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Walmart has just filed a patent for a unique electrical grid. This is not your typical electrical grid. This is a grid which will be powered by cryptocurrency.
The purpose of the crypto grid is to better manage the consumption of energy and offer a transparency which is only possible due to the blockchain. Devices on the network will have a specific allotment to purchase energy with cryptocurrency. Devices on the network may share funds so that other devices have the required amount of cryptocurrency for the power needed.
Walmart filed the patent in the last months of 2017. The decentralization of the energy sector would be a tremendous feat if Walmart can achieve it. Walmart has been quite aggressive in filing patents pertaining to new blockchain technology. One of the patents is called a “Smart Package Patent” which would record a customer’s purchases. Walmart has also explored putting food on the blockchain to keep track of consumption and improve safety in cases of food recalls. Instead of a recall taking days to enact, blockchain technology could accomplish this in a matter of hours.
We are bound to see more applications for the blockchain technology as big business enters the cryptocurrency market.