- 09 Jul, 2018
Perth-based Power Ledger is decentralizing energy ecosystem through blockchain. It offers a peer to peer energy trading platform for its customers to sell their surplus solar power to others without any intermediary. This blockchain based system tracks the generation and consumption of solar energy by all participants and validates trade settlement based on pre-defined contract terms. Power Ledger platform allow users to login to the accounts and track the amounts of electricity consumed themselves or sold to others.
Need for Power (POWR) tokens
According to the latest Renew economy report, Australian solar power is expected to double by 2020, as households continue to invest in rooftop panels to reduce electricity bills. More than 90% of Australia’s solar energy is attributed to rooftop panels while large scale projects meet the remaining. Australian rooftops continue to remain the highest contributor for global solar energy.
Power Ledger co-founders David Martin and Dr. Jemma Green created ‘power tokens’ to decentralize the energy ecosystem and harness renewable energy in multiple ways. The peer to peer energy trading will allow low-income families to access renewable energy. The system aims at building more efficient and sustainable power grids, distribution networks and payment models. Trading of ethereum based POWR tokens will also enable ordinary people to participate in the energy market.
What are POWR tokens
Power Ledger’s token (POWR) is an ERC20 token on the Ethereum blockchain. It is a protocol token which use can be used to purchase electricity. These tokens can also act as reward to electricity producers who uses Power Ledger platform to settle their production and consumption.
The POWR tokens is an uncapped ICO without the maximum contribution limits enabling all investors to participate in token crowdsale. The escrowed ICO platform accepts bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Fiat currency to purchase POWR tokens.
The POWR ICO started in the last week of August have manged to sell 85 percent of the pre-sale tokens. The campaign is expected to raise up to $30 million from the available 350 million token sales by end of September.
Power Ledger tokens are anticipated to reward its investors and early supporters with its potential to carve the future of renewable energy.
Token Generation Event (https://tge.powerledger.io/index.php#crowdsale)
About Power Ledger (https://powerledger.io/)