As a followup to my Bitcoin post, there is a new “solar energy” coin in the solar marketplace that operates much like Bitcoin. It is a coin in which people with solar panels can trade in their energy-saving certificates, which they receive monthly for feeding energy into the solar grid, for coins. However, these coins are currently WORTHLESS in the market (unlike Bitcoin), but if it catches fire with solar panel owners founders say it can be worth $20-$30/coin. The problem is what incentive is there for someone to want SolarCoins? When comparing cash vs. SolarCoins, SolarCoins are not accepted everywhere, they do not store value nor are they a unit of account (i.e. prices of goods are not quoted in terms of how many SolarCoins it requires to buy). Alternatively, cash does. The only thing that SolarCoin seemingly offers, like Bitcoin, is the money is unregulated and thus “untraceable”.
Okay, perhaps maybe there is another “benefit” of SolarCoins… it is “green”.
Check out SolarCoins here: SolarCoin article in New Scientist