South African Blockchain Startup Tackles National Energy Shortage

• South Africa’s energy grid is in a downward spiral.
• A South African blockchain company aims to address the issues that plague the national grid.
• In related news, the issues at the country’s sole energy provider continue with more cuts.

Since late 2007, South Africa has been battling a major energy crisis that led to the implementation of demand-reduction measures such as “loadshedding,” which reduce the strain on the national power grid. Now, a South African-based blockchain company by the name of MegaTech (MGT) has stepped up to assist in solving this problem.

According to the company’s website, the project will utilize the decentralization of distributed ledger technology to overcome some of the major issues South Africa’s energy grid faces, such as a lack of transparency, delayed payments, and an underdeveloped infrastructure.

The company will also look to increase the supply production of energy in South Africa through its rapidly expanding solar farm operation by utilizing its latest acquisition of the Beta Project. Notably, the Beta Project is a 60 MW solar farm with “100 MWh integrated storage” located in Hertzogville Free State, South Africa.

Founded in 2020, MegaTech is an alternative energy supply company that is implementing the latest in green sustainable energy and blockchain technology.

In related news, the problems at South Africa’s sole energy supplier, Eskom, continue as its Koeberg power unit tripped this past Saturday morning. This is just less than a month after it was hit with several mechanical issues.

Sikonathi Mantshantsha, an Eskom spokesperson, said in a recent interview, “Eskom can confirm the unit tripped from full power during a routine testing of the control rod.”  He added, “the process to return the unit to service is underway.” However, there was no clear indication of when the unit will come back online.