System would manage demand via cryptocurrency
The US Patent & Trademark Office reported on its website Thursday that Walmart applied for a patent for a blockchain-based smart grid system targeting transactive energy system using the devices that generate load on a power grid. Titled, "Managing a demand on an electrical grid using a publicly distributed transactions ledger," the patent was described as "a method and system for managing a demand on an electrical grid."
The invention comprises:
- "Receiving a capped total amount of cryptocurrency available to purchase units of energy from an energy provider;
- "The capped amount of cryptocurrency being recorded in a publicly distributed transaction ledger;
- "Allocating a portion of the cryptocurrency of the capped total amount of cryptocurrency to each energy consumption device; and
- "Wherein the portion of the cryptocurrency allocated to each energy consumption device is recorded in the ledger, receiving, a request from an energy consumption device of the plurality of energy consumption devices that the energy metering device purchase an energy unit, using the portion of cryptocurrency allocated to the first energy consumption device, accessing the publically [sic] distributed transaction ledger in response to receiving the request from the first energy consumption to verify that the first energy consumption device has a remaining amount of cryptocurrency," the website said.
Seven people were listed as the inventors and Wal-Mart Stores filed the application Dec 13, the application said.
Source : https://www.smartgridtoday.com/members/Walmart-applies-for-blockchain-energy-patent.cfm?sd=35