Bitcoin
$65,949.67+0.04%
Ethereum
$3,180.70-0.70%
Binance Coin
$604.62+1.13%
Solana
$154.13+0.08%
XRP
$0.54335287+1.80%
Dogecoin
$0.15766605-1.57%
Toncoin
$5.62-7.59%
Cardano
$0.51215945-0.34%
Shiba Inu
$0.00002628-3.06%
Avalanche
$38.04-2.77%
Wrapped Bitcoin
$66,005.610.00%
Polkadot
$7.35-1.18%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
35
DAYS
23
HR
10
MIN
26
SEC
Markets

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.

By Sebastian Sinclair
AccessTimeIconMar 31, 2021 at 11:08 a.m. UTC
Updated Sep 14, 2021 at 12:34 p.m. UTC
beer
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

See also: Australia’s Government Allocates $5.3M for Blockchain Pilot Projects

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.