When the subject is the world cryptocurrency, people tend to think and/or visualize it as something quite abstract, with hardly any palpable application in the real world other than finance. However, a project by Liquidstar is clearly showing this not to be the case, as it is harnessing the power of crypto to bring electricity to rural areas that desperately need it.
Liquidstar has designed a custom 20 foot shipping container, called Waypoint, that is able to create electricity thanks to the solar panels it has on top. That electricity is then used to, among other things, charge batteries and purify water, which people can then rent or buy.
Waypoints are being placed where people’s primary energy sources are kerosene and diesel, such as areas of Indonesia and several African countries – these areas are selected in partnership with Local Governments, the UN, Unicef, ACTED, USAID and the Ethereum Foundation.
Because of their efficiency, not all the energy produced by Waypoints is consumed in the ways described above, so Liquidstar makes use of the remaining energy to mint carbon credit NFTs, mine green bitcoin, and mine ethereum.
For every 1535 NFTs minted, Liquidstar promises to deploy a new Waypoint in a rural area in one of the target countries. In addition, at the end of each month, they return 5-34% of all mining based revenue streams and carbon credits sold to our users in their local currency.
In a world where asymmetries just keep getting bigger, especially after the COVID-19 pandemic, Liquidstar’s vision that electricity is the currency of the universe and should therefore be available for everyone, is one to be praised – even more so considering they are doing that also with the help of new tech such as crypto.