Solar Bankers is working with ShellPay to create SunChain, a community where electricity consumers can produce energy in their homes and sell it to their neighbors. Members of the SunChain install Solar Bankers’ energy-generating equipment to produce electricity, which they can either use of their daily life, store, or sell to their neighbors through smart micro-grids. This system allows homeowners to reduce the cost of electricity and enables each and every user to profit from the solar energy produced in their community. This campaign pertains to the Pre-ICO phase of our fundraiser, which is currently in progress. Solar Bankers' Initial Coin Offering will follow in October-November 2017.
SunCoin represents the ability to participate in a global network of free energy production and exchange. SunCoin derives its utility from the way in which its provides access to a number of services that go beyond the mere liquidity benefits of a standard cryptocurrency or the single commodity backing of other coins. Owners of SunCoin will be able to: (a) trade SunCoin for other cryptocurrencies or fiat currency; (b) get cheaper and cleaner electricity from other members in the decentralized network; (c) purchase Solar Bankers’ energy-generating equipment to produce energy for private consumption; (d) trade SunCoin for CO2 Emission Certificates. These services are in turn facilitated by a solid and mature company, which is backed by a set of strong soft assets – in the form of a game-changing international patent – and a host of ongoing partnerships and projects, cutting-edge product development, and market expertise.
SunCoin is based on the Skyledger blockchain, which makes use of a novel type of consensus algorithm that replaces both Proof of Work and Proof of Stake. This “distributed” consensus algorithm, called Obelisk, is a creation of the developers of Skycoin, among whom there are several early programmers of the Bitcoin network.