Dr Green revealed Power Ledger is purchasing a commercial scale solar system and a large and grid-connected community battery to kick off its ‘asset germination’ project.
“People will be able to purchase a token which will represent a percentage of ownership of one of those assets and in doing so they will receive a (share) of income that asset generates,” Dr Green said.
Power Ledger’s ‘Asset Germination Events’ will enable everyday people to buy small fractions of energy producing assets.
The security token we will be launched in 2019 to allow everyday people to invest in and co-own the assets.
The asset registry will be managed on a blockchain and Power Ledger token holders will be able to use their tokens (POWR) to purchase a share in energy assets.
“We are in the final stages of procuring our first assets for the launch of that next year,” Dr Green said.
“Say they purchase an amount of tokens that represents 10 per cent of that asset, then they would receive ten per cent of the income that that asset generates.
“Previously in Australia, only people with an annual income of at least a quarter of a million dollars or net assets of two and a half million dollars were able to invest in this asset class and the asset germination token will be available to people who do not have these financial means.”