Power Ledger (POWR) is a project for the distribution or exchange of renewable energy related products such as solar and wind energy. It is built on the Ethereum Blockchain platform to allow users to do business without going through middlemen. The Power Ledger platform generates P2P transactions for energy products by recording both production and consumption of all platform participants in real time. Energy production and use are traded at predetermined prices.
Token POWR is the cryptocurrency used in Power Ledger to pay the costs in the system. If there are not enough POWRs, neither the seller nor the buyer can access the system. At the same time, it is also used to create another token in the system, Sparkz (the token is purchased with fiat currency and then transferred to POWR to perform operations in the platform).
How does Power Ledger work?
The Power Ledger system monitors the energy consumption of all participants and processes energy transactions under predefined terms and conditions. The user will then receive a registration email from the system. The next thing they do is click the link, which will lead to the user and password registration, and then sign up for an account to access the system. And when they log in, they can see their electricity usage and all of their purchase details.
When logging into the system, based on the amount of POWR available in the hands of the user, the system will provide the most suitable service packages through smart contracts in the platform.
Power Ledger development team are people with in-depth knowledge of the energy market in general and electricity in particular. Including some prominent members such as:
Jemma Green (President and Co-Founder): Green is responsible for Power Ledger’s strategy, leadership, and risk management. She has 15 years of experience in the financial sector, with 11 years of experience in investment banking. She also holds a PhD in Disruptive Innovation.
David Martin (CEO and Co-Founder): Martin is noted for his 20 years of experience in the power industry. He has held executive positions in federal power companies and has been a senior expert in the energy industry for more than six years.
Bill Tai (Council Advisor): Tai holds a Master of Business Administration from Harvard, he is a famous venture capitalist in the world. At the same time, he is currently the President of Treasure Data and also a member of Bitfury and Boxer. In addition, Tai is a member of the World Forum’s Technology Pioneering Committee and an adjunct professor at Curtin University.
Applications of Power Ledger
- Electricity transactions on the ecosystem
- Smart supply and demand management for retailers
- Microgrid/embedded network operator
- Create a contract at the wholesale market
- Actively manage your account
- Electrical equipment management
- Electric gate
- Trading carbon emissions
- Exchange transfer
The Power Ledger development team aims to provide P2P transactions for automatic payments, allowing payment of payments. In addition, creating a safe and secure trading platform, along with a reputable and professional environment.
With the current cheap price, coupled with the advantages of development, this is a currency that can solve the current weaknesses. With current high growth rate, this is a potential currency with long term future profits.
You can see the POWR price here.
Dislaimer: This information is provided as a personal blog, not general information or investment advice. We are not responsible for your investment decisions.
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