Walmart Awarded Patent for Blockchain Based Energy Management
The patent was filed on December 13, 2017, and released by the USPTO on June 14, 2018. It shows Walmart has sought to protect its intellectual property for “Managing demand on an electrical grid using a publicly distributed transactions ledger.”
The application is for a method and system which allocates an amount of cryptocurrency to purchase energy from a supply and goes on to allocate an amount of cryptocurrency to each energy consumption device, all recorded by a publicly distributed transaction ledger, or blockchain. Additional units of energy can be requested by the system which verifies energy consumption and that units of cryptocurrency are available to make the purchase.
Devices Consume More Energy Than Needed
As background to the patent, Walmart explains:
Currently, energy providers deliver energy to locations that inefficiently use the energy, which leads to increased energy costs for consumers. The increased costs result from various appliances and devices that consume energy at higher levels than the appliance or device may actually need to function or perform certain tasks. …
Read more –> click here all content is copyright Bitcoinist.
Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..
Powered by ABITCO.IN
by Bitcoinist via ABITCO.IN