Power Ledger, established in May 2016, is a blockchain-based platform that revolutionizes the energy industry by allowing local communities to trade solar energy directly with each other, bypassing traditional intermediaries. This Australian-based technology company leverages blockchain for energy and environmental commodity transactions, offering a more reliable and affordable electricity solution.
The platform reached a significant milestone in 2015 when 30 countries achieved grid parity, making solar energy cost-competitive with conventional electricity prices. Power Ledger employs solar energy combined with blockchain technology to create a more cost-effective and sustainable energy alternative.
Power Ledger’s system operates on two blockchain layers, using POWR tokens and Sparkz. POWR tokens are essential for accessing the platform and are traded on the Ethereum Smart Bond exchange, while Sparkz is used for energy transactions within the platform.
The platform boasts six innovative products, including Power Port and uGrid, which facilitate various energy solutions. These products enable users to engage in peer-to-peer energy transactions seamlessly.
Power Ledger’s Founding Team and Market Position
Founded by Dr. Jemma Green and her team, Power Ledger has made significant strides in the energy sector. Dr. Green, serving as the executive chairman, brings her expertise from various advisory roles. As per CoinMarketCap data at the time of writing, Power Ledger ranks 191st with a substantial trading volume and a circulating supply of over 434 million POWR coins.