A new company in Nigeria, OneWattSolar to enable Clients to make Solar power payments utilizing blockchain
OneWattSolar, a recently established firm headquartered in Lagos, Nigeria has thought of a method for enabling a large number of Nigerians to make payments for solar power by utilizing blockchain tokens with no need to pay for the system set-up which is usually financed by banks.
It was an idea Victor Alagbe, the organization's VP of activities and blockchain methodology, had been pondering when he came across an article about Elon Musk. The point is for clients to buy tokens in naira (Nigeria’s legal tender) utilizing the platforms of third-party fintech organizations. "It gives straightforwardness, you can see the usage of resources, what number of frameworks we have bought and what number are being utilized." The tokens utilized have been developed based on the Ethereum’s blockchain network.
On a conventional administration utilizing non-renewable energy sources, power use is about 70 Nigerian naira ($0.19) per kilowatt hour. "However, on the blockchain framework it is 50% less expensive than diesel," asserts Alagbe since the costly upkeep expense of generators is controlled. Rather OneWattSolar's framework comes with solar panels and a fitted worldwide web empowered switch that will naturally gather information on power utilization that is billed month to month on a pay as you go system.
In spite of the fact that OneWattSolar has just been functioning and taking shape for 8 months, it is a branch of Go-Solar Africa, a sustainable power source organization that has been working in Africa for the last 8 years. The OneWattSolar is intended to dispatch in January 2019 where it will distribute 1,000 solar setups that are completely operational the organization stated.