Australian solar power panel manufacturing company expects the Blockchain to improve the efficiency in the energy market by enabling peer to peer trading. The ultimate aim of the POWR token is to enable the peer to peer energy trading. Blockchain is becoming the hot topic in the power industry today.
Trading the energy
By cutting out the middleman in power trading, costs are expected to be come down. This may result in more people installing solar power panels and using some renewable sources of energy. Ultimately higher demand could result in economies of scale for solar panel manufacturers and costs may come down.
Gaining support from ICO
As per the Bloomberg report, the pre-sale was 57 percent subscribed since opening on Sunday. This indicates that the subscribers had paid around $5 mln to obtain POWR tokens. If the pre-sale is completed successfully, the company will have raised ~ $9 mln of funds. If the demand during the ICO is high, the total money raised by the company could reach $100 mln.