Powerledger: Green Cryptocurrencies for the environment
The purpose of PowerLedger is to help people transact energy, trade environmental commodities and invest in renewables, developing software for its clients and partners that allows consumers and producers to track, trace and trade every kilowatt of energy. It has developed a blockchain-based platform that enables the tracking and trading of energy, flexibility services and environmental commodities. Its goal is to provide the platform for a fully modernized, market-driven grid that offers consumers a choice in their energy while driving the democratization of power. Powerledger has over 30 clients across 12 countries and its technology has received global recognition, including Sir Richard Branson’s international Extreme Tech Challenge in 2018. Powerledger migrated its own blockchain platform, the Powerledger Energy Blockchain, from Ethereum to a Solana-based blockchain, which is much faster and able to support higher transaction throughput. Now the Powerledger Energy Blockchain is a customised permissioned Solana blockchain, that utilises Proof-of-History and Proof-of-Stake (PoS) consensus mechanisms.
Solana’s PoS design means that Validators need to be invited by Powerledger and only those accepted by Powerledger can participate, also considering the provenance of energy used by each Validator, including the renewable energy sources. Powerledger uses two tokens, the Powerledger (POWR) and Sparkz tokens. The POWR token will serve as the fuel of the Power Ledger Ecosystem. POWR tokens help to facilitate low cost and better returns on electricity. The existing POWR (ERC-20) token will remain on Ethereum mainnet, with both the stake and the rewards, convertible and payable in existing POWR tokens. To synchronize the Ecosystem globally and create cross-market electricity compatibility, a second token, Sparkz, is used for Ecosystem transactions. Sparkz tokens are priced, issued, and redeemed in the local currency of the Platform Participant. Purchasing a sufficient amount of POWR tokens allows Application Hosts access to the Ecosystem from where they can convert their POWR tokens to Sparkz and on-board their customer base. To read the Whitepaper, click here.
Powerledger was founded in 2016 and is headquartered in Perth, Western Australia. The leading personality of the company is the co-founder & Executive Chairman Jemma Green, dedicated to creating a viable market for renewable energy that empowers consumers.
She holds a Masters in Sustainability Leadership from the prestigious Cambridge University. Setting her career trajectory early on, Dr Green became the voice of sustainability and corporate social responsibility in the business of big money financing while at J.P. Morgan in London. She then went on to become a research fellow at Curtin University, was Deputy Lord Mayor of Perth, set up Australia’s first fossil fuel free pension fund and has sat on numerous boards championing sustainable business. In 2018 Dr. Green won Sir Richard Branson’s Extreme Tech Challenge award followed by the EY Fintech Entrepreneur of the Year award. She is also fellow of Blockchain Australia.
Powerledger has proudly received numerous awards from respected organizations and the most recent ones are:
- Renewable Energy Markets Asia — 2022
- the World Summit Awards 2021 for its contribution to the United Nations Sustainable Development Goals Agenda, winning the diamond trophy for its peer to peer project in Uttar Pradesh, India
- Alperia Startup Factory Winner 2019 for its innovative energy trading platform
- World Green Economy Summit 2019, an initiative by the Dubai Electricity & Water Authority.
Powerledger has partnered with Thai energy group TDED, developing peer-to-peer energy trading and environmental commodity trading solutions across the nation. With Powerledger’s help, TDED designed a series of sandbox experiments called ‘smart cities’. The success of the trial has resulted in the project expanding solar generation even further. “Our project is about exploring what’s possible. It’s a microcosm of how the city will operate with clean distributed energy” President of BCPG and Chairman of the Board of TDED Bundit Sapianchai said.
Powerledger has a position on Coinmarketcap oscillating between the one hundred and fiftieth and the two hundredth place of the most capitalized coins.
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