The blockchain-based renewable energy startup Power Ledger is rolling out a new trial of its technology.
Power Ledger is a decentralized energy trading platform that utilizes cryptocurrency to create a marketplace around the buying and selling of renewable energy.
The goal is to redesign the economics of how energy is traded and distributed, generating stable, affordable and available energy globally through crypto transactions that can transfer value transparently in an automated environment.
The company says its new trial is located in Western Australia, and is the first test of its technology outside of a metropolitan area. The trial will analyze how local settlements and farmers can take advantage of Power Ledger to lower costs and save energy.
Power Ledger is partnering with Innovations Central Midlands, BSC Solar, Sonnen and CleanTech Energy to launch the pilot test.
Last October, Power Ledger won the top prize at the Extreme Tech Challenge (XTC), billed as the world’s largest startup competition.
The finals were held at Richard Branson’s Necker Island in the British Virgin Islands.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.