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Lykke Allows Users to Trade SolarCoin on Its Platform

Avatar Gautham 3 years ago

As long as humankind exists, the energy sector will continue to thrive. With people gradually switching to alternative, clean energy resources, the Solar energy industry is expected to gain a boost in the near future. Lykke, a Switzerland based fintech platform has understood the potential of SolarCoin and extended trading support to the cryptotoken.

Lykke offers a blockchain based trading platform where people can easily trade various crypto based/linked financial assets. The platform has recently announced the inclusion of SolarCoin — a cryptocurrency to incentivize solar power generation to its list of tradable assets. With the new development, people will soon be able to buy, sell and exchange SolarCoin for other fiat and cryptocurrencies.

In the latest press release, the CEO of Lykke — Richard Olsen was quoted saying,

“Our users can now convert sunshine directly into francs, euros or bitcoins. Bringing the SolarCoin currency into the Lykke Exchange is a logical extension of our long-term plan. We are always looking for ways to expand market access and increase participation. Challenging conventional wisdom is what we do best, and we will be able to do that much better with the passionate, forward-thinking SolarCoin community on our exchange. “

The SolarCoin is similar to air miles but dedicated to solar electricity generation. People having solar panels installed on their roofs can gain a SolarCoin for each 1MWh of power generated. In order to obtain the digital currency, they have to share meter readings, verified by the region’s regulatory authority for the purpose of confirming the units of generated power. Based on the verification, the SolarCoin will be credited to community member’s respective wallet.

SolarCoin is currently the world’s largest community-based solar electricity reward program and its inclusion on Lykke will enable the members to trade as well as realize the value of the currency in their preferred fiat or cryptocurrency. The increasing popularity of blockchain based incentives for alternative energy will be instrumental in encouraging more clean energy initiatives at the grass root levels.

Ref: Press Release | Image: Shutterstock
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