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Power Ledger

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Power Ledger (POWR) is an Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. The platform provides consumers with access to a variety of energy markets around the globe and is meant to be scalable to various energy infrastructures and regulations. The market is based on a dual-token ecosystem operating on two blockchain layers, POWR and Sparkz. POWR tokens allow consumers and hosts providing energy to interface with the ecosystem and are protected through Smart Bond technology. POWR tokens can be converted into Sparkz tokens, which can be used for frictionless transactions in the energy exchange market.[1] The initial coin offering for POWR tokens became the largest crowd funding project in Australia and the 14th highest in the world.

History[edit | edit source]

Plans for a blockchain energy trading platform based in Perth, Australia were publicly announced on August 11, 2016, by chair Jemma Green and managing director Dave Martin. On August 24, the company announced that it would utilize Ecochain technology to store energy readings. Power Ledger's white paper was officially released in a company press release on July 27, 2017. In the white paper, the company revealed a ERC-20 Ethereum-based token called POWR, which would be implemented into the Power Ledger platform, and Sparkz, an exchangeable energy trading token. The company maintained that demand for POWR tokens would increase as the platform user-base grows, thereby changing the price of the token and allowing for the exchange of POWR tokens for Sparkz tokens.

Partnerships[edit | edit source]

Power Ledger announced its first international partnership with New Zealand energy company Vector on August 31, 2016 for an energy trading trial in Auckland planned for December 2016.

The company announced in a press release on September 12, 2017, that it will be partnering with Nest Energy, a Tasmanian renewable energy company, to introduce renewable energy trading to the City of Launceston. Six days later, on September 18, 2017, the company announced that it will be partnering with Project Brainstorm, an Australian renewable energy business, to bring energy trading to residents of Queensland.

On September 29, 2017, the company announced that it will be partnering with Tech Mahindra to begin Microgrid-as-a-Service trials in urban regions of India.

According to a press release on October 3, 2017, the company announced that it would seek advise from ICO advisory company DigitalX Ltd. for its initial coin offering.

A partnership with The Liechtenstein Institute for Strategic Development, the company's first introduction to Europe, was announced on November 10, 2017.

On March 28, 2018 Power Ledger and Greenwood Solutions partnered for the first commercial deployment of the Power Ledger Platform in Melbourne, Australia.

Additional partners[edit | edit source]

  • National Lifestyle Villages (August 11, 2016) - a sale and rental company for village communities[2]
  • Origin Energy (September 21, 2017) - an Australian energy retailer
  • Bancor (October 9, 2017) - a smart token protocol
  • Curtin University, Murdoch University, Curtin Institute of Computation, LandCorp, CSIRO/Data61, Cisco (November 17, 2017) - funding partners for the City of Fremantle project

Funding[edit | edit source]

The company launched its pre-sale on August 27, 2017. In three days, over 100 million POWR tokens were sold, with 25% sold in the first hour. An extra 5% of tokens was awarded to every transaction that took place during the pre-sale. Power Ledger raised $17 million AUD during its pre-sale, which ended on September 3, 2017.

Public sale of POWR tokens officially began on October 6, 2017, during the company's initial coin offering (ICO). An additional 150 million POWR tokens were offered during the main sale. On October 6, 2017, the company had reported that it had raised over $34 million AUD ($24 million USD) overall during its ICO, including the amount raised during the pre-sale. A reported 15,000 supporters backed the token.[3]

On November 17, 2017, the company announced in a press release that the Australian government had awarded $2.57 million AUD in grants for a two-year research project to take place in the City of Fremantle. The project is expected to be Power Ledger's first examination of the potential of blockchain technology in integrating distributed energy and water systems. Seven additional project partners contributed a combined value of $5.68 million for the project for a total funding of $8 million. The project was the second largest recipient of the 2017 Smart Cities and Suburbs Program award, a $50 million grant from the Australian government supporting innovative smart city projects.[4]

Criticism[edit | edit source]

In December 2018, the company was criticized for paying spruikers.[5] Power Ledger issued statements in response to these criticisms written in the Australian Financial Review by addressing numerous "inaccuracies and misconceptions" contained within the article.[6]

References[edit | edit source]

  1. "Power Ledger White Paper" (PDF). powerledger.io.
  2. "National Lifestyle Villages Pty Ltd: Private Company Information". Bloomberg.com. Retrieved 2017-12-12.
  3. "$34 Million: Australian Blockchain Startup Power Ledger Completes ICO". CoinDesk. 2017-10-06. Retrieved 2017-12-07.
  4. "Smart Cities and Suburbs Program". cities.dpmc.gov.au. Retrieved 2017-12-12.
  5. "Blockchain start-up Power Ledger criticised for paying spruikers". The Australian Financial Review. Retrieved 2018-12-30.
  6. "Power Ledger responds to intense scrutiny". Micky. Retrieved 2019-01-17.

External links[edit | edit source]


This article "Power Ledger" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Power Ledger. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.



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