SolarCoin FAQ Evolution

in #solarcoin2 years ago (edited)

What's new in the FAQ's?

I've noticed many new questions being posted on the SolarCoin SLACK group. For any newbie, it is important to know what you are getting into when joining a community and after reading the FAQ's on the SolarCoin.org website, you may still be left with more questions especially because as a system evolves, so do the queries. My aim with this post is to shine light on the most common questions which appear on the channels, lets see if we can grow the list of FAQ's.

New FAQ's

  • When the documentation is complete, how long does verification as issue of the coins take place? As of now, the verification of your documents and your first claim can take up to one month, thereafter, SLR grants will be made every 6 months. Large claims could take slightly longer as more paper work is required for full verification.
  • Is there a master list of all coin holders that received the free coins? Yes there is a list, however, for security reasons and private confidentiality of data (as also stated on SolarCoin foundation claims formular), this data will not be marketed and/or circulated. Some companies may choose to share their SolarCoin registration publicly as part of marketing.
  • Are there any geographic restrictions for such MWp registration such locations as India, China or Iran? No restriction
  • How soon after the issue of the coins can the new holder trade them? The trading of SLR can take place immediately after they have been received into the registered SolarCoin wallet.
  • When a company has verified its Mwh output:
    1- How often do coins issue? Every 6 months
    2- Is the issue automatic or must one register each time? The issuance is automatic and only new and/or upgraded systems must be registered
  • Can one register the coins in a company other than the power producing company? The coins will only be issued to the owner of the system, it will be up to the owners discretion to transfer their claimed coins to other parties however they choose.
  • What about part Project ownership, Can an Owner register such and get coins? The coins will be granted in the name of the SPV (Special Purpose Vehicle) i.e. based on AoA of the registered company running the facility. A POA (power of attorney) is required to claim on behalf of an SPV to ensure the individual is an authorised representative for the facility owner.
  • Is there a particular exchange to trade SLR? At this point there are 5 trading platforms which we are aware of. The top three in terms of trading volume are; Bittrex, Lykke and Livecoin.
  • Who pays for the management and control of Solarcoin? SolarCoin is an open community project run by volunteers working together as the SolarCoin Foundation. The SolarCoin Foundation manages the distribution of SolarCoins to Solar Electricity Generators using verified solar facilities as the “proof of work”
  • What county laws is Solarcoin governed by? The SolarCoin Foundation is a US Public Benefit Corporation registered in the state of Delaware and is therefore governedby US law.
  • As an affiliate, is there a limit to the nameplate capacity I can sign up? No Limit
  • What does 'Staking' SLR mean? * Staking SLR is like earning interest on money kept in a bank. The more money you have the more interest you earn. Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e. the stake). In contrast, the algorithm of proof-of-work (PoW) based cryptocurrencies (such as bitcoin) uses computationally intensive puzzles in order to validate transactions and create new blocks (i.e. mining).*-Wikipedia

I hope this list has helped you to understand the SolarCoin ecosystem better. I would encourage anyone interested in learning more to logon to SolarCoin.org.

If you can think of other FAQ's please add them in the comments below.

Thank You

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Top idea! Nice one. Sorted.

No, hang on... #MrC? (bet that's the first time he's been tagged on Steemit)

Laaaaaahhhvely! :D

Hey this is brilliant - good stuff. Quite a bit of stuff I didn't know in there after six months of being involved in #SolarCoin. And the SolarCoin Foundation is a US Public Benefit Corporation - interesting. Given that the whole SLR ecosystem depends on the SCF distributing the coins, I wonder - from an investment point of view - are they obliged to do that? Perhaps by some sort of consitution?

I’m not entirely sure if distributing the coins is an obligation. A public benefit or B Corp is expected to turn a profit by its shareholders unlike a not for profit which has no shareholders and makes no profit. It’s seems more like part of the business model than an obligation... a % of SLR are owned the the SLRF to cover running costs.

I see. Quite an important issue if future solar builders are going to base their financial projections on SLR.