Blockchain Clean Energy Tracking With Secure Meter Authentication
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Solution Overview
Problem
Consumers have limited knowledge of the sources of energy delivered to them and lack effective resource management systems that incorporate dynamic information and legal regulations, leading to inefficiencies in energy resource planning.
Innovation Solution
A specialized hardware- and software-based control system manages energy resources and related data using decentralized blockchain networks, assigning priority levels to different energy sources, including clean energy, and provides transparent information through graphical user interfaces.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If consumers rely on traditional grid systems for energy delivery, then energy distribution is simplified, but consumers have limited knowledge of energy sources and lack control over precise different sources
Solution Approach 1:
The patent introduces a blockchain-based intermediary system that acts as a mediator between energy producers and consumers. This blockchain network records and tracks energy transactions, source information, and delivery details, providing consumers with transparent visibility into their energy sources without requiring them to directly manage complex tracking infrastructure themselves.
Solution Approach 2:
The system implements feedback mechanisms through smart contracts that automatically provide consumers with information about their energy sources, consumption patterns, and environmental impact. This feedback loop enables consumers to make informed decisions about their energy usage and sourcing preferences.
2Adaptability or versatility
If consumers install localized energy systems like solar panels, then they can produce their own energy, but they lack effective resource management systems that incorporate dynamic information and legal regulations
Solution Approach 1:
The blockchain-based energy management system serves multiple functions: it tracks energy production and consumption, manages transactions between parties, stores regulatory information, provides consumer education, and enables dynamic resource planning. This universal system handles diverse energy sources and management needs through a single integrated platform.
Solution Approach 2:
The system dynamically adapts to changing energy production, consumption patterns, and regulatory requirements. Smart contracts automatically adjust to new information and conditions, allowing the resource management system to remain flexible and responsive without requiring manual reconfiguration or complex intervention.
3Productivity
If grid systems implement complex pricing structures based on demand and availability, then energy allocation efficiency improves, but consumers face difficulty in understanding and managing their energy consumption
Solution Approach 1:
The system enables consumers to self-manage their energy consumption through automated smart contracts that handle pricing calculations, consumption tracking, and billing. Consumers can set their own preferences and parameters, and the system automatically executes transactions and provides reports, eliminating the need for complex manual management while maintaining efficient allocation.
Data Source
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AI summary
Systems, devices and methods for managing a preferred energy supply chain are provided. A system including a specialized hardware- and software-based control system with access to a network including one or more distributed ledger(s) authorizes one or more energy distribution entity(ies) to reserve future right(s) to preferred energy for distribution to customers using new forms of promissory tokens (e.g., reserved preferred energy tokens). The system includes a secure metering device with a crypto-processor, holding an asymmetric cryptography key pair associated with preferred energy production hardware. The device is physically attached or integrated with the production hardware, and exclusively holds a unique private key of the asymmetric cryptography key pair, while publishing only the public key of the key pair through the network. The system authenticates production of, and transactions in, clean energy using new forms of smart contracts between buyers and sellers, with the aid of a governance body.