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!
