SUMMARY
- Website: https://powerledger.io/#intro
- Whitepaper: https://powerledger.io/media/Power-Ledger-Whitepaper-v3.pdf
- No Hard-cap, 350,000,000 POWR (Contributors own 35%) distributed on sale.
- Based on the amount raised the estimated ICO price in (USD) for the tokens are as follows:
- Presale: 105,000,000 POWR sold for ~$0.084.
- Main Sale: 140,000,000 POWR - Week #1 (25% bonus) ~ $0.082, Week #2(15% bonus)~ $0.089, Week #3 (at 5% bonus)** ~ $0.097**, Week #4 (no bonus) ~ $0.994.
- Remaining tokens were sold to private strategic partners.
More details can be found on the token sale whitepaper here.
OVERVIEW
Power Ledger Platform aims to create an Ecosystem that will enable interoperability between the diverse electricity marketplace and redefine where**Application Hosts, **such as utility companies, retailers, property managers, etc and customers (users/consumers) are positioned in the Ecosystem.
The power ledger platform is designed for Application Hosts to develop applications on the platform that are highly adaptable within any existing or future regulatory environment.
"The booming market in Distributed Energy Resources (DER) like solar photovoltaic systems (PV), batteries, microgrids and embedded networks has moved the power balance from central authorities, to where citizens have control. This is because of the increase in peoples' desires that their energy supplies are more sustainable, more socially-responsible, more local, more resilient and more democratic. All that is needed to move the revolution into the mainstream is a model for energy trading that takes control out of the hands of central players and puts everyday citizens in charge of a co-created energy future." - Power Ledger whitepaper page 5.
Power Ledger Platform applications:
- P2P TRADING- Retailers will have the ability to empower consumers to simply trade electricity with each other and receive payments in real time.
- NEO-RETAILER PLATFORM - For retailers who supports P2P trading through effective aggregation of consumer preference and demand.
- MICROGRID/EMBEDDED NETWORK OPERATOR/STRATA - Enables easy and detailed electricity metering, big data acquisition, rapid micro-transactions, and grid management.
- WHOLESALE MARKET SETTLEMENT
- AUTONOMOUS ASSET (AA) MANAGMENT - Allows for shared ownership of renewable
- energy assets and trading renewable asset ownership.
- DISTRIBUTED MARKET MANAGEMENT
- ELECTRIC VEHICLES - facilitates real time metering data, collection of data,
- user identification and rapid transaction settlement.
- POWER PORT - Virtual pipeline and roadside assistance type assets may be automated via the platform.
- CARBON TRADING-Smart contracts for carbon traders, credibility of asset, transparency and audibility. Also supports reporting of carbon credits/certificates to regulatory authorities.
- TRANSMISSION EXCHANGE
Read more of the details in their whitepaper (page 15).
TOKEN UTILITY
The platform is facilitated by a dual token ecosystem (POWR and SPARKZ).
The POWR token will serve as the fuel of the Power Ledger Ecosystem. They
interact with the Ecosystem through:
- Providing governance and consumer protection through Smart Bond.
- Facilitating access to use the Platform.
- Providing loyalty rewards to Participants organizations.
- Contributing and connecting with renewableenergy charities and providing access priority to Asset Germination Events and benefits from an asset's 'POWR' generation.
SPARKZ tokens are issued against escrowed POWR tokens, via a Smart Bond, and used by the Application Hosts **(utility companies, retailers, property managers, etc.) **to onboard its customers. SPARKZ are currently purchased and redeemed using fiat currencies with individual trading platforms hosting closed-loop exchanges for energy and SPARKZ.
Below is a brief outline of the architecture extracted from the whitepaper:
The whitepaper goes into deep detail on the above and we strongly suggest to read the full details for a better understanding (Page 24).
To really simplify things, POWR tokens are necessary to use the network and the more "application hosts" uses the network, the more valuable the POWR tokens will be. SPARKZ is a token used to purchase the services provided by the application hosts.
ARCHITECTURE
- Ethereum Blockchain Public Layer: Provides a mechanism for interfacing and transacting with the consortium and application layers.
- Moving to a Proof of Stake (POS) consensus mechanism in the future.
- Power Ledger Core: Public smart contract layer which provides the key components of the token ecosystem.
- Ecochain Services: Power ledger's industry specific consortium blockchain.
- State Channels: Provides a way to execute blockchain transactions in an off-chain manner.
- Fusebox -The ecosystem's Application Layer which facilitates easy adaption for both regulated and deregulated markets.
The whitepaper goes into deeper detail on the above and we strongly suggest to read the full details for a better understanding. (Page 28).
FUNDAMENTALS
Power ledger has been in development since 2016 and is beyond a "whitepaper idea" where a proof of concept has already been developed through successful pilot projects throughout Australia and New Zealand. (Whitepaper page 12).
Well connected and important partnerships with various utility and technology companies including:
- Vector ltd, national number one provider of electricity distribution, number one provider of electricity and gas metering and number two wholesaler of LPG in Auckalnd, New Zealand.
- Western Power, owned by the State Government of Western Australia and responsible for building, maintaining and operating the electricity network.
- Nest Energy, Commercial and industrial solar installations.
Power ledger has a wide range of team members with necessary expertise ranging from software developers, engineers, legal expertise and analysts.The board of directors also consists of seasoned individuals who are highly qualified and well rooted in the renewable energy and blockchain field.
VERDICT
Power ledger is a very ambitious project and disruptive to the whole energy ecosystem. There will be a lot of obstacles because of the nature of the project, as with most disruptive innovations. However, we believe that the team, partnerships and proof of concept are capable to propel them towards adoption in Australia and New Zealand. Overall, we love the idea and the vision of Power Ledger.