Power Ledger is a blockchain-based platform that aims to solve different problems with energy and is fueled by a native utility token POWR. The project was launched in May 2016 by 2 entrepreneurs Jemma Green and Dave Martin and is still perfectly fulfilling its tasks. The main goal of this platform is to make it easier and cheaper to choose energy from renewable resources for end-users. Energy markets cannot keep up with the latest advancements in solar technology, so POWR stands forward to do this job for them.
The market is fueled by 2 cryptocurrencies, POWR and Sparkz. POWR tokens allow hosts to interact with the ecosystem and offer them protection with the help of a special Smart Bond technology. These tokens can also be exchanged for Sparkz which in their case may be used for transactions in the energy exchange market.
Nowadays, energy markets cannot distribute and control energy management mechanisms on a good level so Power Ledger has invented its own method to make everything mentioned above happen. They see blockchain as a possible savior of electricity distribution and wisely use it.
Project's technology works in three different markets: Energy trading, environmental commodities trading, and renewable asset ownership.
The energy trading software developed by Power Ledger can be used to buy and sell energy in real-time from any part of the world. With this software, all transactions are safe and fair since they are protected by blockchain technology.
Using the Power Ledger technology you can commit environmental commodities trading in a more transparent, safe and overall productive way. Thus, POWR can be used to track energy from renewable resources and offset emissions.
Moreover, the technology used in renewable asset ownership which activates more renewable assets and makes more green energy available.
Power Ledger products
At the time of writing, the project has 22 products in 8 different countries all around the world. Among the most successful ones are the following.
The first project is called Powerclub and is located in Australia. It is an Australian national energy retailer that provides Virtual Power Plant functionality to customers in South Africa. The platform facilitates the physical dispatching of stored energy while there are high price intervals using blockchain technology.
Another project Alperia SpA is located in Italy. Alperia is a huge green energy provider with a lot of loyal customers. The blockchain technology of Power Ledger is going to be used to increase the variety of services offered to Alperia’s customers. With its help, Alperia will be able to offer such services as energy trading and origin verification.
One other project is called M-RETS and is located in North America. It is a blockchain-enabled REC marketplace and it tracks generation from renewable resources around North America and serves as a trusted gateway to environmental markets.
The POWR token
The token of Power Ledger is one of the main aspects maintaining the ecosystem of the whole project. It was officially distributed via private sale on the 27th of July 2017. The official public sale was conducted from September 8th until October 6th of the same year with 150 million more POWR offered.
It is an Ethereum-based token that is implemented into the core of the Power Ledger. Since it is an ERC-20 type it can be stored on wallets only with ERC-20 support, such as MyEtherWallet, Metamask, Coinomi or Ledger Nano S.
POWR tokens can be exchanged into Sparkz which is the second token within the ecosystem that the project depends on. Unlike POWR, this one can be used for transactions in the energy exchange markets protected by blockchain.
Power Ledger team and key partners
Dr. Jemma Green is the executive chairman of the project. She set her career plan quite early, completed a Ph.D. in electricity market disruption and then became a researcher at Curtin University. Jumping to the year 2016, she cofounded a blockchain project called Power Ledger.
John Bulich is a technical director and another co-founder of this massive project. He develops strategies for further improvement of Power Ledger and stands at the top of the technical team to develop the project even further.
Power Ledger also has a US registry M-RETS partnered with them. Power Ledger has partnered with the following registry to organize a REC (Renewable Energy Certificate) marketplace in the United States.
Another key partner is the Italian green energy firm called Alperia. This partnership allows the Italian company to use the blockchain solutions of Power Ledger to experiment with new possible services such as energy trading and origin tracking.