Power Ledger is looking to revolutionise the way in which renewable energy is traded across the world. It is a distributed, interoperable energy trading platform that supports a wide variety of applications focused on the use of energy. You can read the whitepaper here.
Power Ledger addresses 2 major problems using blockchain:
1. Declining utilization of electricity networks which could be maintained through a marketplace for distributed energy assets and associated transactions underpinned by the blockchain (e.g. peer to peer trading across networks)
2. Low penetration of renewables in apartment buildings, where a shared ownership and allocation model for microgrids could be provided by the blockchain (e.g. peer to peer trading in buildings)
The project relies on a dual token system, which means that they are able to focus on 2 different markets (the retail market and the peer-to-peer trading network) using the 2 different tokes.
1. POWR tokens – these tokens serve as the fuel of the ecosystem. In order to participate in the platform, you need POWR tokens to generate Sparkz tokens.
2. Sparkz tokens – these represent the value of a unit of energy and is dependant on the domestic currency. Sparkz is the currency that will be used for transactions within the Ecosystem.
So essentially people who have a source of renewable energy, like many people have solar energy in Australia, would be able to trade it on a platform relying on Blockchain technology.
A full list of all the applications of Power Ledger can be found here.
ICO and supply
The ICO offered 350 million tokens for sale, which were priced at $8.8 cents per POWR token. As part of the pre-ICO pre-sale, 190 million tokens were sold for approximately $13 million dollars.
The total supply is 1 billion tokens with a current circulating supply of 350 million. As of today, one POWR token is worth $0.72.
Dr Jemma Green is the leader of a team that consists of several experienced individuals in the field of renewable energy. Dr Green has considerable experience in investment banking and a research fellow at Curtin University Sustainability Policy (CUSP) Institute. John Bulich and Dr Gov van Ek are also part of the team, the latter being the founder of Ledger Assets, which is a Blockchain venture that has successfully created and commercialized technical and commercial blockchain systems and applications such as Uproov.
The proof of concept has already been proven successful in pilot projects in Australia and New Zealand.
In Q4 2017, Power Ledger is developing the application and conducting a beta test of the microgrid / the embedded network operator and the electric vehicle trading applications. Additionally, the Green Loyalty Rewards Program is under test, which is a green energy incentive formula that’s aimed at renewable energy producers.
In Q1 2018, distribution of growth pool takes place, where early application hosts will be gifted POWR tokens to incentivize their use of and contribution to the Platform.
Notably, in Q2 2019 it is expected that there will be a public blockchain transition, so the platform will be operating fully on a proof-of-stake blockchain.
This project has many positives:
- it has been back by several high-profile investors, such as Blockchain Capital (the pioneer VC fund focused on the Blockchain space), Mike Novogratz (billionaire investor and ex-hedge fund manager)
- experienced team – the team consists of people who have vast experience in the field of renewable energy
- Proof of concepts that have been successfully delivered
- Strong demand – raised $13 million dollars in 72 hours at pre-ICO and ICO was sold out
- Zero-Carbon Footprint – the proposed efficiency and cost-savings from Power Ledger’s model may precipitate greater adoption of solar power as a renewable energy source
I believe this is a great project which has very good long-term potential. I bought some token during ICO and then at $0.16 cents and I am planning to hold for a while even thought I have already made some gains. I believe that Power Ledger could achieve at least $2 per token in 2018.
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