It’s believed that most of the Africans are unbanked. There is difficulty when transferring money from one country to the other especially from the European nations to the African countries. The difficulty in money and value transfers across borders has led to low investments by Africans. However, cryptocurrency is overcoming that barrier. People are now in a position to transfer funds across the whole world using one cryptocurrency. Cryptocurrency makes the transaction costs to be so low than as compared to transferring money through banks.
Bitcoin is on the rise as one of those cryptocurrencies which are on the forefront of overcoming the Africans relatively low financial capability. According to the CEO and founder of The Sun Energy, bitcoin is in a position to unlock the continents solar potential. The cryptocurrency enables solar ownership without any border restrictions. So long as one is in a place where there is high intensity of the sun, then the person can own a solar panel and lease them to a commercial project and earn income from it. Long are days when it was believed that the only way to own a solar panel is to purchase them and install them on your private roof. Technology has now made the physical connection a gone case.
Acquiring a low-cost clean energy is so fundamental not only to Africa but also to the whole world’s economic development. All the requirements to have the type of energy are at the disposal of Africans what remains is the executions of the ideas and putting them into reality. The Sun Exchange is on the move of bringing the solar energy ownership into reality.
The Sun Exchange in collaboration with the local installers and developers are working to build a mixture of community and commercial & industrial solar systems and mini-grids. The solar, solar energy will be sold in prepaid terms and revenue given to the owner at the right time. The $10 solar can be leased to someone in Africa for 20years, and the same single cell could be owned by somebody in California where they might not require installing the solar panel.