2018 has been tough for the majority of cryptocurrency platforms and projects that saw their market value plummet. Some of them are gone by now; others are looking at the situation pessimistically. However, there are those that kept developing their projects, trying to ignore the bearish waves that came one after another.
Mostly, top projects like Ethereum survived while some — such as Tron and Stellar — even grew. Among those that just keep improving and building their brainchildren is Power Ledger startup and several others also working in the energy industry.
Need for decentralized electricity
Experts have estimated that the untapped market of blockchain-based electricity producers opens wide opportunities for those who decide to go for them. Reports have it that between $116 bln and $125 bln are spent on power in developing countries.
Power Ledger has been working and improving its products, such as carbon credits, certificate trading, and the virtual power plant. A company rep mentions in their corporate blog that power Ledger is also rolling out its P2P platforms dubbed μGrid and xGrid. Recently, the company has released a roadmap, detailing its plans for further development.
Power Ledger is based in Australia, where the climate is suitable for producing electricity through the use of solar panels. It is promoting its P2P trading platforms, where their coin POWR is used. These platforms allow users to set their own prices for electricity and sell it with the company’s coin. The startup plans to expand its services around Australia as well as to Japan, Silicon Valley, and Thailand.
The expansion is scheduled for next year. In early 2019, the roll out will start across Australia. Then, in the first quarter, the startup wants to present their solutions in China, Thailand, Japan, and Korea. The necessary trials that were launched this year will be completed in 2019.
Power Ledger’s rivals
In reality, Power Ledger is not the only startup successfully existing and working in this field. Earlier, U.Today wrote about some of them: Grid7 has been sponsored by the US government.
Another company, WePower, has recently rolled out in Estonia. KWHCoin — John McAfee’s favourite horse. In addition, as U.Today recently wrote, IBM is also working with carbon credits, having launched a crypto pegged to them on the Stellar platform.