Through the crowd-sale, users in South Africa and across the globe can buy into the Nioro Plastics solar project and then earn income from the electricity it generates.
Sun Exchange has won several awards and broad recognition for its innovative platform and for promoting sustainable business practises by connecting “conscious capital” to commercial solar projects. Nioro Plastics will be the largest Sun Exchange crowd-sale to date, and will focus on minimising negative environmental impacts of the plastics industry.
The increasing use globally of single-use plastic items such as bottles and packaging is garnering much public attention following recent headlines and studies on the matter. For example, a recent edition of National Geographic revealed how hundreds of millions of tonnes of plastics are entering our oceans each year, threatening wildlife with potential catastrophic impact on the entire food chain.
“Plastics aren’t inherently bad, it’s what we do, or don’t do, with them that counts,” said Sylvia Earle, National Geographic Explorer-in-Residence.
The good news is that much of the plastic we use is 100% recyclable. Thanks to the ongoing campaigning efforts of organisations such as PETCO, South Africa is one of the top countries for collecting and recycling PET, a form of plastic predominantly used to make drinking bottles.
However, electricity is still required to repurpose recycled materials, and while this process is powered by fossil fuels, the industry can hardly claim to be a sustainable “cyclical” solution.
Enter Sun Exchange, described by its founders as the “AirBnB for solar panels,” which enables users to generate an income stream powered by the sun in just a few clicks. Through the Sun Exchange platform, practically anyone can buy solar cells installed onto the roof of Nioro Plastics, which are leased to give the plastic producer low-cost access to clean energy for a period 20 years. This presents a unique opportunity for individuals to put their money to work and earn income while promoting clean energy and sustainability in one of South Africa’s fastest growing industries.
The project also highlights how manufacturers and companies of all sizes, across industries and geographies, can leverage Sun Exchange’s innovative platform to go solar with no upfront cost and minimise their energy costs and carbon footprint.
“We encourage the use of recycling and certainly having some of the energy required for the production of these plastic bottles being solar-driven would be a very good and positive thing,” said Simeon Penev, Managing Director, Nioro Plastics. “It’s a good investment for the people leasing solar cells, because they will be making money.”
How Sun Exchange Monetises Sunshine
Sun Exchange has won global recognition for its disruptive approach to solar finance. The company won the Mondato Award for Social Impact in Sub-Saharan Africa and has been named the best Blockchain Business In Africa at the African Fintech Awards for the past two years running. The United Nations Development Program also recently selected Sun Exchange to pilot blockchain-based solar finance in Moldova.
The Sun Exchange approach to “monetising sunshine” can be broken down in four key phases:
- Solar Project Crowd Sale: Through its buy-to-lease solar marketplace, Sun Exchange sells batches of solar cells for projects that have been vetted for social and environmental responsibility, and for economic viability. During the crowd sale, virtually any individual or organisation, anywhere in the world, can purchase solar cells for only ZAR 60 per cell, and then rent them to be installed in the solar project.
- Solar Plant Installation: Upon completion of the crowd sale, when all solar cells for a project have been purchased, Sun Exchange works with local engineering, procurement and construction partners to build and install the solar power system.
- Electricity and Income Generation: Once the installation is complete (typically within two to three weeks), the solar plant starts generating electricity and solar cell owners start earning rental income based on the amount of electricity their solar cells produce. Owners can choose to receive rental payments in local currency or Bitcoin (BTC), and bonuses in the platform’s own SUNEX digital rewards token.
- Real Time Tracking: Through the Sun Exchange online dashboard, solar cell owners can track the real-time performance and electricity generation of their cells. While solar cells are typically leased under a 20-year contract, owners can choose to cash out instantly at any time.
“Nioro Plastics and Sun Exchange are setting a global precedent for the use of solar power and sustainable practices in the plastics industry in South Africa and beyond,” said Abraham Cambridge, CEO and founder of Sun Exchange. “Anyone interested in conscious capital should participate in the crowd sale and capture the opportunity to earn money while doing good and promoting clean power, all of which can be done with the click of a button through TheSunExchange.com.”
Huge appetite for foldable phones – when prices fall
Samsung, Huawei and Motorola have all shown their cards, but consumers are concerned about durability, size, and enhanced use cases, according to Strategy Analytics
Foldable devices are a long-awaited disrupter in the smartphone market, exciting leading-edge early adopters keen for a bold new type of device. But the acceptance of foldable devices by mainstream segments will depend on the extent to which the current barriers to adoption are addressed.
Major brands have been throwing their foldable bets into the hat to see what the market wants from a foldable, namely how big the screens should be and how the devices should fold. Samsung and Huawei have both designed devices that unfold from smartphones to tablets, each with their own method of how the devices go about folding. Motorola has recently designed a smartphone that folds in half, and it resembles a flip phone.
Assessing consumer desire for foldable smartphones, a new report from the User Experience Strategies group at Strategy Analytics has found that the perceived value of the foldable form does not outweigh the added cost.
Key report findings include:
- The idea of having a larger-displayed smartphone in a portable size is perceived as valuable to the vast majority of consumers in the UK and the US. But, willingness to pay extra for a foldable device does not align with the desire to purchase one. Manufacturers must understand that there will be low sell-through until costs come down.
- But as the acceptance for traditional smartphone display sizes continues to increase, so does the imposed friction of trying to use them one-handed. Unless a foldable phone has a wider folded state, entering text when closed is too cumbersome, forcing users to utilize two hands to enter text, when in the opened state.
- Use cases need to be adequately demonstrated for consumers to fully understand and appreciate the potential for a foldable phone, though their priorities seemed fixed on promoting ‘two devices in one’ equaling a better video viewing experience. Identification and promotion of meaningful new use cases will be vital to success.
Christopher Dodge, Associate Director, UXIP and report author said: “As multitasking will look to be a core selling point for foldable phones, it is imperative that the execution be simplified and intuitive. Our data suggests there are a lot of uncertainties that come with foldable phone ownership, stemming mainly from concerns with durability and size, in addition to concerns over enhanced use cases.
“But our data also shows that when the consumers are able to use a foldable phone in hand, there is a solid reduction of doubt and concern about the concept. This means that the in-store experience may more important than ever in driving awareness, capabilities, and potential use cases.”
Said Paul Brown, Director, UXIP: “The big question is whether the perceived value will outweigh the added cost; and the initial response from consumers is ‘no.’ The ability for foldable displays to resolve real consumer pain-points is, in our view critical to whether these devices will become a niche segment of the smartphone market or the dominant form-factor of the future. Until costs come down, these devices will not take off.”
New exploit exposes credit cards on mobile phones
Check Point Security has found that handsets using Qualcomm chipsets that hold credit and debit card credentials are at risk of a new exploit.
Now it’s more important than ever to update your phone.
Check Point security has found a vulnerability in mobile devices that run Android, which allows credit card details to be accessed by hackers.
Mobile operating systems like Android offer a Rich Execution Environment (REE), providing a hugely extensive and versatile runtime environment, which allows apps to run on the device. However, while bringing flexibility and capability, REE leaves devices vulnerable to a wide range of security threats. A Trusted Execution Environment (TEE) is designed to reside alongside the REE and provide a safe area on the device to protect assets and to execute trusted code. Qualcomm makes use of a secure virtual processor, which is often referred to as the “secure world”, in comparison to the “non-secure world”, where REE resides.
But Check Point “fuzzed” a “hole” into this secure world
In a 4-month research project, Check Point researchers attempted and succeeded to reverse Qualcomm’s “Secure World” operating system. Check Point researchers leveraged a “fuzzing” technique to expose the hole. Fuzz testing (fuzzing) is a quality assurance technique used to discover coding errors and security loopholes in software, operating systems or networks. It involves inputting massive amounts of random data, called fuzz, to the test subject in an attempt to make it crash.
Check Point implemented a custom-made fuzzing tool, which tested trusted code on Samsung, LG, and Motorola devices. Through fuzzing, Check Point found 4 vulnerabilities in trusted code implemented by Samsung (including S10), 1 in Motorola, 1 in LG, but all code sourced by Qualcomm itself. To address the vulnerability, the runtime of Android needs to be protected from both attackers and users. This is typically achieved by moving the secure storage software to a hardware-supported TEE.
Check Point Research disclosed its findings directly to the companies and gave them time to patch vulnerabilities. Samsung patched three vulnerabilities and LG patched one. Motorola and Qualcomm responded, but have yet to provide a patch, and there is no confirmation of a release date yet.
Check Point Research has urged mobile phone users to stay vigilant and check their credit and debit card providers for any unusual activity. In the meantime, they are working with the vendors mentioned to issue patches.