Power Ledger (POWR) Makes It to Final in Richard Branson’s Extreme Tech Challenge (XTC)
Power Ledger appears to be growing from strength to strength and has now entered the final stage of Richard Branson's XTC.
POWR is having a tremendous run that has seen the project grow at exponential rates since its ICO in the fourth quarter 2017. The token initially listed at $0.05 and now sits at $1.50 after briefly touching $2 last week.
Power Ledger is a blockchain-based peer-to-peer energy trading platform. The project aims to create and harness electricity and water microgrids for trading in communities and to support major energy grids.
The benefits of this technology are two-fold. Firstly, microgrids will lower the cost of energy in urban and rural areas alike. The second advantage of the POWR platform is the provision of power to developing nations in an affordable and sustainable way. As of now, 79% of the developing world does not have access to electricity, which, at its most basic level, means that crucial food items and medicines cannot be refrigerated.
The XTC recognition is another feather in the cap of a project that is persistently hitting the roadmap objectives outlined on its website and media channel.
The objective of the competition is to empower entrepreneurs, giving them the ability to scale ideas that can reshape industries and even create new ones. As Richard Branson puts it:
"We are hunting for people and ideas that can literally change the world!"
Whats next for POWR?
The next step for Power Ledger is what its roadmap calls “asset germination.” This refers to the acquisition of renewable assets such as large-scale batteries and PV generation systems. Germination means that POWR token holders alone will be able to purchase fractional ownership of these assets. As the assets generate and sell power, the proceeds from the energy will pass to the beneficiaries of the assets.
The roll-out of the program will begin in the second quarter of this year and it is yet another innovative step for a project that is forging a path towards a solar-driven future.