Crypto World Cup Day 6: Warren Buffett vs. Andreas Antonopoulos

Warren BufffettWarren Bufffett

Day 6 of the Crypto World cup has arrived and one of the biggest crypto bears out there comes with it – Warren Buffett! Does crypto reign supreme today or was Warren able to slash his claws and bring it down? Check out all that and more at the Crypto World Cup!

If you don’t know them all yet, meet the players of our Crypto World Cup.

Check out the results and highlights of today’s games

Match 1: Warren Buffett 1-2 Andreas Antonopoulos

Warren Buffett is known in the crypto world as a huge bear – in other words, he’s not a fan of crypto, particularly Bitcoin (BTC). So everyone was especially interested in witnessing the match between him and Bitcoin advocate Andreas Antonopoulos.

Buffett fired shots all throughout the game, going so far as to get one past Antonopoulos. But Antonopoulos wasn’t going down without a fight!

Antonopoulos got two shots in, winning the match for himself and for Bitcoin. That’s what the power of Bitcoin is all about people! Take that crypto bears.

Match 2: Don Tapscott 1-2 Jack Dorsey

Jack Dorsey’s gameplay was a pleasant surprise today, doing better than many crypto enthusiasts thought he would. Don Tapscott may have gotten one goal in, but it wasn’t enough to beat Dorsey in a great game.

Dorsey and Tapscott fought hard, but Dorsey came out on top.

Match 3: CryptoYoda 3-1 Erik Voorhees

This was the second match for CryptoYoda and Erik Voorhees. CryptoYoda won in an absolute wipeout his last game, while Voorhees lost to Brad Garlinghouse.

This time around, the streaks continued for both players, CryptoYoda slamming Erik Voorhees. Voorhees did get one goal in, but it was on a penalty and Voorhees’ inability to properly get past CryptoYoda’s defence line showed.

Who do you think will make it into the next round? Who will win the Crypto World Cup?

>> Check out Day 5 of the Crypto World Cup

Featured image: FourFourTwo

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IBM Partners With Mediaocean on Blockchain Solution for Ad Industry

IBM partners with MediaoceanIBM partners with Mediaocean

IBM partners with Mediaocean: IBM’s technology arm, IBM iX, and the advertising software company Mediaocean have partnered to create a blockchain solution and consortium for the advertising industry.

IBM Partners with Mediaocean: Blockchain Solution

The solution will be using the IBM blockchain and will “[aim] to provide transparency and build trust and accountability in the advertising ecosystem,” allowing advertisers to see where their budget is being used and for what.

Other agencies and companies that will be a part of the consortium include big names such as Kellogg, Kimberly-Clark, Pfizer, Unilever, and IBM Watson Advertising.

According to the official press release, the program will be built on top of the Mediaocean management platform, which processes over USD $140 million in advertising spending.

In regards to the blockchain solution, Kimberly-Clark’s Vice President of Digital Capabilities and Innovation, Mukund Kaushik has said:

“We must innovate our approach to the market by looking for new technologies like blockchain to help solve complex business challenges.”

Bill Wise, the CEO of Mediaocean, has stated that the advertising industry has come across several problems including issues in transparency that “hinder progress.”

Wise also believes that launching this new blockchain solution will improve the transparency of spending in the advertising industry and can push the advertising industry into a new era of transformation, stating:

“By partnering with IBM, we’re able to launch the first advertising blockchain solution that will improve spend transparency – at scale. This will help us come together as an industry under a single source of truth and rebuild trust to push us into a new era of advertising transformation.”

The IBM and Mediaocean blockchain solution is said to be launching in July 2018, according to Mediaocean’s official press release.

>> IBM and Stellar | IBM Using Stellar’s Public Blockchain for Crypto Tokens

Do you think that this partnership will be a success for the advertising industry?

Featured Image: Depositphotos/© alexeynovikov

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Oxford University Professors to Build the World’s First Decentralized Blockchain-based University

Oxford UniversityOxford University

A group of professors at the world-renowned Oxford University are looking to start the world’s first blockchain university, but need the powers of the EU first.

Woolf 

The team of professors believes that blockchain technology and smart contracts can help democratize the traditional structure of higher education. This “blockchain university” called
Woolf” is led by a team of academics at Oxford.

Woolf is led by Joshua Broggi, a professor from the Faculty of Philosophy.

Woolfs website’s “about” page explains:

“Woolf will be a borderless, educational society which reimagines how teachers and students connect. It will rely on blockchains and smart contracts to guarantee relationships between students and educators. For students, it will be the Airbnb of degree courses; for teachers, it will be a decentralized, non-profit, democratic community; but for both parties, the use of blockchain technology will provide the contractual stability needed to complete a full course of study.”

Woolf’s whitepaper suggests that a blockchain-based university can address many issues currently affecting universities around the globe, such as steep tuition fees and high admin costs.

Coming Soon Fall 2018

Still needing approval from the EU, Woolf’s first college, Ambrose, is looking to launch this coming fall semester. Woolf characterizes their project as the “Airbnb for degree courses” and is looking to charge $400 per ‘tutorial.’ This would come out to less than $20,000, per year – before scholarships.

The ERC20 WOOLF token will be used for a variety of things such as university budget, university governance, tuition custodianship, and internal project developments. You can view the WOOLF token paper here.

Blockchain technology is making its way into Universities across the global. Arizona State University has its own blockchain research lab and is seeking offer classes in blockchain technology in the near future.

Swiss University Lucerne accepts tuition payments in the form of Bitcoin (BTC) now.

While those two examples have nothing to do with blockchain underlying the ‘structure’ of the universities, it shows that this is just the start of blockchain in higher education.

Featured Image: OX

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Luxembourg and VeChain – More Government Use of Blockchain Suggested

Luxembourg and VeChainLuxembourg and VeChain

Blockchain technology has shown that it can be beneficial to a multitude of industries, and even governments have been looking into ways to utilize and encourage it.

Luxembourg, a small European country located between Germany, France, and Belgium, has become a part of this new blockchain-positive movement, as a delegation from the Luxembourg Ministry of Economy visited the Shanghai office of VeChain Foundation on Wednesday.

The delegation was shown several of VeChain’s solutions and applications for its enterprise users.

Consul General of the Grand Duchy of Luxembourg Consulate General in Shanghai Luc Decker, Director at the Ministry of Economy of The Grand Duchy of Luxembourg Daniel Liebermann, Consul of the Grand Duchy of Luxembourg Consulate General in Shanghai David Storne, and Deputy Director of Business Section of the Grand Duchy of Luxembourg Consulate General in Shanghai Pan Ying were part of the delegation.

>>>Did Tether (USDT) Really Manipulate the All-Time Price Highs of Bitcoin (BTC)?

VeChain CMO, Noah Huo, showed the delegation a variety of things, such as “the cold-chain logistics solution VeChain developed for a global convenience store franchise…the in-house automated NFC/RFID chip manufacturing machine” and the impending VeChainThor MainNet launch.

According to the press release of the delegation’s visit, Luxembourg is said to have “become a forerunner both globally and in Europe” in blockchain technology after discovering the benefits of it.

Luc Decker, Consul General of the Grand Duchy of Luxembourg Consulate General in Shanghai, has this to say in regards to the country’s utilization of blockchain:

“Luxembourg has a lot to gain in this new distributed technology which fully integrates into the Government’s vision to embrace the Third Industrial Revolution. Different applications of this technology are of great importance for the future development of some key industries of my country, like the financial sector or the logistics industry and companies like VeChain would perfectly match into our innovative start-up ecosystem.”

The Luxembourg Banker’s Association (ABBL) has also previously suggested that introducing a blockchain governance framework could “improve customer experience, streamline back-office operations, cut costs and increase profits” in Luxembourg, or even Europe.

Do you think more countries could accept utilizing blockchain technology in their governments?

Featured Image: Twitter

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Bank Blockchain Budgets Increased by 67% in 2017

Bank Blockchain BudgetsBank Blockchain Budgets

The use of blockchain technology in the financial industry has seemed to be increasing recently, and proof can be found in a recent report by the US-based market intelligence company Greenwich Associates.

Greenwich interviewed over 200 participants in the study over blockchain budgets, team sizes, use case exploration, key challenges and other issues to get its results.

According to the report, companies in the financial services industry spent about $1.7 billion USD on blockchain in 2017, which is an increase of 67%.

The number of companies that created a dedicated blockchain initiative doubled in 2017, while the report also has stated that “the typical top-tier bank” has approximately 18 employees working full-time on blockchain technology.

Nearly 14% of the banks and other companies that were interviewed had said that they were successful in releasing a blockchain solution.

The reduction of costs that comes with the use of blockchain technology is called “the biggest driver of blockchain investment,” although the study does mention that it can potentially be used for “creating revenue opportunities” and “shortening settlement time.”

>>>Edgar Allan Poe and ‘The Raven’ Inspired the Qravity Blockchain Platform

It’s estimated that nearly one in ten companies have a budget for blockchain that is over $10 million. Greenwich has said in its report that although companies are focusing more on this technology, the “product development has been unable to keep up with the hype.”

Richard Johnson, Vice President of Greenwich Associates Market Structure and Technology, has said that “more than half the executives [they] interviewed told [Greenwich] that implementing DLT [distrubuted ledger technology] was harder than they expected.”

This suggests that even though more and more companies in the financial services industry are attempting to implement blockchain technology, it is still difficult to get the process started.

Johnson ends his statement optimistically by saying:

“Nevertheless, more than three-quarters of projects currently under development are expected to be live within two years.”

As more financial firms decide to make use of blockchain, do you think it can be integrated by all companies in the future?

Featured Image: Depositphotos/© wutwhan

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Edgar Allan Poe and ‘The Raven’ Inspired the Qravity Blockchain Platform

Qravity blockchainQravity blockchain

Edgar Allan Poe, as a writer and poet influenced both American literature and international literature. As a struggling artist (one who never really profited off of his work), Poe influenced one man, hundreds of years after his death, to create the Qravity blockchain platform. The goal of the blockchain platform?  To not only allow creators to own their content but to profit from it as well. Something which Edgar Allan Poe was never fortunate enough to do. 

Edgar Allan Poe and the Qravity Blockchain Platform

In 1845, the New York Evening Mirror published Poe’s poem “The Raven,” turning the writer into an overnight sensation. To this day The Raven is still considered to be one of Poe’s most famous pieces of work. Despite that, Poe only netted a small amount of money for the literary masterpiece. 

This financial distress is what inspired David Brandstaetter — an Austrian producer, to create his company Qravity. When he learned that Poe never received fair compensation for The Raven, Brandstaetter realized that many creators probably go through similar struggles, in terms of fair payment and copyright infringement. 

This realization led to the 2016 creation of Qravity. Originally, Qravity just started as a company that could help bring original pieces of work to the market. Then, the team at Qravity realized that they could take their business and advance it by integrating blockchain technology into it. 

When asked how the Qravity blockchain platform first emerged on the scene, Mr. Brandstaetter said:

“I was speaking with my friend and business partner Sascha Dennstedt about Poe and how, in some ways, little has changed financially for artists. He said that we should integrate blockchain into Qravity. Some research convinced me that this made perfect sense.”

The Company

We’ve seen blockchain integrated into various sectors before, but Qravity is definitely one of the first companies to use a decentralized platform to help content creators receive fair compensation for their work. Built on the Blockchain of Ethereum, the Qravity blockchain platform allows artists and creators to accrue profits. On the platform, individuals can directly purchase something from an artist, and the original content will benefit the creator without it having to go through a third-party.

To learn more about Qravity and how it works, check out the company’s website.

>>Microsoft Bought GitHub | Should Monero (XMR) Stay or Should it Go?

The Takeaway

Did you know that the Qravity blockchain platform was inspired by Edgar Allan Poe? Isn’t that interesting? A man who, if he came back to life in 2018, wouldn’t even be able to comprehend what blockchain technology is; and yet, he is the sole inspiration behind a blockchain-based platform. Strange how the world works, isn’t it?

Featured Image: depositphotos/Mur34

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SEC Chairman Distinguishes Cryptocurrency from ICO’s, Traders are Confused

SEC ChairmanSEC Chairman

What is the difference between an ICO and a cryptocurrency? Well, according to SEC Chairman Jay Clayton, Cryptocurrencies such as Bitcoin (BTC) shouldn’t be considered a security, however, the agency chairman believes that an ICO is a security.

Why is this though? Basically, it comes down to the risk factor: An ICO is considered more of a risk for investors as many of these “coins” may not make to full fruition – meaning the return promised to investors may never happen. It is also well known that many ICO’s are purely fraudulent/scams disguised as legitimate investment opportunities. However, if a coin makes it passed the ICO phase and becomes established – it no longer is a risk in the same manner. It becomes a currency such as USD or Yen, where its value depends on market fluctuations and trends and is the sole risk of the investor – much like the regular stock markets. 

Jay Clayton’s remarks have refired a debate over the difference between ICO’s and digital tokens. This is a debate that has already existed over the last few years and once again traders and market participants are showing their concerns.

Source Image: twitter.com

The Chairman says they are not going to change the definition of security, as the U.S. has already built a $19 trillion securities market on the current rules.

We are not going to do any violence to the traditional definition of a security that has worked for a long time,” Jay Clayton told CNBC on Wednesday. “We’ve been doing this a long time; there’s no need to change the definition.”

Explaining his stance, the SEC chairman says that cryptocurrencies simply “replace” sovereign currencies, including the euro, the dollar, and the yen. Therefore, these types of currencies shouldn’t be deemed as securities.

A token, a digital asset, where I give you my money, and you go off and make a venture, and in return for giving you my money I say ‘you can get a return’ that is a security, and we regulate that,” Clayton said. “We regulate the offering of that security and regulate the trading of that security.”

Source Image: twitter.com

Traders are questioning, however, that all tokens are issued or begin life through ICO’s. So how does it make sense that the existing token is considered currency, but at the time of ICO, it’s considered a security? Previously, several other experts, including Federal Reserve Chairman refused to accept cryptocurrencies as currency but still have given different arguments which aren’t akin to the SEC Chairman’s point of view. The debate is on and market participants are presenting their ideas, but the SEC Chairman at the end of the day holds the legal position to define the difference between cryptocurrencies and ICO’s.

Featured Image: Twitter

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Jack Dorsey’s Square Cash App Receives Tough BitLicense Approval

Jack DorseyJack Dorsey

Square, a payment processing tech company owned by Jack Dorsey, just announced that it has obtained a New York BitLicense. Square App is just the seventh company to receive this approval from the New York State Department of Financial Services (NYDFS).

A Twitter user replied to the post with a question about sending and receiving Bitcoin and Cash Support responded to the question by saying:

Square launched the trading of Bitcoin (BTC) on its “Cash App” at the beginning of this year. In the first four months of 2018, the app traded $34.1 million in BTC.

BitLisence is regarded as one of the hardest state virtual currency licenses to obtain and due to this, puts Square far ahead of its rival Venmo.

>> ItBit the First Regulated Crypto Exchange in the U.S

Cash App on the Rise

Since the beginning of 2016, Square Cash app downloads has averaged 128 percent year-over-year growth each month. Venmo only has 74 percent growth, according to Nomura Instinet.

Dan Dolev, Nomura Instinet analyst, told CNBC:

“That was one of the missing pieces in their [Square’s] puzzle. They had approval in most states, but New York was by far the biggest one where you couldn’t trade bitcoin.”

Dolev proceeded by saying that this announcement now gives individuals another excuse to download the app. Shares of Square have gone up 88 percent this year, and spiked yesterday.

Back in December of 2017, Square announced that it had 7 million active users on its Cash app. It would be interesting to see how much the downloads have grown since the beginning of the year, especially after this announcement today.

Featured Image: GoBank

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Freedom of the Press Foundation Accepts Cryptocurrency Donations

Freedom of the Press Foundation accepts cryptocurrency donationsFreedom of the Press Foundation accepts cryptocurrency donations

As of this Monday, June 18, 2018, the Freedom of the Press Foundation accepts cryptocurrency donations. But what tokens is it accepting?

Freedom of the Press Foundation Accepts Cryptocurrency Donations

The non-profit helps journalists to report on issues such as the “mismanagement, corruption, and law-breaking in government.” The foundation has announced that it is accepting Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Zcash (ZEC).

The foundation hopes to add more cryptocurrencies in the future, but currently, donations can be made to the digital wallets that have been added to the Freedom of the Press Foundation website.

According to the official release, the Freedom of the Press Foundation believes that “decentralized technology has great potential to advance the ability of individuals to resist surveillance and censorship.”

Although the announcement was only just made on Monday, one blockchain company, called Mainframe, has already donated 1,000 ETH to the non-profit foundation, which is approximately $500,000 USD, at the current market value.

In regards to the donation, the Freedom of the Press Foundation has said:

“We are deeply grateful Mainframe has made this critical donation to help Freedom of the Press Foundation protect journalists and whistleblowers, and are excited Mainframe, through their technology, shares our commitment to protecting privacy and freedom online.”

Donations will help to support the foundation’s projects to advance press freedom, including their SecureDrop whistleblower submission platform.

The Freedom of the Press Foundation can be added to a list of non-profits that have begun to accept cryptocurrency donations, including the Red Cross, the Water Project, and even the Ellen Degeneres Wildlife Foundation (where actor Ashton Kutcher donated nearly $4 million worth of Ripple’s XRP to in May).

>> Ethereum (ETH): Casper and Sharding Will Most Likely be Released Simultaneously

The acceptance of cryptocurrencies as a form of donation could be attributed to its growth in popularity. Either way, foundations like the Freedom of the Press Foundation are now opening their doors to a different type of donation that will still help to support them.

Do you think this could lead to other companies or businesses accepting cryptocurrencies?

Featured Image: DepositPhotos/AntonMatyukha

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Walmart Creating a Bitcoin-Powered Electrical Grid

Walmart creating a Bitcoin-powered electrical gridWalmart creating a Bitcoin-powered electrical grid

Walmart Creating a Bitcoin-Powered Electrical Grid – In many ways, blockchain technology is going to provide the world with a lot of good. However, the technology does have a couple of downsides. While there is an increasing concern over the energy consumption of blockchain, companies around the world are trying to reduce this problem’s severity. 

The latest company to venture into solving this issue is retail behemoth Walmart.

Walmart Creating a Bitcoin-Powered Electrical Grid 

On Thursday, word broke that Walmart had won a patent for the development of a Bitcoin-powered electrical grid. Now, this isn’t brand new information; Walmart actually filed the patent back in December of last year. However, now is the perfect time to have found out the company won the patent, considering crypto energy consumption has become a popular topic of choice in the past couple of months. 

So, what does Walmart creating a Bitcoin-powered electrical grid even mean? Well, the system is thought to help companies better manage their energy consumption. It will also help companies regulate demand on an electrical grid. How? Well, according to the patent application published by USPTO and CoinTelegraph, they will do so by using a publicly distributed transaction ledger. 

Simple Terms

So, a household has numerous appliances. Each appliance consumes certain amounts of electricity. However, sometimes, one of these appliances will consume more power than it should. This is where the Walmart patent design enters the picture. Walmart is developing a Bitcoin-powered electric grid so energy can be distributed among household appliances accurately. 

According to the Walmart patent, both households and companies are eligible to use a blockchain-based network. The blockchain will then record each transaction made by an appliance. Homeowners can then look at the network, and see which of their appliances are using too much energy.

>>County in Montana Delays Decision to Suspend Bitcoin Mining Operations

Crypto Energy Consumption 

It’s worth mentioning that Walmart is not the first company to design a system like this. In fact, Power Ledger, an Australian-based startup, is currently building a platform that allows a person to purchase and sell solar electricity. What makes this interesting is that you can do this in real-time.

Moreover, there are a number of countries dealing with the issues centering around crypto energy consumption. Some have even halted all crypto mining projects, due to too much energy being used. 

The Takeaway

What do you think about Walmart creating a Bitcoin-powered electrical grid? Yay or nay?

Featured Image: Twitter

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@media (max-width: 590px) {
.crec-ad {
width: 100%;
}

.crec-ad:last-child {
width: 100%;
padding-right: 4px;
}

.crec-header h1 {
padding-left:20px;
}

.crec-container {
padding-left:20px;
padding-right:20px;
}
}
]]>