What is Power Ledger (POWR)?
Power Ledger (POWR) is a project about distributing or exchanging products related to renewable energy such as solar and wind energy. It is built on the Ethereum Blockchain platform to allow users to do business for other users without intermediaries. The Power Ledger platform creates peer-to-peer transactions for energy products by recording both the creation and consumption processes of all platform participants in real-time. Energy production and use are traded at predetermined prices.
POWR Token is the electronic currency used in Power Ledger to pay the costs in the system. Without a sufficient number of 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 purchased with fiat money and then transferred to POWR to perform operations in the platform).
How does Power Ledger work?
The Power Ledger system monitors the energy consumption process of all participants and deals with energy transactions according to predefined terms and conditions. The user will then receive a registration email from their sending system. The next thing they do is click on a link that will go to the user registration and password to register an account to access the system. And when they log in, they can see their electricity usage and all the details of their purchases.
When logging into the system, it is based on the number of POWR available to users to offer the most suitable service packages through smart contracts in the platform.
Power Ledger’s team are people with in-depth knowledge of the power market in general and electricity in particular. Including some outstanding members such as:
Jemma Green (President and Co-Founder): Green is responsible for Power Ledger’s strategy, risk management and leadership. She has had a financial career spanning over 15 years, with 11 experience in investment banking. She also holds a PhD in Disruptive Innovation.
David Martin (CEO & Co-Founder): Martin has a wealth of experience noted for his 20-year career in the electrical industry. He has held executive positions in two-state power companies and has been a senior expert in the energy industry for over six years.
Bill Tai (Board Advisor): He has an MBA from Harvard, Tai is a world-famous venture capitalist. At the same time, he is currently the Chairman of Treasure Data and also a member of Bitfury and Boxer. In addition, Tai is part of the World Forum Technology Pioneer Committee and is an adjunct professor at Curtin University.
Application of Power Ledger
- Transact electricity on the ecosystem
- Smart supply and demand management for retailers
- Microgrid / Embeded network operator
- Agreement in wholesale market
- Account management proactively
- Electrical equipment management
- Power port
- Purchase and sale of carbon emissions
- Exchange transmission
Power Ledger with the development team ‘s goal is to provide P2P transactions for automatic settlement, allowing settlement payments. In addition, creating a safe and secure trading platform to create a reputable and professional environment.
With the current cheap price, along with the development advantages, this is the currency that can solve the current weaknesses. As the current high growth rate, this is a potential currency with long-term profitability in the future.
You can check POWR price here.