M-PAYG makes transactions using crypto-currencies and executes the payments contracts on blockchain. The M-PAYG concept has two sides and both include blockchain: 1 Mobile money or Blockchain technology to pay into the cloud and 2 real time monitoring of the solar panel (including shut off/on).
They use a leasing to own model: 5 USD per month gives the consumer a flat rate of solar energy.
Converging technologies: energy (M-PAYG) and payments, WIFI were three separate fields are now targeted together. MPAYG are starting with providing energy, and other partners are delivering the towers to roll out wireless internet connectivity to the rural areas.
This will allow for more value added services: data calls, e-health, e-farming, insurance, e-banking, payments, education, content.
“Currently, we are working with mobile wallet providers like M-PESA to bring solar energy to the unbanked part of the world. But in the future, our business could build on Blockchain-based payment solutions, radically lowering transaction costs and taking out the centralised middleman as a provider of trust,” says David Dizon, co-founder & CEO of M-PAYG[11]