-commerce platform is leveraging blockchain technology to compete with the likes of Amazon and OpenBazaar.

Privacy and Zero Commission Fees

ParticlCryptocurrencies can be difficult to spend on a day-to-day basis and Particl wants to solve this through its private coin, PART. On the Particl marketplace, users can put the digital currency to use.

The new decentralised marketplace respects user privacy and does not require personal information from its users. The platform only requires a shipping address. Moreover, the decentralised nature of the Particl marketplace ensures that no commissions are added to sales as is the case on Amazon.

According to an article on Big Commerce, fees for sellers can be as much as 45 percent of a product’s cost on Amazon. Particl’s zero-free model, therefore, enables sellers to significantly increase their revenue and lower their prices to stay ahead of the competition while still making a profit.

“Using a combination of P2P and blockchain technologies, Particl Open Marketplace can provide a verifiable private shopping experience that ensures no user data can be created or collected by any party other than the one you are transacting with. The Particl protocol also brings the cost of buying and selling online to the bare minimum as no central entity can charge fees,” said Particl’s Project Marketing and Strategy Manager Paul Schmitzer.

How Particl’s Decentralised Marketplace Works

Particl is uniquely approaching fraud and trade insurance through the use of a double deposit escrow system without intermediaries and with zero fees. This system is based on MAD game theory where two parties deposit PART coins as collateral into a smart contract. Once the transaction between them is complete, the coins are released back to the parties and no fees are charged. This system allows users to be in control of their transactions and to eliminate fraud.

 

Since the marketplace is decentralised, the protocol generates all listing fees and redistributes them to the global network of users.

Particl is made up of three components: an untraceable multi-purpose privacy coin, a private decentralised marketplace where users can shop with cryptocurrencies, and a platform where developers can build decentralised applications.

Particl allows a wide range of cryptocurrencies and uses atomic swaps and third-party integrations to convert these coins to PART during transactions. The company will soon add more payment options to its marketplace.

In 2018, Bitcoin Africa talked to Particl’s spokesperson Desi-Rae about the project. Read the full interview here.

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