$100,000 Breakfast May Help Global Solar Energy

New Cryptocurrency May Have Positive Environmental Impact

WEBWIRE – Monday, January 27, 2014

"It is great to have a form of payment that is supporting sustainable energy production.” Charles Moore

$100,000 Breakfast May Help Global Solar Energy

Greenwich, CT – January 27, 2014 – Last week a small but significant transaction took place over breakfast in Greenwich, CT. Five thousand ‘SolarCoins’ were exchanged in lieu of a breakfast valued at around $20.

What is SolarCoin you may ask and why is this significant? SolarCoin is an alternative digital currency developed by a group of volunteers from around the world as a not-for-profit entity.

The transaction last week has some similarities to the evolutionary tale of Bitcoin, the most mature digital currency. In an early exchange, a developer paid ten thousand Bitcoins for two pizzas back in 2010, valued at eight million dollars at today’s exchange rate. Alternative currencies trade on dedicated exchanges as well as being recognized by an increasing number of retailers.

Local resident John Dolan paid Charles Moore for the breakfast at Le Pain Quotidien restaurant on Greenwich Avenue in Greenwich, CT using SolarCoins sent from his digital wallet to cover his $20 share of the meal. Commenting on the transaction Charles stated “it was easier for John to pay me with his digital money than traditional cash or credit card! It is great to have a form of payment that is supporting sustainable energy production.” “Early transactions like this on and offline are helping to establish the true value of SolarCoins, so we will see who got the best deal over breakfast!” John Dolan added “these transactions help validate the proposition and test the infrastructure. Cryptocurrencies are in their infancy. Our early focus is on the technical community mining the crypto currencies online and the environmental groups to support affinity marketing and distribution of SolarCoins to their members.”

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About SolarCoin
SolarCoin is an alternative digital currency developed by a global not-for-profit group of volunteers. SolarCoin is designed to incentivize the production of 97,500 TWh (TerraWatt hours) of global solar electricity generation over the next 40 years. It is 50X more carbon efficient than Bitcoin.

What makes this cryptocurrency unique from all others is that SolarCoin is backed by two forms of proof of work. The first is a Solar Renewable Energy Certificate (SREC) representing 1 MWh of generated solar electricity that has been 3rd party verified. The second is the traditional cryptographic proof of work associated with digital currency. SolarCoin is equitably distributed using both of these proofs of work as a means to reward renewable energy production.

Further information on SolarCoin can be found at www.solarcoin.org
Follow SolarCoin on Twitter @solarcoin_SLR
Join the SolarCoin group on LinkedIn