Skip to 0 minutes and 14 secondsRather than being a stand-alone peer-to-peer blockchain application, Power Ledger has created a Platform to host many different applications, such as Electric Vehicle settlement and Carbon Credit Trading, and where other companies can also allocate their own applications. The potential, once again, is unlimited. The platform will serve as a bridge between its users and different energy markets around the globe, allowing the users to benefit from an extended list of functionalities. Because of Power Ledger’s objectives, the Ecosystem is adaptable and scalable for applications within the existing or the soon-to-come regulatory environment, achieving the required dynamism for a platform of such characteristics. Within the platform there will be a differentiation between two kinds of users.
Skip to 0 minutes and 59 secondsApplication Hosts entities and businesses that run an Application on the Platform. Customers that become users of one or many applications hosted in the platform. Third parties are completely free to develop energy applications and run them in the Power Ledger platform, thus becoming Application Hosts. The possibilities are endless. Even a DAO could become an Application Host. But how does it work? Energy can’t be traded through the internet, how is it possible to enable energy trading and at the same time keep track of all the payments without having a central authority overseeing everything?
Skip to 1 minute and 33 secondsThe answer comes by the hand of both blockchain, and Power Ledger’s platform inner currency tokens: POWR and Sparkz. POWR are the blockchain tokens that both Application Hosts and Participants must acquire to gain access to the Platform and its P2P trading features. Since the platform will run a vast number of applications, it is fair to say that POWR will accomplish a virtually endless list of purposes. POWR is designed to be a global token, with its value transcending the country or regulatory framework of the user. However, to synchronize the Ecosystem globally, it is necessary to use a second token, capable of adapting its value to different local currencies and markets. That is Sparkz.
Skip to 2 minutes and 17 secondsSparkz tokens are used for application transactions, and are priced differently according to the local currency, adopting the lowest denomination of currency in each trading jurisdiction. In Australia, 1 Spark equals 1 Australian cent. That means that the same amount of Sparkz may have different value in different countries. Now let’s move on and talk about the different functionalities that will be enabled by the Power Ledger’s platform.
Skip to 2 minutes and 44 secondsLet’s start with the main dish: P2P energy trading. This Platform Application gives Application Hosts the ability to empower consumers, or in an unregulated environment, the consumers themselves, to trade electricity with one another and receive payments in real-time from an automated and trustless system. There are many other immediate benefits, such as being able to select a clean energy source to receive all your energy from; trading energy with your neighbors; benefiting from transparency on all your trades on a blockchain and from very low-cost settlements; all leading to lower power bills and improved returns for investments in distributed renewables. Another platform application attains Electric Vehicles facilitating real time metering data, collection of data, user identification and rapid transaction settlement.
Skip to 3 minutes and 35 secondsWe have the Neo-retailer, an application that provides energy retailers with smart demand and supply management, along with almost instantaneous remuneration and payment settlements while managing consumer exposure to the risk of non-supply. And we also have Autonomous asset management, that will allow users to invest for shared ownership of renewable energy assets and trading renewable asset ownership, such as PV panels and batteries. These devices, that receive the name of Autonomous assets, are able to buy and sell their own electricity and distribute their income between all the owners. These are just some of the applications that will be present in the platform.
Skip to 4 minutes and 12 secondsThe potential is endless, and there’s a lot of excitement imagining the new applications third parties will develop and share in Power Ledger’s platform. On the other hand, sustainability is one of the core value propositions of Power Ledger’s platform and thus using a proof-of-work algorithm was unacceptable in the long term. Thus, Power Ledger developed EcoChain a private Proof-of-Stake blockchain meant to operate in the energy industry. This way, all the energy wasted in solving computational problems in PoW is saved, and we are one step closer to achieving sustainable public blockchains.
Skip to 4 minutes and 47 secondsWhen Power Ledger was officially formed in May 2016, they stated their willingness to address three major challenges
Skip to 4 minutes and 54 secondsthat the energy sector is facing globally: First, finding a way to put together high-density housing and DERs. Second, providing users with an incentive for the connection of DERs. And third, leveraging the value of the billions of dollars invested in the current network assets. Let’s have a look at how they do it.
Power Ledger's platform
Discover Power Ledger’s platform - a non-fiduciary trading platform, and the dual token ecosystem concept.
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A lesson from Oriol Pujoldevall, Blockchain specialist & lead educator
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