About

Powerledger develops software solutions for tracking, tracing, and trading renewable energy. Their platform enables consumers and producers to transact energy and trade environmental commodities. Powerledger has clients and projects across multiple countries and continents.

History

Power ledger is building a platform where users can contribute or consumer clean energy resources across the network. Pegged to local currencies and convertible to cash, the platform aims to focus on individuals in high density and urban environments. Unlike centrally managed power systems, these decentralized energy resources are not powered by one central provider, potentially creating a more competitive environment and preventing the potential for complete system shut downs.

The team believes that by building this blockchain enabled peer-to-peer energy platform, they can reinvent energy markets. They intend to have a wide menu of energy applications including ones that can give retailers or users the ability to simply trade electricity with one and another in real time. Long term, the team envisions an application that will allow for shared ownership of energy assets as well as autonomous energy agents that will automatically disperse energy that is acquired.

Power Ledger operates on two blockchain layers and uses two tokens, POWR and Sparkz. The POWR token is an ERC20 token that can operate on the Ethereum network. Sparkz, on the other hand, is purchased and redeemed using fiat currencies within individual trading platforms that have closed-loop exchanges for energy and Sparkz. In the system, the POWR tokens are the protocol tokens used to access the Power Ledger platform, as well as interact with the Sparkz token directly. Sparkz tokens are stable and pegged to local currency. As the Sparkz tokens are a closed loop internal token, they can move instantly with banking overheads to allow for timely micro energy transactions. In the future, the team expects that application hosts such as property managers, utilities and retailers will demand the POWR tokens as their platforms grow and they will need the Sparkz to power the platform.