Aussie Beer Can Now Be Exchanged for Excess Solar in New Program Involving Blockchain
The program has been developed in partnership with Victoria Bitter, retailer Diamond Energy and blockchain startup Power Ledger.
Mar 31, 2021 at 11:08 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/MYS5BKTG5BHPRKHHZFOV4QS3EQ.jpg)
One of Australia's iconic beers can now be exchanged for excess power generated by solar and tracked with the help of blockchain technology.
According to a press release on Wednesday, Victoria Bitter (VB) has launched its Solar Exchange program, allowing participants to exchange credit on their power bill generated from solar panels for slabs of beer.
VB will receive the solar credits it obtains under the exchange from Diamond Energy. Power Ledger technology allows users to trace the transactions of rooftop solar energy on a public ledger and to trade excess energy produced on an open marketplace.
Customers who sign up to the program can track how much beer they’ve earned based on how many solar energy credits they have exchanged with VB.
Every AUD$1.25 generated in excess earns a program participant one VB, 24 VBs, worth roughly AUD$30, gets a case of beer delivered to the front door.
The program, which currently has 500 spots available, is part of Asahi Beverages’ sustainability agenda following its acquisition of Carlton & United Breweries last year, according to the release.
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