Walmart Has Been Awarded Patent for Crypto-Powered Energy Consumption Management System

As Resources Reported U.S. retail giant Walmart has won a patent for the development of an electrical grid that will be powered by Bitcoin (BTC) or other digital currency, according to a patent application published on June 14 by the U.S. Patent and Trademark Office (USPTO).

The system is designed to help companies to better manage energy consumption and regulate demand on an electrical grid using a publicly distributed transactions ledger. Walmart initially filed the patent in December 2017.

The patent says that both the households and large organizations can use a blockchain-based network of energy-consuming devices. Subsequently, they can assign each device a specific amount of BTC or any other accepted cryptocurrency, which can be used to purchase energy from a utility vendor.