Solar Energy Startup Uses Bitcoin to Spur Investment

The Sun Exchange, a South African green energy startup, is a new lending platform that connects people who want to invest in solar energy from across the world with local projects through bitcoin. The investment process is outlined in the following diagram:

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By using bitcoin as a transaction method, The Sun Exchange eliminates many of the costs and inefficiencies associated with international lending. It avoids the fees associated with currency conversion and allows for instant transactions. Bitcoin allows investors throughout the world to fund innovative projects securely and inexpensively. Investors in these projects can expect to receive a rate of return of 10%, which is also transmitted through Bitcoin.

Currently, the company is running a campaign to furnish a school in Stellenbosch, South Africa with rooftop solar panels. Though The Sun Exchange is only active in Africa at the moment, it plans to expand its operations globally. In addition to providing investment opportunities, the exchange provides the framework to borrow money to begin your own green energy projects. The Sun Exchange demonstrates the exciting opportunities presented by Bitcoin to remove financial barriers and red-tape, especially in financially-underserved areas like Africa, and to fund innovation at a global level.

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Jake Steele is a sophomore at Georgetown University studying finance and management. During his time at Consumers’ Research, he has examined developing trends in finance and technology.

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