A P2P blockchain energy startup wins millions in Richard Branson's tech competition

posted 7 months ago
Power Ledger, a company from Perth that uses an energy network based entirely on blockchain technology, was the victor of the event held on the billionaire entrepreneur's Caribbean island. “It’s validation that what we’re doing is meaningful and people see extraordinary value in the potential for how we can make renewables a bigger part of the energy system" the winning team said.

Power Ledger uses Blockchain technology to offer low-cost, renewable electricity sources to its customers through peer-to-peer trading, rather than major power providers. Joint founder Dave Martin said “We’re now running a microgrid with partners in Bangkok, we’re looking at developing a virtual power plant. For us it was around demonstrating how our technology could be used to resolve real world problems both in developing economies as well as in first world economies.”
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