Powerledger’s blockchain-based token POWR has skyrocketed in value to a near all-time high since its debut on Coinbase on November 16 2021. The Powerledger token rose 1,038 percent since its listing on Coinbase.
Listing on United States-based cryptocurrency trading platform Coinbase is a strategic move for Powerledger, which has projects spread across both North and South America.
“Powerledger has projects in the United States and South America. Listing our POWR token on Coinbase allows people in the United States, and other countries to participate in Powerledger’s token ecosystem,” said Powerledger co-founder and Chairman Dr Jemma Green.
Powerledger’s technology is in use by the Midwest Renewable Energy Tracking System (M-RETS) to facilitate the trading of Renewable Energy Certificates (RECs).
M-RETS tracks generation from renewable resources across all of North America, serving as a trusted centralized gateway to compliance and voluntary environmental markets to make it easier to track RECs through one system.
“Powerledger’s blockchain technology is being used globally for peer-to-peer energy trading, the trading of RECs and to facilitate the trading of energy in a number of different ways. In a sense, you could say that Powerledger’s technology helps turn renewable energy into a form of currency,” said Ms Green.
Earlier this year, Powerledger migrated its own Powerledger Energy Blockchain from Ethereum to a Solana-based blockchain, which is much faster and able to support higher transaction throughput.
Companies Power Ledger has partnerships include Kansai Electric Power Company Japan, American PowerNet USA, Silicon Valley Power USA, Clearway Energy Group, M-RETS, ekWateur France, Tata Power India, Sustainable Energy Development Authority (SEDA) Government of Malaysia, BCPG Thailand and Carlton United Breweries, Australia.