This article was first published on Power Ledger - Medium
As 2018 hurtles towards a conclusion and 2019 crouches ready to explode from the blocks, we look back at the year that was for Power Ledger.
2018 was always going to a watershed year for Power Ledger.
With Australia’s first and at the time, most successful Initial Coin Offering (ICO) under our belt, funding assured for years to come and the crypto market surging and diving, 2018 presented the opportunity and the challenge to start driving the change we outlined in our whitepaper.
We believe empowering individuals and communities to co-create their energy future will underpin the development of a power system that is resilient, low-cost, zero-carbon and owned by the people of the world… (Power Ledger White Paper 2017.)
The philosophy that drives Power Ledger hasn’t changed since we first conceived the business in 2016.
We could see the energy system was undergoing an enormous technological transformation.
Distributed renewables, owned by consumers, were challenging the rules of the game; the old, centralized view of the power system and the governance structures that had steered system development and operation for decades just didn’t make sense anymore but, for all the talk, we couldn’t see anyone taking any steps to change the rules.
The Power Ledger platform was a proposition for a new rule set — we didn’t want to change the laws of physics, but we did want to change the rules of the market.
The thing is, changing the rules of the game when you weren’t invited to play is a tough thing to do.
Power Ledger’s distributed energy trading platform had already been demonstrated in Australia at the Busselton Lifestyle Village and in New Zealand with Vector Energy prior to our ICO, so we knew it had the technology capability to deliver the ...
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Power Ledger - Medium