Power Ledger (POWR) is a cryptocurrency that only launched a few months ago. It’s actually the first native token from Australia to hold an ICO, and it racked up USD $27 million during that first token sale. Since then, the Power Ledger coin has ridden the volatile waves of the crypto market, gradually falling in value like most other coins have since mid-January. But today this coin is surging, and having one of the best days on the market according to CoinMarketCap.
What is it about this young coin that is getting investors so excited?
The Power Ledger coin is a smart project
Most coins have a niche, like the Internet of Things (IoT) or virtual/augmented reality. This coin is all about power, if you haven’t guessed yet. Renewable energy is getting cheaper to produce year by year, and individuals and households have more access to their own solar power systems than they ever had before. Can you imagine a world where we don’t rely on big utilities companies to provide us with our energy, and we just rely on a more transparent and fair blockchain-based platform?
Power Ledger is developing that platform. Here’s how the Australian organization describes its P2P energy trading endeavor:
This class of Platform Application gives retailers the ability to empower consumers (or in an unregulated environment, the consumers themselves) to simply trade electricity with one another and receive payment in real-time from an automated and trustless reconciliation and settlement system. There are many other immediate benefits such as being able to select a clean energy source, trade with neighbors, receive more money for excess power, benefit from transparency of all your trades on a blockchain and very low-cost settlement costs all leading to lower power bills and improved returns for investments in distributed renewables.
Power Ledger (POWR) also enables investments in energy projects
With this platform, large-scale renewable energy projects can be opened up for public investment. Using POWR coins, users can purchase their share of a big project – and also get paid as that project generates a profit.
It’s called asset germination, and it is defined in the POWR whitepaper as “the sale or crowdfunding of an autonomous renewable energy asset which allocates ownership and distribution of income.”
Asset germination will be deployed for the first time in Q3 2018.
This blockchain project is also inking a lot of new deals
The team behind POWR is definitely working hard. It seems like every day they are getting closer to achieving their development goals, as they are racking up new deals and boosting their reach across the renewables market.
Like this one, just yesterday:
Power Ledger and U.S. based clean energy not-for-profit Helpanswers have today announced an agreement to bring peer-to-peer renewable energy trading to North Americahttps://t.co/R6sQ01xUUZ
— Power Ledger (@PowerLedger_io) February 6, 2018
There’s this one too, also just within the past week:
We're partnering with @bemasterly to deliver an online #blockchain course designed to provide you with a fundamental understanding of blockchain directly from leaders in the industry. Learn more here: https://t.co/rqAXezzyKz pic.twitter.com/PFCPFZ8rPp
— Power Ledger (@PowerLedger_io) February 2, 2018
Power Ledger (POWR) is making moves, and they look like they are on track with their road map. It will be interesting to see how these projects work out individually as the platform becomes more useful – and also to see where this coin’s price goes.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.