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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.