Australian solar start-up Power Ledger has worked in collaboration with retail energy company Origin to begin a trial on a blockchain-based energy marketplace.
Australian solar start-up Power Ledger has worked in collaboration with retail energy company Origin to begin a trial on Power Ledger`s blockchain-based peer-to-peer energy marketplace.
Power Ledger has received more than $17 million AUD through two POWR token presales, as cryptocoinnews.com reported at the beginning of this month. Power Ledger is the first Australian start-up to launch an initial coin offering (ICO), expecting to surpass $30 million by the end of the public ICO, as the online media explained.
The Power Ledger P2P marketplace has already been introduced in some parts of Australia. The platform gives property owners and organizations the chance to buy and sell solar power over a blockchain-secured network, as cryptocoinnews.com pointed out in their publication.
The company has recently completed a trial that showed Power Ledger can save households about $475 per year.
Now the company is signing an agreement with Origin, the largest retail energy provider in Australia. The two companies will test the benefits and challenges of trading energy across a regulated network.
“While it’s still fairly early days for this technology, we are keen to explore the potential benefits that peer-to-peer energy trading could offer our customers. Power Ledger is one of a number of emerging technologies we’re currently exploring, which we believe could help us meet the changing needs of our customers.”, said Tony Lucas, executive general manager of Origin’s future energy division, as quoted by cryptocoinnews.com.
“We hope the trial will help us better understand the value proposition for consumers, as well as the regulatory and technical implications of the peer-to-peer trading model.”, as he added.
The trial is reportedly starting in Octomber and will be completed in a period of three months.