Mercado Bitcoin, one of the largest crypto exchanges in Brazil, has announced that it is planning on creating a renewable energy token. To buttress its seriousness, it entered into a partnership with a popular retail energy provider in Brazil, Comerc, and the aim of the collaboration is to create the aforementioned tokens.
It is expected that two kinds of tokens will be developed by both parties, and the first one will be released in 2022. The aim of this token will be to act as the utility token for a cashback program linked to solar power generation.
Comerc has an existing framework that offers a cashback offer to their clients that opt for solar power. As for the second token, its use case is linked to the certificate that lists renewable energy consumption.
The CEO of Nori- a company that is linked to Comerc- Matheus Nogueira told Reuters that,
‘The token can be treated like any other currency, but it has an additional advantage, it is a token which represents a renewable generation.’
According to CoinTelegraph, an executive working for Comerc noted that:
‘First, decarbonization, encouraging clean energy; the second is decentralization, our factories are based on distributed production…and finally, digitization.’
At the moment, Mercado Bitcoin sees itself as one of the biggest crypto exchanges in Latin America, catering to millions of users within the region. If these innovations work, they could help put the crypto world in a more positive light. One of the financiers of this exchange is Softbank, a Japanese multinational conglomerate that invested hundreds of millions of dollars into it.
