Crypto Review: Power Ledger
A token that claims to revolutionize energy trading. Let’s dive in.
Power ledger has had a pretty major pump lately.
POWR Market cap stands around $279 million currently.
Dr. Jemma Green — co-founder and chair
View Dr Jemma Green's profile on LinkedIn, the world's largest professional community. Dr Jemma has 7 jobs listed on…www.linkedin.com
With Power Ledger for 1 year 7 months now, Jemma appears to have an extensive background in water/climate related job positions.
David Martin — co-founder and managing director
View Dave Martin's profile on LinkedIn, the world's largest professional community. Dave has 8 jobs listed on their…www.linkedin.com
Same amount of time invested as Jemma, David also has a lot of experience in energy-related backgrounds. No technical expertise thus far in the team.
John Bulich — co-founder and director
View John Bulich's profile on LinkedIn, the world's largest professional community. John has 6 jobs listed on their…www.linkedin.com
Also based in Australia, John has been a director/manager for many years, still no technical background in the team.
Dr. Govert Van Ek — co-founder and director
View Gov van Ek's profile on LinkedIn, the world's largest professional community. Gov's education is listed on their…www.linkedin.com
Lots of experience being a director/founder/CEO, no real technical background.
Jenni Conroy — co-founder and company secretary
View Jenni Conroy's profile on LinkedIn, the world's largest professional community. Jenni has 7 jobs listed on their…www.linkedin.com
Involved in the energy business for quite some time, it’s unclear what Jenni brings to the table for this new blockchain.
Vinod Tiwari — manager sales and business development
View Vinod Tiwari's profile on LinkedIn, the world's largest professional community. Vinod has 7 jobs listed on their…www.linkedin.com
Vinod has been with PowerLedger for 6 months now. It’s becoming increasingly clear that this entire endeavor is with a group of people who have worked together previously in the Australian energy market.
Marc Griffiths — ethereum engineer
Finally an Engineer, where does Marc fit in to this equation?
View Marc Griffiths' profile on LinkedIn, the world's largest professional community. Marc has 8 jobs listed on their…www.linkedin.com
According to this, Marc is CTO. The PowerLedger site does not say this, only that he is an engineer. He’s also from Perth, Australia. It does appear that he has some experience in financial markets and blockchain in general. Finally some expertise in the crypto field for PowerLedger’s main team, though it does concern me that he’s the only technical expert in the field.
Kristian Myhre — energy systems specialist
View Kristian Myhre's professional profile on LinkedIn. LinkedIn is the world's largest business network, helping…www.linkedin.com
Nothing major to note here, just a standard energy consultant for the project.
James Eggleston — analyst
View James Eggleston's professional profile on LinkedIn. LinkedIn is the world's largest business network, helping…www.linkedin.com
James has a lot of research background, but nothing concrete in the industry other than power ledger involvement. Probably not a major contributing factor to the success of this new blockchain.
Meagan Cojocar — analyst
View Meagan Cojocar's profile on LinkedIn, the world's largest professional community. Meagan has 6 jobs listed on…www.linkedin.com
Meagan is also from Perth, Australia (are we seeing a pattern yet?)
Her previous experience includes RedBull brand management, business continuity, and public awareness. She might be good for marketing but nothing of significance to the technology behind this new ledger.
Nuno Martins — software developer
View Nuno Martins' professional profile on LinkedIn. LinkedIn is the world's largest business network, helping…www.linkedin.com
Kind of interesting, the only other technical expertise in the project has a blank profile… and of course, he’s also from Australia.
Perhaps someone can correct me, but I can’t find anything online about the power ledger code or tech. Someone in the comments, please send me anything you have on any technical documentation!
This is kind of a concern… blockchains with open consensus should have code available to audit.
As of this writing, the r/PowerLedger subreddit has 4,308 members, and 123 people online browsing it. Still somewhat significant compared to smaller altcoins.
Interest in “powerledger” has grown significantly in November 2017 according to google trends.
Unfortunately without any repositories I can’t link to any development statistics, so this is a huge gray area and concerning.
On the primary page http://powerledger.io they outline intended goals, which include:
- Q1 2018 — Begin distribution of Growth Pool & Technology layers transition.
Honestly this sounds like buzzword enhancement. Including any enhancement words for being traded on the ethereum network. It seems like piggybacking to me.
2. Q3 2018 — First Asset Germination Event & Marketing and Partnerships.
I’m especially concerned that marketing/partnerships are happening Q3 2018 because this is a company whose entire board is all about management/marketing, and virtually zero technical skill. How is a chain going to survive this way?
3. Q4 2018 — Beta test of new applications.
This doesn’t even make sense. Beta testing should have been done months ago, there are local testnets, global testnets, among many other resources. But that doesn’t surprise me considering most of this company has zero technical skill whatsoever.
After digging in, I can’t personally invest in power ledger. It appears to be a cash grab by a small Australian power community to cash in on the blockchain hype and Ethereum chain. Your mileage may vary!