Global warming and climate change have been a contentious issue in recent times. While a lot of positive steps and regulations have been introduced in an attempt to combat these issues, a lot of work still needs to be done in order to slow down the rate of climate change.
One of the b5est ways in which this can be achieved is utilizing renewable energies, such as wind and solar. It is likely that you will have seen neighbors and friends who have solar panels on their houses, or you may have some yourself.
These can be a great source of energy and can do everything from heat up your house to allowing you to use electrical appliances using only the heat from the sun.
There is still a lot of scope to improve when it comes to the adoption of solar technology, which is where Geostellar steps in.
This is a patented platform that will tailor a solar plan in an interactive manner in order to meet the energy needs of individual homes and businesses in the best and most efficient manner.
The members of the Solar Club are those people who are successfully levering the platform’s capabilities in order to encourage and promote the use of solar in their local communities.
Geostellar has a goal of issuing a cryptocurrency for solar power, called Zydeco. Their plan is to have each of these blockchain tokens to be a representative of a single watt of solar power capacity.
Geostellar’s Performance to Date
Geostellar has been around since 2010 and they have had an average yearly growth of 146% between 2014 and 2016. They have a whole host of illustrious investors, such as Select Venture Partners and Matador Capital and their revenue figures for 2016 was $3.5 million.
They recently ran an equity crowdfunding campaign whereby investors could invest any amount from $100 upwards in return for an equity stake.
They had a minimum funding goal of $50,000 and they managed to exceed this handsomely, finishing their fundraising on October 17 of this year with a total amount of funds sitting at $325,308.
They utilized an agreement on the crowdfunding platform Republic called “Simple Agreement for Future Equity” whereby the open up the option to purchase equity in the company at a future date if certain events take place or milestones are hit.
Part of the incentive to partake in this crowdfunding was that investors received a certain amount of the Zydeco cryptocurrency depending on how much they invested. For example, an investment of $1,000 in Geostellar would yield you 450 Watts of Zydeco Solar Powered Cryptocurrency.
Geostellar and Their Zydeco Cryptocurrency
Geostellar intends to have an initial coin offering (ICO) in the near future for their Zydeco cryptocurrency. Each token is representative of a single watt of solar energy and funds raised from this ICO will be used to fund further solar projects.
Eventually, the holders of Zydeco tokens will be able to earn recurring revenue from these funded solar projects or they can be sold back if preferred.
Do note that as of now, only the initial code for these tokens has been developed and they are not sure if these tokens will comply with U.S. securities laws and there is no obligation for them to actually hold an ICO.