Walmart Obtains Patent for Crypto-Powered Electrical Grid

U.S. retail giant Walmart won this week a patent for the development of an energy consumption management system that will be powered by digital currency.

The patent, which Walmart applied for last December 2017, was published June 14 by the U.S. Patent and Trademark Office (USPTO). The system is expected to aid companies manage energy consumption better and regulate demand on an electrical grid using a public blockchain.

The patent also says that devices on the network, which will be alloted cryptocurrency funds to purchase power from a utility vendor, will be able to share funds between each other should a device exceeded its cryptocurrency allotment to ensure that it continues operating during the billing period. The system will also show which device consumes more power than others.

Source: Coin Telegraph