BTC Markets adds Power Ledger
Today is likely to go down in Australian blockchain history. The first Australian ERC20 token to be listed on BTC Markets’ exchange is Power Ledger (POWR) – and it starts trading today (August 21). It is trading against Bitcoin (BTC) and the Australian dollar (AUD). BTC Markets says the listing is in response to market demand. Power Ledger is one of Australia’s largest crowdfunded projects. It has market capitalisation of over AU$94 million dollars.
Jarrod Crane is co-founder of BTC Markets. He said: “Power Ledger brings exciting technology to the energy market, as one of the few platforms to offer peer-to-peer renewable energy trading. At BTC Markets, our mission is to support the growth of innovative Australian projects, connecting them to Australian investors who understand the transformative potential of blockchain technology. ”
BTC Markets is an Australian marketplace for blockchain assets. It was founded five years ago and is an entirely privately-owned Australian exchange.
The enterprise has staff based in Melbourne. BTC Markets is popular with Australian traders because it supports AUD transactions. BTC Markets says the platform hosts 250,000 registered users. Together they make up four-fifths of the Australian market, according to the latest Accenture research.
Power Ledger has previously been featured by Cryptocurrency Australia. We named it as one of the top eight blockchain start-ups in the country. That was back in March when we answered a request to explain what the blockchain landscape is like in Australia. As developments today continue to show, it’s a sign things are moving forward.
Decentralised energy trading
So what is Power Ledger? It is a peer to peer renewable energy trading platform. It enables the sale of surplus renewable energy, generated at residential and commercial developments, connected to existing electricity distribution networks.
Power Ledger is currently taking part in an $8.25 million trial funded by the Australian Government in Fremantle, Western Australia. The smart city project aims to determine how blockchain based energy trading can support clean, cheap and resilient energy. In March, Power Ledger also announced the first commercial deployment of its energy trading platform in Melbourne, Victoria.
David Martin is co-founder and Managing Director of Power Ledger. He said:
“We’re thrilled to be the first Australian ERC20 token to be added to BTC Markets. With the extensive BTC Markets user base, this listing is a huge step towards our goal of democratising power and will allow platform users and Application Hosts to easily acquire POWR for use within our platforms.”
Liquidity continues to increase
POWR is the eighth listing on BTC Markets. It follows the inclusion of OmiseGo (OMG) earlier this month. Future plans for the exchange involve an expansion of listed tokens that pass a rigorous vetting process.
According to research by Accenture and the Australian Digital Commerce Association, more than AU$3.9 billion was traded on digital currency exchanges in Australia in 2017. Research also suggests that there are over 300,000 cryptocurrency traders in Australia, who generated 2.7 million transactions with an average trade value of AU$1,430 in last year.
Since releasing their peer-to-peer trading solution, Power Ledger has been engaged to develop additional products. Those products include microgrid trading, carbon credit trading, electric vehicle settlement, virtual power plants and asset germination events.
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