A group of five youths, including one from Chile, has won an international hackathon event, co-hosted by the NITI Aayog and others, for their idea on implementation of blockchain in the Indian solar industry.
They were adjudged winner in the event organised by the International Blockchain Congress, the largest gathering of innovators, businesses, technologists, regulators, start-ups and enthusiasts in India to-date, Abhishek Pillai, one of the team's members, said.
Their idea of developing a crowdfunding platform for solar projects fetched them a cash prize of Rs 1 lakh during the event, he said.
Team Unergia, after the massive encouragement received by all the members of the panel, has decided to turn their efforts into a full-fledged start up. They are implementing blockchain to crowdfund solar projects, Pillai said.
Unergia is creating a platform powered by blockchain, to enable crowdfunding solar projects. The investors will have an incentive of getting high returns on their funds and roof providers will receive cheaper electricity. Unergia will remove middlemen and ensure transparency through blockchain, he claimed.
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