Power Ledger (POWR) enables users to buy and sell renewable energy and environmental commodities on a peer-to-peer (P2P) platform, powered blockchain technology. With the world already transitioning towards greener, sustainable energy sources, the Power Ledger platform allows humans and devices to trade the power they need, when they need it.
Power Ledger aims to democratise the 21st century energy market, by allowing households to choose the energy they wish to consume. Its energy trading platform was launched on an Ethereum-based blockchain. All POWR tokens are ERC-20 compatible and are required to access the Power Ledger platform. Sparkz tokens are then issued against POWR tokens. These are the electricity credits that consumers can use to trade energy and can also be redeemed for fiat currencies like GBP and USD.
In April 2020, Power Ledger secured a deal to move into the French green energy market by partnering with ekWateur. The agreement enabled a “world-first” in energy trading, with households given choice and control over the quality and cost of their energy sources.