The network currently relies on users uploading documentation to prove they are generating solar energy, but the Internet of Things may one day make this process automatic.
Its goal is to incentivize the production of this type of energy. In some parts of the planet, the project claims, solar energy is now produced under $12 per MWh, and the cost keeps on dropping. SolarCoin is distributed as a reward for solar installations and its goal is to see the price of the token exceed the production cost of the solar energy so it effectively becomes free, in a process called Solarity. SolarCoin (SLR)įirst up is SolarCoin (SLR), a global and decentralized cryptocurrency project looking to make solar energy more accessible to everyone in the world, by minting one SLR token for every megawatt hour (MWh) generated through solar technology. While it would be nearly impossible to list every single environmentally friendly project, we came up with three green cryptocurrency projects to keep an eye on in 2021. Some cryptocurrency projects have already set out to improve our world through the use of blockchain technology. It could for example be used to bolster renewable energy or incentivize sustainable practices.
Blockchain technology has already revolutionized a number of industries and while its impact is mostly felt on the financial industry, it can be used to create a greener world.
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