Blockchain Intermediary for Real-Time Renewable Power Balancing
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Solution Overview
Problem
Current systems for managing electricity from renewable sources face challenges in maintaining real-time balance between supply and demand, leading to inefficiencies and increased costs due to prediction errors in supply and demand alignment.
Innovation Solution
An intermediary system utilizing a blockchain network to receive and manage electricity supply and usage data from multiple producers and users, facilitating real-time adjustments and transactions to balance supply and demand, thereby reducing unnecessary generation or surplus.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If prediction-based supply and demand alignment is used, then electricity balance can be maintained, but prediction errors lead to inefficiencies and increased costs
Solution Approach 1:
The system implements real-time feedback by continuously monitoring actual supply and demand data through blockchain, comparing it with predictions, and automatically adjusting transactions. This closed-loop feedback mechanism eliminates prediction errors by using actual real-time data instead of relying solely on forecasts, thereby maintaining electricity balance while improving system efficiency.
Solution Approach 2:
The system enables self-service through automated smart contracts that autonomously execute supply-demand balancing transactions based on real-time blockchain data. The intermediary system automatically identifies shortages and initiates transfers without human intervention, allowing the system to self-correct prediction errors and maintain efficiency while ensuring reliable electricity balance.
2Loss of energy
If real-time supply and demand monitoring is implemented, then unnecessary generation can be prevented, but system complexity increases
Solution Approach 1:
The patent introduces an intermediary system that acts as a mediator between multiple suppliers and users, centralizing the complex task of real-time monitoring and transaction coordination. This intermediary layer simplifies the overall system architecture by consolidating monitoring functions and automated transaction execution, preventing unnecessary generation while managing complexity through a dedicated coordinating entity rather than distributed peer-to-peer interactions.
3Adaptability or versatility
If multiple intermediaries are involved in asset transactions, then market coverage is expanded, but transaction coordination becomes more difficult
Solution Approach 1:
The system merges the functions of multiple intermediaries into a unified blockchain-based transaction framework. By combining transaction coordination, supply-demand matching, and transfer execution into a single integrated system that all intermediaries participate in, the patent expands market coverage while simplifying coordination. The blockchain provides a shared ledger and standardized protocol that enables multiple intermediaries to work together seamlessly without complex point-to-point coordination.
Data Source
AI summary
An intermediary system of an intermediary for intermediating transactions of an asset includes circuitry. The circuitry receives, through a blockchain network, each of a plurality of amounts of supply for a specific asset produced by a specific type of production method. Each of the plurality of amounts of supply is supplied by a corresponding one of a plurality of suppliers within a fixed period. The circuitry receives, through the blockchain network, an amount of usage of the specific asset used by a predetermined user within the fixed period, transmits, to another intermediary system of another intermediary, a request for transfer of the specific asset corresponding to an amount of shortage of the specific asset based on a shortage of the specific asset to be intermediated to the predetermined user. The shortage is indicated by a difference between a sum of the plurality of amounts of supply and the amount of usage.