- November 5, 2019
- Posted by: guyadmin
- Category: Energy & Water Management
We are not efficient when it comes to energy use. That is, sadly, a fact, even if it’s not entirely our fault. In the US, for example, 68% of the energy consumption for 2018 was actually “rejected energy”. Rejected energy is part of the energy of a fuel that could be used for a purposeful activity, like making electricity or transport. However, because of the technologies that we currently use to consume fuels a lot of it gets tossed out by turning it into heat in the environment.
This scenario might change. RedGrid, an Australian energy technology company, is using post blockchain technology and AI in order to mend this situation.
The company used machine learning algorithms and created a new distributed architecture to underpin the energy grid and turn neighborhoods, apartment blocks or shopping centers into their own mini grids. This way devices and appliances within the mini grid can communicate with each other and adjust their energy consumption according to the amount they need at the moment. Dr Adam Bumpus, a co-founder of RedGrid, claims that the technology will also help prevent blackouts during the summer.
RedGrid’s architecture was developed with a company named Holochain. The company uses a technology that resembles blockchain. While in blockchain there’s a need for all nodes to be updated simultaneously, Holochain doesn’t require that. Instead, all nodes have the capacity to retrieve the information on another node. This is faster than traditional blockchain, and allows devices to quickly communicate with each other and adjust if there’s a need.
This only shows the limitless potential of technology. Not so long ago the main thing we associated with blockchain is bitcoin. Nowadays, this technology became, in a way, the basis for smart energy distribution.