Power Ledger Coin, the local token of the Australia-based Power Ledger platform, aims to build a world where electricity can be reliable, affordable, and clean for everyone. This peer-to-peer energy trading platform, supported by smart contracts on the Ethereum network, democratizes energy trading with transparent systems that allow individuals and communities to choose their energy sources.
In the dual token model, POWR serves as the utility token for users to access the platform, while Sparkz represents local electricity credits tied to traditional fiat currencies for market participants. Both tokens are used to create an economy that enables fair energy exchange between households generating electricity and their neighbors.
Power Ledger is a rapidly growing technology company that facilitates the trading of electricity and environmental commodities using blockchain technology. According to the platform’s descriptions, a fully modernized market-focused grid can solve all electricity problems and offer the ability to select desired energy. Power Ledger’s mission is to provide a platform for this market and democratize power in the process.
Power Ledger lists its attributes as being passionate, inclusive, and innovative; focusing on strategy, business goals, and the need for success; accepting weaknesses and limitations to build trust; embracing healthy disagreements and discussions with satisfaction instead of fear; supporting each other to gain the loyalty of all staff; and being cautious in managing and minimizing risks.
Additionally, Power Ledger aims to achieve global brand recognition as a leader in energy, carbon, and blockchain fields. Being a leader in innovation from the user and market perspectives through active deployments in major regions including the US, Europe, India, North and South Asia, and Australia in technology advancements is also among their goals.
The blockchain-based platform uses two digital tokens, POWR and Sparkz, to ensure consistency in operating all energy markets globally. On the other hand, business partners and customers who want to utilize environmental commodity products also need POWR to access and use Power Ledger technology.