Last updated on July 21st, 2023 at 08:59 pm
What is Powerledger?
Powerledger, an Australian-based cryptocurrency startup is a software and technology company that is working towards making renewable energy work in a more stable way, by having more responsive markets.
Founded in 2016, by Dr. Jemma Green and technologist John Bulich, the Powerledger platform provides applications that include peer-to-peer energy trading, smart demand and supply management, wholesale market settlement, electric vehicles (EV), and carbon trading. All of these made possible using a distributed blockchain ledger with smart contracts.
Recent News
Vietnam Partnership
On March 28, 2023, Powerledger announced a partnership with Vietnam Electricity Central Power Corporation (EVNCPC) to launch a six-month peer-to-peer (P2P) energy trading project. EVNCPC, being a state-owned corporation, provides the majority of power across the country, powering residential, commercial, and industrial customers. In 2020, it produced 57.5% of Vietnam’s electricity supply.
This partnership comes at a time when the price of fossil fuels and the global market has had a severe impact on small countries like Vietnam’s electricity prices. Having to heavily rely on imported coal, Vietnam’s electricity prices have skyrocketed since the COVID19 pandemic.
Renewable Energy Sector
In 2021, global renewable energy generation rose by almost 7%, with wind and solar PV accounting for almost 90% of this growth. 1 In recent years the European Union (EU) has accelerated its fossil phase outs with many countries targeting a high renewable energy supply by 2030. 2
Recognition and Awards
Powerledger has won numerous awards globally and has been recognised as a promising disruptive technology that will help shape the future of the energy industry. Its most notable recognition and awards include:
- 2017 Talent Unleashed Awards Best Startup Finalist – Social or Community
- 2018 Extreme Tech Challenge Winner – judged by Sir Richard Branson
- 2020 Alperia Startup Factory Innovation Camp Winner
- 2022 World Summit Awards Global Champion – Environment and Green Energy
The POWR Token
Powerledger completed its ICO on October 6, 2017, where it raised more than $34 million AUD by selling the POWR ERC20 token. Since then the company has been busy focusing on partnerships globally and shaking up the energy industry, which is traditionally very slow-moving. Since the 2017 launch, the POWR token has seen many highs and lows in price, which comes with any speculative market. The token has slowly been gaining use cases and adoption by exchanges.
On June 8, 2022, Powerledger launched its own staking mechanism. The APY return is always changing, however, some users are reporting in the Telegram group a current return of over 40% APY in April 2023. A tutorial on how to stake is shown below.
The POWR token currently:
Current POWR Price:
$0.19
Price Change (24h):
-6.03%
Frequently Asked Questions (FAQ)
How does Powerledger make money?
Powerledger charges a small fee on all P2P transactions on its platform. It has also raised crowd-funded support and has received a financial grant from the Australian Government in the past.
Is Powerledger a good buy?
With an increasing global focus on moving primarily to a renewable energy-powered planet, the future of Powerledger is bright and I believe it is a good mid to long-term investment (not financial advice). Many countries have yearly milestones and carbon emission targets to reach, Powerledger is one company helping to achieve this.
You can trade POWR on the following large exchanges:
What is the all-time high for Powerledger coin?
Powerledger (POWR) hit its all-time high price of $1.89 USD on January 7, 2018. The current price of POWR is $0.19.
