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April 8, 2018

SunCoin split: welcome Solar Bankers Coin!

The Solar Bankers team has decided to split its cryptocurrency and launch a new token, Solar Bankers Coin, which will run in parallel to SunCoin. The new token has been issued and will be distributed to SunCoin users over a period of approximately one week starting from Thursday, April 12th, 10am CET.

Owners of SunCoin will receive an amount of the new token equivalent to the number of SunCoins in their personal wallets in a newly developed wallet which users will have to download from our website. Users’ SunCoin wallets will remain operable and SunCoin will continue to be traded on the exchanges it is currently listed at.  

 

Steps:

Date of the split: Thursday, April 12, 10am CEST.

If you are a SunCoin user, you will only receive an amount of the new Solar Bankers Coin equivalent to the amount of SunCoins located in your personal wallets at the time of the split. This means that coins located on exchanges will not be recognized by our distribution mechanism and users will not receive new tokens for these coins. By the time of the split, you must transfer all coins for which you wish to receive new tokens to your personal SunCoin wallet.

Next, you have to download the new Solar Bankers Coin wallet from the Solar Bankers website, for which a download link will be published in the following days.  

In the Solar Bankers Coin wallet, create a new wallet using the same seed as your original SunCoin wallet. This will allow us to associate your new Solar Bankers Coin wallet with your original SunCoin wallet and distribute tokens accordingly.  

Note that the distribution of the new coins will be done manually by our staff. This means that, starting from the date of the split, it can take up to 3-4 business days for the new tokens to arrive in your Solar Bankers Coin wallet. If by Tuesday, 17th of April, you have not received your new tokens, please contact us for support.  

The new Solar Bankers Coin is not automatically listed on the same exchanges as SunCoin. The first exchange the new token will be listed on is Next Exchange.  

 

Why?

The launch of the new Solar Bankers Coin marks an advancement in Solar Bankers’ strategic outlook. Solar Bankers has begun targeting its model for decentralized P2P energy trading developing countries seeking to expand rural electrification. At Solar Bankers we believe that the provision of clean and affordable energy is perhaps the most fundamental aspect of sustainable development. The UN has included the provision of clean and affordable electricity as the seventh of its seventeen Sustainable Development Goals. The reduction of poverty, the stimulation of local investment, improved child education, and increased participation in the globalizing economy through improved communication are all major development objectives which, on a basic level, depend on the availability of a reliable electricity supply.

Given the tremendous developmental benefits of rural electrification, governments in developing countries have made the expansion of grid infrastructures a policy priority. Yet governments face high cost barriers to expanding the central electricity grid, not least due to rough terrain and low population densities. The IEA estimates that under current conditions, by 2030 the number of people without reliable electricity supply could increase from 1.2 billion to 1.4 billion people. Especially in Africa, population growth is outpacing the expansion of electricity supply.

Efforts to efficiently expand rural electrification require integrated packages of easy-to-use and easily deployable technologies that enable off-grid electricity production and distribution as well energy self-sufficiency on the household level. Solar Bankers’ concept for decentralized energy generation meets these criteria.

We combine our cutting-edge PV equipment with third-generation blockchain technology to provide communities, utilities, and governments with a comprehensive “package” of basic applications containing everything they need to build micro grid-based P2P electricity networks in which households can produce and trade energy. Individual households are provided with Solar Bankers’ internationally patented concentrating PV devices, which make use of a nano-structured polymer foil that is able to selectively diffract different wavelengths in order to reduce heat effects in high-temperature environments and thus maximize electricity output while reducing the amount of silicon used by up to 90 percent. Solar Bankers uses the highly scalable and efficient Fiber (formerly Skyledger) blockchain platform to create a digital currency system linked to smart meters installed by households along with their energy-generating devices, creating a smart contract platform for efficient and secure electricity trading.

This system enables energy autonomy on the household level. Individuals can become energy entrepreneurs. They gain an additional source of income by selling electricity they do not use. Passive consumers benefit from reduced electricity bills because the open marketplace regulates prices rather than the arbitrary pricing strategies of utility companies. This integrated package of technologies – a one-stop-shop – enables remote areas in developing countries to properly participate in the globalizing economy in a sustainable way.

This shift in orientation has led to disagreements over strategic outlook with our Chinese partners Shellpay. We have become aware of fundamental differences in business values and long-term vision with Shellpay and have therefore decided to end the partnership. In order to distance ourselves from the collaboration with Shellpay and raise awareness for our new goals and vision, we are distributing the new Solar Bankers Coin, which will now act as the primary digital currency for the Solar Bankers platform.

 

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