Sun Exchange, a clean energy company based on blockchain in South Africa, revealed an investment of $3 million from Arch Emerging Markets Partners. Sun Exchange is a peer-to-peer initiative in the field of solar energy. It enables users to use Bitcoin or South African fiat rand in rural areas to buy solar power.
If it is meant to help the poor people in South Africa then they need to give them the basic things to use those power, i am confused whether they are providing free electricity to the poor people to use bitcoin at a minimal rate but do these poor people have the resources to invest in bitcoin and start purchasing solar power, until there is a comparison between their power station charges and how much Sun is going to provide.
The CEO of the Sun Exchange, Abe explained that the reason why Bitcoin is chosen is because they need one universal payment system that enables micro transactions down to a millionth of a U.S. cent
Bitcoin for micro transaction
. We need to wait for some major changes for that to happen.
