A patent (U.S. Patent No. 10,784,715) for a method of verifying an energy transaction by generating a first and second grid telemetry fingerprint was just issued to LO3 Energy, Inc. The grid telemetry fingerprints are generated through a hash of grid characteristics including voltage, phase angle difference, reactive power, and change in grid inertia. Using a distributed ledger, the transaction is authorized if the first and second grid telemetry fingerprints match.
LO3 Energy is integrating blockchain technology into its grid devices to allow for peer-to-peer transactions, microgrid transactions, and electric vehicle charging among other uses. LO3 Energy has two issued patents in the sector - both in regards to using blockchain technology for energy transactions. Learn more about the Magic Number® Energy Financial Settlements Patent Forecast® through market and patent data with a subscription. Contact us today for a free trial!
Decentralization of the world's electrical power generation continues with the introduction of demand response, distributed generation, and microgrid technologies. This Patent Forecast evaluates the fundamental payment and settlement state of the art of clearing and processing energy payment transactions.
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Decentralization of the world's electrical power generation continues with the introduction of demand response, distributed generation, and microgrid technologies. This Patent Forecast evaluates the fundamental payment and settlement state of the art of clearing and processing energy payment transactions.