Nigeria-based startup OneWattSolar building blockchain-based solar systems for African homes that use tokens as payment

Briefing

Nigeria-based startup OneWattSolar building blockchain-based solar systems for African homes that use tokens as payment

October 25, 2018

Briefing
  • Blockchain-Based Solar System – African solar startup OneWattSolar developing blockchain-based solar system where consumers pay for solar energy using tokens without paying for installation, which are funded for by investors
  • Currency Exchange – Customers can exchange Nigeria's naira currency for tokens on Ethereum blockchain using third-party fintech platforms
  • Cheaper Energy Source – Blockchain-based solar system is 50% cheaper than diesel, saving on generators which are expensive to maintain, while traditional fossil fuel services cost 70 Nigerian naira ($0.19) per kilowatt
  • System Components – Include solar panels and Internet-enabled router that automatically collects energy usage data
  • Short and Long Term Goals – Plans to launch 1,000 fully operational systems in January 2019 and supply one million homes across Sub-Saharan Africa by 2025

Accelerator
Clean Energy Generation, Distribution and Management, Web3 Ecosystems, Tokens and Consensus Mechanisms

Business Model and Practices

Business Model
and Practices
Data, Interfaces and Algorithms, Leveraged Third-party Assets, Unique Value Propositions

Sector
Energy

Organization
OneWattSolar

Source

Original Publication Date
October 24, 2018

Leave a comment