Power Ledger is a blockchain startup working with Northwestern University trying to make the world’s first commercial deployment in the US. The company is based in Perth, Australia and is a P2P blockchain platform trying to make the trading of renewable energy possible. They launched Australia’s first ICO last year with more than $34 million.
NU will use Power Ledger to connect four of its buildings on campus to trade surplus power amongst each other that’s been generated by solar panels. They’ll earn a small percentage fee on every trade. This includes the infamous Ford Building. Their blockchain tech allows electricity trades to occur in real time using an automatic system.
The university then plans to link up more buildings to create zero-carbon electricity. Power Ledger will be used on campus and between campuses without any hardware, software, or subscription fees just by using existing mediums.
Power Ledger’s partner, Clean Energy Blockchain Network, will provide technical assistance for the system.
This system is expected to take place in the coming months. Dr. Mike Ashley leads the technical assistance team states:
“Power Ledger has the ability to encourage more clean energy assets with faster paybacks via kWh trading and achieving carbon reduction targets.”
Analytical. Paranoid. OCD. Interested in the world of crypto and how it affects our current world and future. New to investing, not so new to know how crypto works and influence the world of fiat currency. Blockchain is my second wife.
Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.