Power Ledger’s Power Projects Set To Use Blockchain To Power The World

The world is exceedingly dependent on energy to function. This is estimated to only get worse as the worlds oil reserves dwindle and the shortfall is hardly met by renewable resources. Power Ledger hopes to keep these scenarios theoretical. The company's mission is to deliver affordable peer to peer electricity to people. Thus far, this year the company is making giant strides in terms of international recognition.

The company is set on the path of international acclaim after recently edging out touch competition to win a prestigious tech award. Following that they have also disclosed plans for a new regulated security token.

Power Ledger named a winner in Extreme Tech Challenge on Necker Island The Australian company had the spotlight shine on it after winning Sir Richard Branson’s Extreme Tech Challenge on Necker Island. Power Ledger’s co-founder and chair, Dr Jemma Green discussed the road to success and their formula for it. She quickly noted,

“success is where hard work and opportunity meet.” The importance of the win is not lost on her and she feels the “extreme honour” comes with a great responsibility. She reminisced “Branson standing up and announcing he and the other judges chose Power Ledger is an accolade and also a responsibility. He will be working with us now and we feel more inspired than ever to deliver on our mission.”

Blockchain and climate change are two topics that are known to be close to Richard Branson and Power Ledger represented both perfectly. Thus the opportunities afforded by this win are unrivalled. “It has already had a discernible impact in terms of clients that we were speaking to previously that were curious about us but not moving quickly. They are coming back to us, saying ‘let’s do a project,'” said Dr Green, adding:

“Branson offered to introduce us to some companies and organizations doing work in the Caribbean including energy networks there. We’re following up on that now.”

Before that, the company had to prove their mettle, pitching to a panel of judges at the Consumer Electronic Conference. This led to the finals which saw Power Ledger competing before Sir Richard Branson, the British business magnate, Koichi Narasaki Sompos Chief Digital Officer and Valery Vavilov CEO of Bitfury. The competition was Revl, an AI-enabled smart action camera startup, and Owlet, a health platform. A year-long struggle finally resulted in this win where Dr Green was presented with a copy of Mr Branson's book in which aptly wrote:

“Dear Jemma, Congratulations! May you power the world.”

The Doctor in solar power says:

“Our core mission is the democratization of power. People are impassioned about what we are doing and want to participate. We see ourselves as a movement and our technology can enable low-cost and low-carbon distributed energy markets.”

At the moment the company is focused on a number of key projects across three main categories namely energy asset financing, energy trading and carbon markets. These include various national and international projects. Some of them include A project in conjunction with the Thai government, involving peer to peer trading. And a project of a similar shade in Australia called the smart city project that goes live this month, which will afford an opportunity for scale and commercialization. There is a project in Osaka, to support the creation of a virtual power plant, with private collaboration. Working with carbon regulators and the Silicon Valley for an American project to use blockchain as a registry and as a secondary market for carbon credits.

Power Ledgers offering is the POWR token, which has raised an astounding $62.7 million in market capitalization. And now the company has launched a new token, Asset Germination Events (AGE) with the aim of using “blockchain and cryptocurrency projects to provide new sources of capital for funding energy projects.”

The new cryptocurrency is set to afford investors a unique opportunity whereby they will be part owners of the power assets and earn dividends generated by the projects. Dr Green, a former investment banker noted:

“If digital currencies and the blockchain are to offer alternatives to existing financial markets, they need to replicate their product and services. So a natural evolution should take place and I think traditional financial exchanges, as well as crypto exchanges, are going to gear up to trade tokens.”

With more awards and accolades the immediate effect is renewed interest, this has been well harnessed by the team. The real skill will involve delivering on these promises and leading the industry in both the renewable energy and crypto sphere.

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