Solarcoin Awards Coins for Solar Power Generation

Most altcoins seem to tweak technical or monetary principles. Here’s one with a single purpose: to promote renewable energy. It’s calledsolarcoin, and people are mining it now.

The brainchild of Nick Gogerty, principal at Thoughtful Capital Groupand self-proclaimed “deep finance geek”, solarcoin is designed to reward people for producing energy via photovoltaic solar panels.

Gogerty, who advises hedge and mutual funds on equity investing, is all about the mechanics of value creation. He has a book coming out on how to create value in the adaptive economy.

The initiative is based on a paper that Gogerty co-authored in 2011. “The concept was how a central bank could use energy as a currency and how that could tie into an economy. Nothing came of that, due to the fact that you needed a central bank,” he says.

source coinbase