I do very informal reviews, so get ready for this one.
Bigger Picture View of Power Ledger ($POWR)
They did the smart thing, and went macro (focusing on company investment) with their approach instead of micro (focusing on the consumer).
Sorry, I’m not one of those crypto people who believe “companies = evil! must stay away!” — The best way to facilitate widespread adoption is through partnership with a larger entity that can plug you in with the target demographic that you’re trying to reach. A good partnership should possess the infrastructure, marketing, and reach that will really bear fruit in the long-term.
Here’s their website — https://powerledger.io/
As mentioned before, I WAS a big fan of $POWR. They aren’t one of the ‘shiny’ coins everyone is talking about, but I feel like they’re building up the right way. No gimmicky announcements about random shit to pump the price and their business model actually seems viable and appears to target a needed niche.
Here’s the recent deal (December) that got inked that I’m talking about in specific for Power Ledger ($powr) — http://www.newsbtc.com/2017/12/18/power-ledger-partners-with-thai-company-for-distributed-renewable-energy-trading/
I think it’s good that their targeting developing economies because those tend to be the areas that are in most need of foreign direct investment.
For anyone who feels like being a nerd today, here’s a non-crypto scholarly paper on the rapid increase in FDI in countries with developing economies and how governments have taken to soliciting such investment as a means of fueling their economy without being forced to increase their spending + debt. http://www.imf.org/external/pubs/ft/fandd/1999/03/mallampa.htm
Sounds like a no-brainer, but getting FDI for a developing economy can be difficult because business people are …well, business people. So, you’re not going to invest in a foreign market without some sort of guarantee that it will work.
Thus, in many cases foreign countries tend to ‘sweeten the pot’ for foreign investors to entice them into investment.
As I expected, as a nation with a developing/emerging (sorry if I’m using these terms interchangeably), the focus is bound to be on infrastructural improvements so that the country can set themselves up to scale bigger projects in the future and increase their capacity to grow and receive larger foreign investments (FDI).
More stuff on $POWR
All the above checks out so far. Lots of information + transparency, roadmap/timeline clearly posted, active on all SM platforms.
So, one of the main software guys is Nuno Martins — never heard of him.
But he’s CTO of Ledger Assets (don’t know what that is) and he helped create ‘BitCar’, which looks like a DUMB ass idea. Just being honest. https://medium.com/bitcar-mag/the-team-behind-bitcar-exotics-crypto-trading-platform-1ff6f59c7de6
Gimmicky, even. So that’s loss of a point for $Powr on that one. The team matters! Don’t care what deals you ink. I’m looking to give them more of a chance than this, so let me keep digging.
Two Github entries, hardly anything. There’s a chance that his resume could have been bullshitted. If you have a length track record of being in blockchain development, you should have a lengthy resume of blockchain developments. The fact I can’t find any, in my head, means you don’t really have any. And if you don’t, you lied to me. And if I’m being lied to, I can’t give you my money. Simple.
Butttt I could be overreacting on $POWR — so, I will continue to do due diligence before any endorsement. All else things held equal though — it’s great outside of this. Team determines quality and without quality, adoption=impossible.
So, I go to do some research on the team and here’s what I find from https://masterthecrypto.com/power-ledger-analysis/
But then this is on the actual POWR Ledger site right now:
Everybody’s job position is different.
Last chance — let’s check the whitepaper.
Here’s the whitepaper by the way — https://powerledger.io/media/Power-Ledger-Whitepaper-v3.pdf
Power Ledger is powered via a Consortium Blockchain structure:
Here’s a great article on what a ‘consortium blockchain’ is by Vitalik Buterin — https://blog.ethereum.org/2015/08/07/on-public-and-private-blockchains/
Protip: Consortium Blockchains = Oligapolies (sort of). Private blockchains= monopoly. Public = perfect competition (if we’re using economic terms here, though it rarely ends up like that)
Basically, Power Ledger controls who controls the nodes, who manages/keeps records of the blockchain, and who adds to it. This makes them virtually audit-proof (if they wanted to be). It also makes me question whether they actually have the ability to live up to their promise of providing HONEST peer-to-peer trading.
I don’t see anyone with any VERIFIABLE experience (names of solid projects they’ve worked on) to give me confidence in this coin in the long-term either.
The quality of it’s actual tech is relatively unknown too and there’s nothing to really assure me that the actors on this coin will ever fulfill their promises or refrain from stealing the coins.
Not saying they will, but who could stop them?
Thus, my verdict is that POWR is a hard pass. Yup, a pass.