What Is Power Ledger (POWR Coin)?
POWR Coin Price
Power Ledger (POWR) is a solar energy company based on tokenized peer-to-peer blockchain technology that operates out of Australia.
Power ledger launched in 2017 after a pre-sale and aimed to help people sell and buy their energy efficiently, as well as help create real-time metering in the new digital age.
THE HISTORY OF POWER LEDGER CRYPTOCURRENCY
Power Ledger began product development in 2017 and launched a token pre-sale in Q3.
Since then, they have been building their product and even joined the Blockchain Summit with Richard Branson.
Later in 2017, they were joined by Venture Capitalist Bill Tai.
THE PURPOSE OF POWER LEDGER (POWR)
POWR was developed to solve some major issues and provide six different benefits such as:
- Improve economics for solar power and battery storage
- Help stop the split-incentive problems with multi-tenanted properties.
- Increase the utilization of resources, helping to cut down on waste
- Grant easier access to a low cost & renewable energy
- Decrease waste from electricity transmission
- Provide a platform for community-owned generation of storage
By achieving all of these goals, this company can help improve the state of electricity and prevent waste that happens with current energy companies.
THE BENEFITS OF POWER LEDGER (POWR)
Power Ledger operates with a unique paradigm that will most definitely disrupt the solar energy industry. Thus, improving our ability to both generate and use energy more efficiently with a peer-to-peer distributed model.
Now, let’s dive a little deeper and explain what this peer-to-peer distribution model means...
Peer-To-Peer Energy Trading:
This energy system can help empower users to take energy into their own hands. Which will allow for anyone to simply trade electricity with one another and receive payment in real-time through an automated system?
Utilizing this P2P model helps people choose a clean energy source, trade with neighbors and those you know, receive more money for excess power, and benefit from the transparency of a blockchain ledger system.
A Microgrid/Embedded Network Operator/Strata:
A microgrid is, “a small network of electricity users with a local source of supply that is usually attached to a centralized national grid but can function independently.”
While an embedded network allows anyone who joins the network to be part of and immediately sell/trade energy.
Together, both can help with electricity metering, big data acquisition, microtransactions and grid management at a granular scale.
By having this structure, this creates the possibility to trade within the embedded network, helping to allow the system to operate even if the investor is absent or doesn’t consume all the energy that they generate.
Lastly. This granularity even opens up the possibility of renting/owning things like charging stations across a city powered by solar energy.
Distributed Market Management:
Distributed market management allows the data being collected to be truly optimized and help ensure that the assets produced are used in the best way possible.
In other words, it provides optimized metering data, the collection of big data, the right to access and dispatch of assets…
As well as, rapid transaction settlements, network load balancing, frequency management, demand-side response and demand side & load management.
Electric Vehicles, Power Ports & Metering Management:
The connection via this embedded network operator leaves the ability for all of this data to be used more efficiently and subsequently, help improve overall management of energy.
What it also does is allow for real-time metering data, allowing someone to say charge car rental based on the real-time use of the car instead of a 2-4 day rental and so/on and so forth. This also will provide user identification so that power isn’t siphoned.
This can also help to create virtual pipeline and roadside assistance that can be automated. While also providing a mobile storage discharge facility to maintain energy supplies to self-sufficient energy consumers.
Exchange of Transmission & Carbon Trading:
This platform application class can allow the exchange of data instantaneously with real-time metering data and even network load balancing.
By using the blockchain, this will report and store all data, without the ability to manipulate or misuse any of the data and energy, making it blatantly obvious to the creation and operation of it.
WHAT WE AT GCA THINK OF POWR TOKEN
Being a proponent of change and the technological revolution, we love the concept of anything that helps improve the internet of things, and Power Ledger is certainly making moves in that direction.
Currently, we all hold POWR and see it performing well in the future as it is built out in the process.
Power Ledger has a lot of opportunities, especially when it is used, and being one of the biggest markets in the world, energy, (even with competition) it can thrive and flourish.
We see Power Ledger doing some amazing things shortly, making it a wise investment.
If you liked this review and want to help support the academy donate some POWR below!
MORE FROM THE CRYPTOCURRENCY INDEX
What is Steemit (Steem)? A Digital Currency and Publishing Platform STEEM Coin Price STEEM Dollars Price What Is Steemit? A Quick Summary Steemit is a blockchain based platform that allows publishers to be rewarded for their content in a decentralized model. Essentially, it is a blockchain based Cryptocurrency paying medium. Publishers can be…
What Is EOS Cryptocurrency? EOS Coin Price EOS token is aimed at being the most powerful infrastructure for decentralized applications. While Ethereum is hailed as the top application based protocol for creating decentralized applications, processing transactions, and forming DAOS on the network – EOS is aimed at becoming a quicker more efficient version of it.…
What is Digibyte (DGB Coin)? DGB Coin Price What is Digibyte? A Quick Overview Digibyte is a secure, highly decentralized and fast blockchain cryptocurrency with a big community of holders. DGB coin has been around for over four years and was created as a way to bring cryptocurrency to the public with quicker transaction times…