Power Ledger (POWR): A Review of the Blockchain-based Energy Platform
Power Ledger (POWR) is an Australian company that developed a peer-to-peer, blockchain-based energy platform on which renewable energy can be sold between buyers and sellers without the need of a third-party ledger.
Token holders are able to buy and sell unused renewable energy by using the Ethereum blockchain technology, as well as to record usage and consumption. Token owners can sell the energy surplus they generate in their own homes. The energy can then be transmitted through micro-grids or typical electricity distribution networks.
Buyers are able to select only clean energy sources as they trade with other consumers. All trading parties benefit from leverage transparency. All transactions, as well as the amounts of energy generated and consumed, are recorded on the blockchain, meaning that settlements will be significantly low. This will, in turn, produce higher returns for power consumers who invest in renewable energy.
Applications for Power Ledger
A few of the available applications of the platform allow power metering, the acquisition of data, rapid microtransactions, as well as grid management tasks. Grid management functions are managed at a granular scale.
Wholesale market settlement
The platform has features for wholesale energy marketplaces which include data aggregation, settlement and reconciliation, transparent dispatch optimization and management-related features. All transactions are processed at a fast and affordable rate.
Distributed market management provides the ability to manage network load balancing, data metering, data collection, assets dispatch, and transactions that are settled automatically.
Power Port is an application that supports assets that are connected to the supply of mobile storage discharge facilities. This application has the purpose of maintaining a constant supply of energy to consumers.
The Electric Vehicles app uses the Open Charge Point Protocol (OCPP) which manages various functions such as user identification, data collection, transaction settlement and the generation of real-time metering data.
Carbon Trading provides smart contracts to anyone who wants to engage in carbon trading. The contracts offer assurance for all virtual transactions, as well as the transparency and credibility of assets. Transactions can also be audited. Carbon traders can submit certified credits to regulatory authorities or institutions.
Autonomous Asset Management has the capacity of handling the shared ownership of energy assets and the trading of the said assets. This app is designed to manage the buying and selling of renewable energy in addition to the administration of the POWR cryptocurrency into assigned addresses.
POWR Tokens, Smart Bonds, and Sparkz
POWR Tokens allow users to access the applications and trading features of the Power Ledger platform. Aside from in-platform trading, these tokens can be used in real-life applications. Transactions unfold in an unregulated market which does not need a middleman to mediate trades.
POWR tokens act like a software license by giving users access to the platform and all its features. Those that have POWR tokens in their possession have instant access to smart bond functionalities.
Sparkz are the platform’s internal currency and they are used to buy and sell energy. Tokens can be converted and held as deposits for Sparkz in an Ethereum smart bond escrow specifically made for Sparkz. Users can unlock the smart bond by returning the Sparkz.
Conclusion
Power Ledger is a company worth investing in because it combines digital energy and peer-to-peer networking to provide a green and accessible energy supply solution.
