Just trying to get my head around the utility of the POWR token. So the token utility lies within its ability to purchase Sparkz, the actual comoditiy that is considered to hold electrical value (i.e. 1 sparkz = 1 KWh). Is this understandning correct?
can Sparkz be purchased/sold for fiat currency? if so, does this make the POWR token somwhat useless?
Sparkz are pegged to the lowest denomination of the local currently($0.01USD in the U.S, $0.01AUD in Australia etc) and are used and traded on a private blockchain. In AUS I could sell 1kWh for 25 sparkz as an example as a kWh cost $0.25.
A user with solar, registered on a PL platform can sell their excess generated electricity on the platform for sparkz to someone on the same distribution network(power grid)without solar and when they have 10 000 sparks they could cash out and get $100 worth of POWR which they can transfer to exchange and convert to another coin or fiat.
The same could be done in reverse, buy POWR on an exchange and convert it on the PL platform for Sparkz and use that to buy energy from someone on the same distribution network