Does the combination of Cryptocurrencies plus Blockchain represent a new era of energy grid management?

Colleagues, Walmart’s new patent entitled “Managing Demand on an Electrical Grid Using a Publicly Distributed Transaction Ledger” may be the next move toward national and region energy grids running on Blockchain technology. In this approach energy producers and consumers would conduct transactions using cryptocurrencies. Under this patent the total amount of cryptocurrency available to purchase units of energy from an energy provider. Micro grids comprised of local residential or commercial entities could use a Blockchain distributed ledger to build a network of energy-consuming devices. Each device would be allocated a set amount of Bitcoin or another cryptocurrency used to purchase energy from the utility provider over a set billing period. When an individual network uses less than its allocated energy consumption, it can be structured to share it with another network. In 2018 LO3 an energy trade startup began testing this with the Brooklyn Micro grid pilot program. And Australia-based startup Power Ledger is building a platform that allows users to buy and sell solar electricity in real time. Bottom line: Could Blockchain enabled micro grids using cryptocurrencies as their method of payment represent a viable method for solving the dilemma of failed energy systems? Share a comment and visit us today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)