Blockchain Energy Trading Startup Power Ledger Raises $17M in Cryptocurrency ‘ICO’

By [email protected] Power Ledger, an Australian startup that’s seeking to use blockchain technology to create a peer-to-peer renewable energy network, is in the midst of raising tens of millions of dollars in what may be the first “cryptocurrency” fundraising effort in the energy space.

On Sunday, the Perth-based startup launched its first sale, or “initial coin offering” (ICO), of Power Ledger POWR tokens — units of ownership of the company traded on the Ethereum cryptocurrency network. Within 72 hours, the company sold out of the 100 million POWRs offered in a public presale, in which the price per token was set, for

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