Power Ledger is a distributed, interoperable energy trading platform that supports an extensive suite of energy-focused applications. It features a live and deployed platform that possesses the ability for others to develop applications for use on it. Power Ledger aims to solve 2 major problems using Blockchain technology:
1. Declining utilization of electricity networks which could be maintained through a marketplace for distributed energy assets and associated transactions underpinned by the blockchain (e.g. peer to peer trading across networks)
2. Low penetration of renewables in apartment buildings, where a shared ownership and allocation model for microgrids could be provided by the blockchain (e.g. peer to peer trading in buildings)
In alignment with their vision, there are several applications that have been developed on the Power Ledger Platform that includes:
• P2P trading of Electricity within the Ecosystem
• Smart Demand & Supply Management for Retailers
• Microgrid/Embedded Network Operator
• Wholesale Market Settlement
• Autonomous Asset Management
• Electric Vehicle Management
• Power Port
• Carbon Trading
• Transmission Exchange
There’s a dual token system in place for Power Ledger, similar to that of Factom:
1. POWR Tokens: Serves as the fuel of the Ecosystem. In order to participate in the platform, you need POWR to generate Sparkz
2. Sparkz Token: Represents the value of a unit of energy and will be pegged to the domestic currency (i.e. Aussie Dollars). Sparkz is the currency that will be used for transactions within the Ecosystem.
What’s interesting about Power Ledger’s dual token system is their applications within 2 concurrent models:
This dual model approach is a great idea in concurrently focusing towards 2 main markets; the retail market and the direct P2P. This model affords high degrees of platform (and application) adaptability not only towards existing market structures but also a deregulated market setting.
I feel that this exudes practicality in implementing their vision but also pragmatism in preparing for the future; similar to hitting two birds with one stone.
The Board of Directors consists of experienced individuals in the field of renewable energy and Blockchain technologies, headed by Dr Jemma Green. She has considerable experience in investment banking and a research fellow at Curtin University Sustainability Policy (CUSP) Institute.
The Board also consists of John Bulich and Dr Gov Van Ek, who founded Ledger Assets, a Blockchain venture that has successfully created and commercialized technical and commercial blockchain systems and applications such as Uproov. The Power Ledger team has a vibrant mix of energy specialists, legal expertise and consist mostly of developers and software engineers. It looks like a good line-up for what they’re building.
There are several high-profile investors that backs the project, which is a good indicator of its viability and prospects. They include:
• Blockchain Capital: The pioneer VC fund focused on the Blockchain space
• Bill Tai: Venture capitalist that was the Founding Chairman and CEO of iAsiaWorks, and is a board member of Bitfury. He is also an advisor to the project
• Mike Novogratz: Billionaire investor and ex-hedge fund manager
Unlike most ICOs, Power Ledger already has “proofs of concept” in the form of successful pilot projects in Australia and New Zealand. With the support of some established energy retailers, they’ve deployed their first commercial project in 2017, becoming the first Australian company to “facilitate electricity trading across the meter and manage settlements without going through an electricity retailer.”. Here is a list of their traction:
Getting Started With Power Ledger
The Power Ledger system tracks the generation and consumption of all trading participants and settles energy trades on pre-determined terms and conditions in near real time. A user simply receives a registration email from their Application Host, they click on a link which takes them to the Power Ledger platform where they create a userid and password. That’s it, once logged in they can see their electricity usage and all their P2P trading transaction details.
As Power Ledger is a commercially operating entity, we already have platform applications built, which is explained in figure 5.3.1 in the white paper. The roadmap outlines the priority we plan to develop the applications in, with the aim for all to be deployed in two years. There will be no incubation time as we have multiple applications already built and operational. Therefore, customer engagement will be high from day one, as it is now. They are hoping that the sale will raise enough to support development for a global Power Ledger platform, to spread the tokens far and wide and allow as many potential future users to have access to the tokens from inception. Power Ledger is a movement, They want to give power back to the people and tokens will catalyze this movement.
There is always the possibility of releasing additional tokens from the Power Ledger reserve if They require future funding, which should provide token buyers comfort knowing the platform is sustainable and that it’s not just a once off all or nothing outcome to success. Their platform design leverages our experience and understanding of how the energy system is evolving and provides the greatest opportunity for energy system disruption without the destruction of incumbent value that is often the result of technology change and adoption.
Power Ledger is one of the early pioneers in this space. We officially launched in May 2016, after months of planning, and our management team has immense expertise in both blockchain and electricity markets. Our platform is already developed and usable applications are already running on the blockchain. Power Ledger has developed a series of world-leading blockchain energy applications, such as our P2P energy trading application that allows businesses, such as Utilities, to host trading on the Platform.
Blockchain technology provides a transparent, auditable and automated market trading and clearing mechanism for the benefit of producers and consumers. Our technology enables the sale of surplus renewable energy generated at residential and commercial developments (including multi-unit/multi-tenanted) connected to existing electricity distribution networks, or within micro-grids. Power Ledger puts the power to manage the energy economy into the hands of consumers, while maintaining the value of existing distribution networks.
Power Ledger allows for each unit of electricity to be tracked from the point of generation to the point of consumption within the building it is generated, or when sold to other consumers, using the local electricity distribution network. Blockchain technology couples a tracked energy transaction with a financial one, making the process of realizing the value of renewable energy investments simple and secure. Power Ledger allows renewable energy asset owners to decide who they want to sell their surplus energy to and at what price. Energy traded across the distribution network is tracked providing a secure revenue stream for DNSPs. Power Ledger is the brainchild of a team of respected energy industry professionals, sustainability leaders, disruptors, developers and innovators. It is a team with technical expertise, commercial acumen, regulatory knowledge and a relentless passion to revolutionise the energy sector for the benefit of consumers, producers and distributors.
How To Get A Power Ledger Wallet?
Power Ledger’s token, POWR will be created as an ERC20 token on the Ethereum blockchain and will be integrated into Power Ledger as the primary interface token. It is fundamentally a protocol token that will not only provide access to the Ethereumpowered platform for users to purchase electricity with it (or through their local utility) but also act as a reward or incentive to electricity producers and consumers who settle their production and consumption through the Power Ledger platform. There are 350 million tokens available in the Token Generation Event. The market will price the tokens. Depends on amount raised. ..”All 350,000,000 tokens will be issued following the close of the Token Sale regardless of the amount raised”. We are allowing the market to determine the price. There is no Minimum or Maximum $ raise. All tokens will be issued irrespective of the $ value raised. This allows everyone to receive an allocation, without the problems of previous token sales that were sold out in minutes.
Additionally, larger buyers known as ‘whales’ will be discouraged as there is no advantage to jumping the queue with large transaction fees and massive orders as the pricing and allocation they receive will be the same as all other token buyers. Based on previous token sales we have studied we believe this allows for the most equitable distribution and pricing. The rationale is to allow everyone who wants tokens to get them. To allow the actual platform participants (users) to benefit from the growth and success of Power Ledger. Additionally POWR tokens incentivize its owners to use and support the platform which creates a networking effect. All tokens will be distributed regardless of minimum raise, as Power Ledger is already equity funded and will continue its development regardless of funds raised in the TGE.
There is no cap on the amount of contributions that will be accepted by the Power Ledger Board. The Power Ledger Board have chosen to go with an uncapped ICO so that all investors will have an opportunity to participate. The fundraiser will have a fixed period of 4 weeks in which POWR tokens will be available for purchase. Following the example set by the Ethereum Foundation and many other high profile and successful token sales, there is no cap on the amount of contributions that will be accepted by the Power Ledger Board. The Board believes that an un-capped fundraiser will promote a widespread distribution of the tokens, a necessary prerequisite to launching a robust network. Though the amount of POWR is denominated in ETH, contributions may also be made in Bitcoin that will be converted at the prevailing rate on a best effort basis.
BTC, ETH, LTC. Your POWR allocation will be calculated using the USD price of the payment coin (ETH, BTC, LTC) you used at the time it is received by Power Ledger. The Tokens will be allocated according to the USD market value of the payment coin received (ETH, BTC or LTC) calculated at the time their payment was received by Power Ledger. The POWR tokens will be distributed to the buyer’s Ethereum public address supplied. The POWR tokens acquired will be issued at any time after the close of the TGE, but no later than 4 weeks after the Token Sale closes.
Token holders will have access to the Power Ledger platform. They can potentially use POWR tokens to purchase electricity when the Power Ledger platform becomes available in their area. Token holders can also participate in Asset Germination events by submitting POWR tokens. By keeping hold of POWR tokens you won’t have to buy them on an exchange later if you decide to use the platform. As we on-board more participants there will be a requirement for more POWR tokens either in circulation throughout the eco-system or escrowed in a SmartBond.
35% – POWR tokens available to investors during the TGE
25% – Growth Pool – will be used to incentivize users and encourage Application Hosts to come onto the platform – this is a big plus to existing holders of POWR tokens as they are also escrowed for up to 3 years after distribution (in addition to being used as security in the Smart Bond.)
15% – Developers Pool is escrowed.
25% – Power Ledger’s Reserve – Will be escrowed and only used to fund further development and operating costs if required. This de-risks the company. If Platforms distribute too much of their tokens too early and further down the road they run out of funds, the risks to the company and early token buyers can be significant. It’s prudent for management to hold a % tokens in reserve and is the model that is increasingly being adopted by other well received token sales.
You must have access to your private key. Check with your wallet or exchange. Do not supply an ETH address from wallet and exchange providers like Coinbase or from multisig wallets. Please use a wallet that supports ERC20 Ethereum tokens, such as MyEtherWallet, Mist, or imToken. Throughout the TGE we never deal with a user’s private keys.
The sale hasn’t happened yet, so they will be tradable on a recognized exchange or ERC20 token exchanger after the sale and at some point in the future after that. Please join our Telegram group for updates
Power Ledger Resources
How To Buy Power Ledger?
GUIDE FOR BUYING POWR TOKENS
STEP 1: AGREE TO THE TERMS AND CONDITIONS
Read and agree to the entire Terms and Conditions, before you can participate in the TGE.
STEP 2: ENTER YOUR PUBLIC ETHEREUM AND EMAIL ADDRESS
Provide an Ethereum Address using a wallet that is ERC20 compliant, to receive your ERC20 POWR tokens. This can be a different wallet than the one you send payment from.
DO NOT USE AN EXCHANGE WALLET, such as Coinbase as you will not be able to receive your POWR tokens.
You must have access to the private keys of your Ethereum Address.
You must also provide an Email Address to be used to communicate important notices to you, such as to inform you of the next important steps in the TGE.
When you’re transferring the wallet addresses, use the cut and paste function to make sure you transcribe the addresses perfectly.
STEP 3: SELECT THE COIN YOU WANT TO BUY POWR WITH
You will be given the following currency options for your preferred method of payment: Ethereum, Bitcoin or Litecoin
STEP 4: CONFIRMATION OF THE INFORMATION PROVIDED
It is your responsibility to check carefully and confirm that the information you provided is correct for your Ethereum Address, Email Address and the Selected Coin for payment.
This is very important as typo errors are remarkably common.
If you have specified an incorrect address and this results in the loss of your POWR Tokens we will not issue any refunds.
STEP 5: SEND THE DESIRED AMOUNT TO THE PAYMENT ADDRESS
You will receive a unique Payment Address displayed on screen. You need to send your desired amount to the payment address shown.
Go to your wallet or exchange and send the desired amount to the unique address we generate for you.
If you are sending funds from an exchange expect delays in the confirmation of the transaction.
AFTER BUYING TOKENS
If you do not receive an email, don’t panic! We have made an online tool to allow you to self-check your tokens. If your tokens show here, your transaction is confirmed. The tool shows all information included in the email. Main Sale buyers can check here: MAINSALE-POWERLEDGER Pre-sale buyers can check here: PRESALE-POWERLEDGER
PURCHASING MORE TOKENS
If you desire to purchase more tokens you are able to, but be sure to go through the website steps again. If you send another transaction to your unique address you will not receive confirmation and will have to wait until we can add it to the system manually. In this scenario, the website tool will not show the second transaction.
RECEIVE YOUR TOKENS
Tokens will be distributed up to 4 weeks after the Main Sale ends. We will send you an email notification when they have been distributed. If you have any issues relating to your purchase, please email email@example.com