Blockchain And Bitcoin Are Rebuilding Puerto Rico, Thanks To Local Entrepreneurs

Many people know that Puerto Rico is a country that is off the power grid. Basically, 40% of the country’s power system is not reconnected to the grid – meaning that more than a third of the cell towers are down and there are people living in shelters because their homes have not been rebuilt.

These are some of the challenges that Puerto Ricans are facing. So, how does this story involve blockchain and cryptocurrencies in a way of improving this country’s situation?

As of lately, local entrepreneurs in Puerto Rico have coupled in order to bring solar panels and similar stuff in order to improve the power grid of the country. The efforts developed to a point where there is a market for electricity being built as we are speaking.
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Now, the interesting thing is that this exact market will be using cryptocurrencies and blockchain as its main source of power – and will probably recover from the devastating Hurricane Maria that struck more than a month ago.

Local entrepreneurs are working with local people in order to create a community of houses that will be connected to a hospital. Both the houses and hospitals will be powered by solar panels, and each house with extra electricity can sell it to the hospital or the neighboring houses via cryptocurrencies.

This form of physical infrastructure powered by a digital infrastructure is certainly going to reassure many people that Blockchain enables simple and transparent insight on where the power is being produced – while the cryptocurrencies are here to provide the ability to reward the people whose houses are producing more and enable the ones who are consuming more to access it.

This project is now underway and should be implemented in early 2018. According to many of the entrepreneurs, it is the best solution to use what they currently have and stand up safer and stronger than ever before.