South Africa - based Sun Exchange and US - based Powerhive have launched a financing model that uses blockchain and cryptocurrencies to finance the construction of solar minigrid projects in rural Kenya . Sun Exchange uses crowd selling to sell solar panels that are then leased to communities and companies . Powerhive will use the proceeds from the sunex digital token sale to construct solar minigrids in Kenya , with assets then offered for sale to Sun Exchange members . The partnership is expected to raise $ 23 million in funding that will in turn fund 150 new projects .
South Africa-based Sun Exchange and US-based Powerhive have launched a business model that uses blockchain and cryptocurrencies to finance the construction of solar minigrid projects in rural Kenya. Sun Exchange uses crowd selling to sell solar assets that are then leased to communities and companies. Powerhive will use the proceeds from the sunex digital token sale to construct solar minigrids in Kenya, with panels then offered for sale to Sun Exchange members. The partnership is expected to generate $23m in capital that will in turn fund 150 new projects.