Software Technology for “Autonomous peer to peer energy networks operating on a Blockchain”

Blockchain Fintech – Sampath Dechu, Ramachandra Kota, Pratyush Kumar, International Business Machines Corp

Abstract for “Autonomous peer to peer energy networks operating on a Blockchain”

A blockchain configuration can be used to store an energy optimization procedure’s distributed ledger. One method of operation is to measure energy usage from network devices via meter devices. Then log the energy metrics and any potential changes in the distributed ledger and store the distributed ledger within a block of blockchain.

Background for “Autonomous peer to peer energy networks operating on a Blockchain”

A blockchain configuration makes it possible to audit third-party information that has been logged with blockchain transactions. It is not enough to have financial information. You also need to be able to use the blockchain efficiently to store information about products and services that are related to the transaction.

One example embodiment could include a method that includes at least one of measuring energy parameters associated with network devices using meter devices. The method then identifies one or more possible changes to the network’s energy usage based on these energy metrics. Logging the energy metrics and any potential changes in a distributed leadger and storing it in a block of blockchain.

“Another example embodiment could include a system consisting at least one of one meter devices that measure energy metrics for network devices operating on a same network. The network devices then identify any potential changes in energy usage of the network using the energy metrics. Energy metrics and potential changes are stored in a distributed ledger, and the distributed ledger is stored within a block of a blockchain.

“Another example embodiment could include instructions that cause a processor to perform at minimum one of the following: logging energy metrics and any potential changes in a distributed leger, and storing this distributed ledger in an blockchain block.

It will be clear that the components of the present invention, as shown in the figures, can be placed in many different ways. The following description of the various embodiments of at most one method, apparatus, or system as illustrated in the attached figures is not intended as limiting the scope of the claimed application. It is only representative of some embodiments.

“The instant features and structures or characteristics described in this specification can be combined in any way that suits the purposes of one or more embodiments. The usage of phrases like “example embodiments”, “some embodiments”, or similar language throughout this specification indicates that an embodiment could include a specific feature, structure, or characteristic related to the embodiment. The phrases “example embodiments”, “in some embodiments?”, “in other embodiments?”, or any other similar language throughout this specification don’t necessarily refer to the same group. Furthermore, the features, structures, and characteristics described in this specification may be combined in any way that suits the needs of one or more embodiments.

“In addition, the term’message’ may be used in the description of embodiments. While the term?message? may have been used to describe embodiments, the application can be applied to any type of network data such as packet, frame, or datagram. The term “message” can also be used. The term “message” can also refer to packet, frame, or datagram. While certain types of signals and messages may be shown in certain embodiments, they are not limited by a particular type of message and the application does not limit itself to that type of signaling.

“Example embodiments show an application or software procedure that identifies the current network energy use on a blockchain. It then determines the optimal allocation of energy resources based on known network configurations, attributes, energy usage, and network capacity. A meter device can measure and log the energy used by network devices as they communicate with each other. These transactions can be securely stored on the blockchain and made available to interested parties via reliable, secure and well-established data. One of the many types of data that can easily be retrieved from a trusted blockchain information source is energy usage. A “beast”? A?beast? (blockchain-enabled automated smart meter technology) device can be implemented as a network, interconnected via communication networks, and integrated into the energy consuming or generating devices.

“FIG. 1A illustrates a conventional approach 10 to managing energy consumption/distribution in centralized energy markets. Referring to FIG. FIG. 1A shows that the central energy markets are composed of a regulator, a supplier, and a consumer. The consumer is responsible to place a demand bid 11 and consume energy 12. Payments are also made 13. Based on information such as supply bids 31, the regulator can match bids to create contracts 21. To compute imbalances or penalties 22 and oversee payments 23, the supply energy 32 and 33 can be used.

“Example embodiments suggest a system, device and non-transitory computer-readable medium, and a method for autonomous peer to peer energy networks. These enable a set consumers or prosumers (individuals who buy equipment suitable for professional use, or are involved in designing, manufacturing, or developing a product or services) to establish and run a decentralized market for trading electricity. The system could include a network that uses blockchain-enabled autonomous smart meters technology (beast), hereinafter called?beast? Devices are interconnected via electrical and communication networks and interfacing with energy-consuming and generating equipment. Blockchain technology is used by the beast devices to place bids, create contracts and log energy measurements. They also compute imbalances and settle settlements and validate payments. This creates a decentralized, tamper-resistant mechanism that can replace centralized regulatory authorities in today’s energy markets. To optimize trading strategies, the beast devices can access a distributed ledger that provides energy-specific analysis operations.

“FIG. “FIG. The network includes several network nodes 122 to 124, 126, 127 and 128, which could be many types of computing devices that are connected over the network. It may also be an independent peer-to-peer network for energy monitoring. The network uses energy meter devices (111 and 113) to monitor the energy consumption of nodes, communicate between them, and access data servers. Depending on the size and number of nodes in the network, the number of metering devices and network nodes may vary. To store and process transactions, a blockchain network configuration 130 can be used. Blockchain transactions can include network usage data, audit network performance metrics and energy usage data.

“The meters 111 or 113 could be agent modules stored in nodes, or they may be standalone smart meters that are easy to set up and install for energy usage metrics. The devices 111, 113 may be interconnected via energy and/or communications networks. They can also interface with energy-using devices such as nodes and energy-specific devices. Blockchain information storage and retrieval functions may be used by network devices to perform one or several of the following: identify energy requirements, create bids for contracts, create contracts, log information, and so on. Other network devices, such as meter devices, can identify energy leakages on a network and compute energy imbalances. They also determine settlements and validate payments. These calculations can be used to calculate future energy consumption. The network devices can access a distributed ledger that is stored on the blockchain to perform energy-specific analysis operations. This helps with energy trading strategies. These meters can be used for decentralized energy forecasting, based on assumptions about the supply and use of energy on the network. Each meter device can log information about a predetermined amount of network nodes (e.g. 1 meter for 10 nodes). Logs are stored in a distributed ledger. Data can be accessed by accessing ledger data in blockchain. A designated energy optimizer 131 can calculate reputation scores. This could be a preprogrammed module, a device, or any other designated resource that is capable of calculating such scores, energy requirements, and/or requirements. The blockchain stores both the actual energy transacted and the bids. Any device on the network can calculate reputation scores for other devices.

According to one example of operation, an autonomous peer to peer energy network could enable a set entities to establish and operate a decentralized energy market by placing bids and establishing contracts, metering energy transfer and settling payments. One example is a network made up of beast devices that can be used to use the blockchain to verify decentralized transactions. These devices could be used to update energy credits based upon an external financial system, create blockchain transactions and generate bids for certain entities’ energy demand/supply. They also create contracts and pricing. Blockchain transactions can be created as open bids that satisfy contractual terms. These devices can measure bi-directional energy flow to/from certain entities, and create blockchain transactions as energy flow logs based upon the network to calculate balance payments. Blockchain transactions can also be used to create energy credits, verify any open transactions, and add them to the distributed ledger. This method can provide information on predicted demand and supply, prices in bids and the estimated reputation of other entities. It analyzes the distributed ledger of certain entities over a time period or for specific devices, as well as their energy needs.

The interfaces may contain one or more electrical sensors, a processor and a memory. Other functional features include the ability to measure power/energy, create blocks and validate them using cryptography. They can also compute bids, imbalances, penalties, and analyze the distributed leadger to support bidding. Interfaces can be used to interface with user devices in order to collect requirements and preferences, to interfacing to external financial systems to settle payments, to maintain energy credits, to validate open blocks using cryptography, to compute bids, imbalances and penalties, and to interfacing to consumption entities (i.e. smart homes, generators and solar panels) to forecast supply and demand and interfacing to other beast devices for Blockchain transactions.

“FIG. 1C shows the enhanced functionality of the supplier and consumer for energy bids, according to examples. Referring to FIG. Referring to FIG. Bid blocks 162 can be used to store a demand bid 152 or supply bid 172. The contract blocks 162 and 164 can be used to match bids154, create a contract 174, and store relevant information. To identify imbalances or penalties, the energy supply 176 can be measured and the consumption 156 can also be measured in an ongoing process 166. The settlement blocks168 can be used to identify the required payments and notify both the consumer and the supplier to make payment 159 and 179. To track payment information, the payment blocks 169 can be used. To update the reputation score 181 or 183 of either party, forensic information could be used. Such information can be stored in the blockchain user profiles and used in subsequent bidding support examples 182 or 184.

“FIG. 2. illustrates an example of a system diagram for signaling and communication between entities on a network, according to an example embodiment. Referring to FIG. FIG. 2 shows that the system 200 could include a Blockchain Server 220. This device can store a blockchain or log transactions on the blockchain. Configuration 210 includes a meter module. This may include any number of meters units, devices, agents or other devices that can identify energy usage and energy needs 222 of nodes. These findings can be recorded and stored 224 on the blockchain server 220. These metrics could include information about energy usage for specific devices over time or other metrics. 226 The metrics are recorded and sent 228 to the energy optimizer module 228 so that predictions, forecasts, and other operations can all be made to ensure the optimal energy change for the network devices. The optimizer module 230 processes the metrics data and can access, update, and even modify bids, settlements, payments or credits. 234, to justify an energy schedule or a new contract that may be more efficient than the previous one. Any modifications that are deemed to be optimal are made 236 and the information is recorded in the blockchain 238 as an updated blockchain transaction 242. One embodiment stores the optimizer module 233, on a separate device, or on one or more of meter module 210 and the blockchain server 220.

“FIG. “FIG. Referring to FIG. Referring to FIG. Energy metrics can include energy consumption, energy payments, energy contracts and energy bids. A log of energy metrics can be included in the distributed ledger. This log may include one or more of creating an energetic analytic forecast, including energy bids, energy usage and energy reputation scores for the network devices. This method could also include placing a bid on energy for one or more potential changes based upon the energy metrics. This method could also include measuring bidirectional electricity usage over the network using one or more plurality of meters devices. The distributed ledger will store the bidirectional energy usage and process it to create balance payments or energy credits. This method can also be used to calculate a supply/demand of energy using the energy metrics and create a suggested price based on that calculated supply/demand of energy. The blockchain block can be stored on one or more network devices, the plurality meter devices, and other devices communicably coupled with the network devices or meters devices.

“Autonomous peer to peer energy networks could be used to allow a set consumers and/or prosumers establish and run a decentralized market to trade energy. The system could include a network that interconnects over electrical and communications networks and interfacing with energy-consuming and generating devices. Each beast device might be capable of performing one or more of the following: placing bids, generating bids to consumers/prosumers for energy demand/supply, pricing and contractual terms; creating bid blocks within a distributed leadger; matching bids to create contracts satisfying contractual terms; creating contract blocks inside a distributed leger; computing imbalances and penalties; creating settlement blocks within the distributed leadingger; providing payments through energy credit including updates and payments to consumers and/or professionals; computing reputations of consumers/prosumers, and based on historical contracts); measurement and settlement and block in the distributed -ledger).

“FIG. 4. illustrates the process of creating contracts using a beast device in accordance with example embodiments. Referring to FIG. Referring to FIG. 4, the process 400 comprises consumer and/or prosumer devices 03>, and 01> that attempt to reach a bidding agreement. The beast device (02) is designed to match bids, update blockchain bids and create contracts on the blockchain. An original bid for energy is deleted and an updated bid is created to reflect a change in energy requirements. The contract will now include 13 kWh based on supply and demand bids. For security reasons, all inputs and outputs may be encrypted.

“FIG. 5. This illustrates how to identify imbalances and penalties using a beast device, according to examples. Referring to FIG. Referring to FIG. The settlement term is structured in a similar way to a contract. It is also stored in the Blockchain with all the other information.

“Prosumers can deviate from their contract terms when an act occurs, such as a supplier producing less that the contracted amount. This information is stored in blocks of the distributed ledger, which can be accessed by the beast devices to calculate a reputation score for each prosumer and/or consumer. A reputation score (R) can be represented by, for example, the following R(T01=LogisticFunction:” for consumer and/or prosumer 01 at time T can be represented by the following R(T,01)=LogisticFunction:”

“( 1 T? ? t = 0 T ? 1 – b 1 – b? ( t) a? ? e ( T – T)?, nwhere b(t), is the energy offered by prosumer01 at time t, and a(t), is the energy supplied by prosumer01 at time t.”

“Consumers/or prosumers often forecast their energy supply/demand using historical patterns of consumption (e.g. HVAC load based upon temperature), production (e.g. solar output based irradiance etc. The beast device(s) can access this information by accessing the blocks of the distributed leadger. The beast device makes suggestions about the bid parameters based on historical prices and forecasted demand. The use of blockchain in a smart energy context allows for the provision of decentralized forecasting. The distributed ledger contains both consumption and supply logs. This allows users and devices to analyze and/or calculate the data in order to forecast demand and supply. Prices, which are stored in bid logs, also qualify for this. The bids as well as the actual energy transacted can be recorded in the contract and energy measurement blocks. This allows users and devices to analyze and/or calculate the reputation scores. If all parties agree on a particular reputation metric, related results can be linked with a settlement that can be distributed.”

“The network of beast device can interface with an external finance system with trusted communication connections (not shown). Consumer/prosumers can deposit or withdraw money at the financial system, which can then be converted to appropriate credits or debits of energy tokens. The financial system may have a limited interface to the network of beast device’s blockchain ledger to update energy tokens that have been credited or deducted to consumers/prosumers. This can be done by inserting a blockchain transaction that is encrypted with the financial system’s private key. The message format modifies a distributed variable that keeps the balance of all consumers/prosumers. The distributed ledger can then be attached to the blockchain transactions. The beast devices measure the energy flow to and from a prosumer at set intervals as determined by the prosumers (e.g. once every 15 minutes). The beast device secures the measurement by storing it in a protected memory area that cannot be accessed by other applications. Each of the measured values is recorded in a blockchain transaction. The message format contains a message format that modifies the distributed state for each consumer/prosumer. The distributed ledger is then appended with the blockchain transactions that have been validated by the beast devices.

“FIG. “FIG. Referring to FIG. FIG. 6 shows an example 600 of energy tokens that are identified using consumer/prosumer data. This information is then credited to the payment system in order to modify the payment requirements or update the ledger.

“FIG. “FIG. Referring to FIG. FIG. 7 shows an example 700 that includes an energy log for one particular user. These logs indicate changes in energy consumption since the last log attempt. The blockchain can store and update all transactions.

The above embodiments can be implemented in hardware, in computer programs executed by a processor or in firmware. A computer program can be embedded on a computer-readable medium such as a storage media. A computer program could, for example, reside in random access memory. ), flash memory or read-only memory (??ROM?). ), erasable, programmable read only memory (?EPROM) ), Electrically erasable, programmable read only memory (?EEPROM) Registers, registers, hard drive, a removable disc, a compact disk read only memory (?CDROM?),?EEPROM? ), or any other storage medium that is known to the art.

“An example storage medium could be connected to the processor so that the processor can read and write to the storage medium. Alternativly, the storage medium could be integrated with the processor. The application-specific integrated circuit (?ASIC?) may house the processor and storage medium. Alternativly, the storage medium and processor may be located as separate components. FIG. FIG. 8 shows an example network element 800 that could be used to represent any of the components above.

“As illustrated at FIG. “8. A memory 810 or a processor 820 could be separate components of a network entity 800 and used to execute an operation or set of operations, as illustrated in FIG. The software code of the application can be written in a language that is understood by processor 820 and stored on a computer-readable medium such as a memory 810. A computer readable media may be non-transitory and contain tangible hardware components such as memory that can store software. A software module 830 could be another separate entity that forms part of the network entity 800. It may contain software instructions that can be executed by processor 820 to perform one or more functions. The network entity 800 may include the components mentioned above, as well as a transmitter-receiver pair that can receive and transmit communications signals (not illustrated).

“An exemplary embodiment of at most one of a system and method has been shown in the accompanying drawings and described in detail in the foregoing description. However, it is clear that the application is not limited by the disclosed embodiments. It is also capable of many rearrangements, modifications and substitutions as defined and claimed in the following claims. The system can perform the functions shown in the figures by any combination of one or more modules or components. It may also be implemented in a distributed architecture that includes a transmitter, receiver, or a pair of them. One or more modules may perform all or part the functionality of individual modules. The functionality described in this document can be performed at different times and with respect to various events, whether internal or external to the components or modules. Information can also be sent between modules using at least one of the following: the Internet, the Internet Protocol network, a voice network or an Internet Protocol network. A wireless device, wired device, and/or multiple protocols are all possible. The messages that are sent and received by any module may be sent directly or via one or more modules.

“A?system’ is something that anyone skilled in the art can appreciate. A?system’ could be described as a personal computer or server, a console or a console, a console or a personal digital assistant (PDA), cell phone, tablet computing device or smartphone, or any combination of these devices. The functions described above are referred to as being performed by a “system”. This is not meant to limit the scope or limitations of the present application, but it is intended to illustrate one of many possible embodiments. Methods, systems, and apparatuses described herein can be implemented in both localized and distributed forms compatible with computing technology.

“It is important to note that not all system features are described here in modules. This is in order to emphasize their independence in implementation. A module could be implemented in a hardware circuit that includes custom very large scale integration (VLSI), gate arrays, off the shelf semiconductors like logic chips, transistors, and other discrete components. You can also implement a module in programmable hardware devices like field programmable gate arrangements, programmable array logics, programmable logic units, and the like.

“A module can also be implemented in software to allow execution by different types of processors. A unit of executable code can, for example, contain one or more physical blocks or logical blocks that include computer instructions. These instructions may be organized in a number of ways, such as object, procedure, function. The executables of an identified unit of executable code do not have to be physically located together. They may contain different instructions that are stored in different locations and, when combined logically, form the module. Modules can also be stored on computer-readable media, such as a hard drive, flash device or random access memory (RAM), tape or any other medium that stores data.

A module of executable software could contain one or more instructions and can be distributed across multiple code segments, between different programs, or across multiple memory devices. Similar to operational data, it can be identified and illustrated in modules. It may also be organized into any type of data structure and in any form. Operational data can be collected in one data set or distributed across multiple locations, including different storage devices. They may also exist at least partially as electronic signals within a system or network.

It will be clear that components of the invention, as shown in the figures, can be placed and designed in many different ways. The detailed descriptions of the embodiments are not meant to limit the scope or claim of the application. They only represent a few embodiments of that application.

“One with ordinary skill in art will quickly understand that the steps described above can be performed in a different order and/or with hardware elements that are not disclosed. Although the preferred embodiments have been described, it is obvious to those skilled in the art that there are many modifications, variations and other constructions.

“Preferred embodiments of this application have been described. However, it is to understand that these embodiments are only illustrative and the scope is to be determined solely by the appended Claims when considered with all equivalents and modifications (e.g. protocols, hardware devices etc.). thereto.”

Summary for “Autonomous peer to peer energy networks operating on a Blockchain”

A blockchain configuration makes it possible to audit third-party information that has been logged with blockchain transactions. It is not enough to have financial information. You also need to be able to use the blockchain efficiently to store information about products and services that are related to the transaction.

One example embodiment could include a method that includes at least one of measuring energy parameters associated with network devices using meter devices. The method then identifies one or more possible changes to the network’s energy usage based on these energy metrics. Logging the energy metrics and any potential changes in a distributed leadger and storing it in a block of blockchain.

“Another example embodiment could include a system consisting at least one of one meter devices that measure energy metrics for network devices operating on a same network. The network devices then identify any potential changes in energy usage of the network using the energy metrics. Energy metrics and potential changes are stored in a distributed ledger, and the distributed ledger is stored within a block of a blockchain.

“Another example embodiment could include instructions that cause a processor to perform at minimum one of the following: logging energy metrics and any potential changes in a distributed leger, and storing this distributed ledger in an blockchain block.

It will be clear that the components of the present invention, as shown in the figures, can be placed in many different ways. The following description of the various embodiments of at most one method, apparatus, or system as illustrated in the attached figures is not intended as limiting the scope of the claimed application. It is only representative of some embodiments.

“The instant features and structures or characteristics described in this specification can be combined in any way that suits the purposes of one or more embodiments. The usage of phrases like “example embodiments”, “some embodiments”, or similar language throughout this specification indicates that an embodiment could include a specific feature, structure, or characteristic related to the embodiment. The phrases “example embodiments”, “in some embodiments?”, “in other embodiments?”, or any other similar language throughout this specification don’t necessarily refer to the same group. Furthermore, the features, structures, and characteristics described in this specification may be combined in any way that suits the needs of one or more embodiments.

“In addition, the term’message’ may be used in the description of embodiments. While the term?message? may have been used to describe embodiments, the application can be applied to any type of network data such as packet, frame, or datagram. The term “message” can also be used. The term “message” can also refer to packet, frame, or datagram. While certain types of signals and messages may be shown in certain embodiments, they are not limited by a particular type of message and the application does not limit itself to that type of signaling.

“Example embodiments show an application or software procedure that identifies the current network energy use on a blockchain. It then determines the optimal allocation of energy resources based on known network configurations, attributes, energy usage, and network capacity. A meter device can measure and log the energy used by network devices as they communicate with each other. These transactions can be securely stored on the blockchain and made available to interested parties via reliable, secure and well-established data. One of the many types of data that can easily be retrieved from a trusted blockchain information source is energy usage. A “beast”? A?beast? (blockchain-enabled automated smart meter technology) device can be implemented as a network, interconnected via communication networks, and integrated into the energy consuming or generating devices.

“FIG. 1A illustrates a conventional approach 10 to managing energy consumption/distribution in centralized energy markets. Referring to FIG. FIG. 1A shows that the central energy markets are composed of a regulator, a supplier, and a consumer. The consumer is responsible to place a demand bid 11 and consume energy 12. Payments are also made 13. Based on information such as supply bids 31, the regulator can match bids to create contracts 21. To compute imbalances or penalties 22 and oversee payments 23, the supply energy 32 and 33 can be used.

“Example embodiments suggest a system, device and non-transitory computer-readable medium, and a method for autonomous peer to peer energy networks. These enable a set consumers or prosumers (individuals who buy equipment suitable for professional use, or are involved in designing, manufacturing, or developing a product or services) to establish and run a decentralized market for trading electricity. The system could include a network that uses blockchain-enabled autonomous smart meters technology (beast), hereinafter called?beast? Devices are interconnected via electrical and communication networks and interfacing with energy-consuming and generating equipment. Blockchain technology is used by the beast devices to place bids, create contracts and log energy measurements. They also compute imbalances and settle settlements and validate payments. This creates a decentralized, tamper-resistant mechanism that can replace centralized regulatory authorities in today’s energy markets. To optimize trading strategies, the beast devices can access a distributed ledger that provides energy-specific analysis operations.

“FIG. “FIG. The network includes several network nodes 122 to 124, 126, 127 and 128, which could be many types of computing devices that are connected over the network. It may also be an independent peer-to-peer network for energy monitoring. The network uses energy meter devices (111 and 113) to monitor the energy consumption of nodes, communicate between them, and access data servers. Depending on the size and number of nodes in the network, the number of metering devices and network nodes may vary. To store and process transactions, a blockchain network configuration 130 can be used. Blockchain transactions can include network usage data, audit network performance metrics and energy usage data.

“The meters 111 or 113 could be agent modules stored in nodes, or they may be standalone smart meters that are easy to set up and install for energy usage metrics. The devices 111, 113 may be interconnected via energy and/or communications networks. They can also interface with energy-using devices such as nodes and energy-specific devices. Blockchain information storage and retrieval functions may be used by network devices to perform one or several of the following: identify energy requirements, create bids for contracts, create contracts, log information, and so on. Other network devices, such as meter devices, can identify energy leakages on a network and compute energy imbalances. They also determine settlements and validate payments. These calculations can be used to calculate future energy consumption. The network devices can access a distributed ledger that is stored on the blockchain to perform energy-specific analysis operations. This helps with energy trading strategies. These meters can be used for decentralized energy forecasting, based on assumptions about the supply and use of energy on the network. Each meter device can log information about a predetermined amount of network nodes (e.g. 1 meter for 10 nodes). Logs are stored in a distributed ledger. Data can be accessed by accessing ledger data in blockchain. A designated energy optimizer 131 can calculate reputation scores. This could be a preprogrammed module, a device, or any other designated resource that is capable of calculating such scores, energy requirements, and/or requirements. The blockchain stores both the actual energy transacted and the bids. Any device on the network can calculate reputation scores for other devices.

According to one example of operation, an autonomous peer to peer energy network could enable a set entities to establish and operate a decentralized energy market by placing bids and establishing contracts, metering energy transfer and settling payments. One example is a network made up of beast devices that can be used to use the blockchain to verify decentralized transactions. These devices could be used to update energy credits based upon an external financial system, create blockchain transactions and generate bids for certain entities’ energy demand/supply. They also create contracts and pricing. Blockchain transactions can be created as open bids that satisfy contractual terms. These devices can measure bi-directional energy flow to/from certain entities, and create blockchain transactions as energy flow logs based upon the network to calculate balance payments. Blockchain transactions can also be used to create energy credits, verify any open transactions, and add them to the distributed ledger. This method can provide information on predicted demand and supply, prices in bids and the estimated reputation of other entities. It analyzes the distributed ledger of certain entities over a time period or for specific devices, as well as their energy needs.

The interfaces may contain one or more electrical sensors, a processor and a memory. Other functional features include the ability to measure power/energy, create blocks and validate them using cryptography. They can also compute bids, imbalances, penalties, and analyze the distributed leadger to support bidding. Interfaces can be used to interface with user devices in order to collect requirements and preferences, to interfacing to external financial systems to settle payments, to maintain energy credits, to validate open blocks using cryptography, to compute bids, imbalances and penalties, and to interfacing to consumption entities (i.e. smart homes, generators and solar panels) to forecast supply and demand and interfacing to other beast devices for Blockchain transactions.

“FIG. 1C shows the enhanced functionality of the supplier and consumer for energy bids, according to examples. Referring to FIG. Referring to FIG. Bid blocks 162 can be used to store a demand bid 152 or supply bid 172. The contract blocks 162 and 164 can be used to match bids154, create a contract 174, and store relevant information. To identify imbalances or penalties, the energy supply 176 can be measured and the consumption 156 can also be measured in an ongoing process 166. The settlement blocks168 can be used to identify the required payments and notify both the consumer and the supplier to make payment 159 and 179. To track payment information, the payment blocks 169 can be used. To update the reputation score 181 or 183 of either party, forensic information could be used. Such information can be stored in the blockchain user profiles and used in subsequent bidding support examples 182 or 184.

“FIG. 2. illustrates an example of a system diagram for signaling and communication between entities on a network, according to an example embodiment. Referring to FIG. FIG. 2 shows that the system 200 could include a Blockchain Server 220. This device can store a blockchain or log transactions on the blockchain. Configuration 210 includes a meter module. This may include any number of meters units, devices, agents or other devices that can identify energy usage and energy needs 222 of nodes. These findings can be recorded and stored 224 on the blockchain server 220. These metrics could include information about energy usage for specific devices over time or other metrics. 226 The metrics are recorded and sent 228 to the energy optimizer module 228 so that predictions, forecasts, and other operations can all be made to ensure the optimal energy change for the network devices. The optimizer module 230 processes the metrics data and can access, update, and even modify bids, settlements, payments or credits. 234, to justify an energy schedule or a new contract that may be more efficient than the previous one. Any modifications that are deemed to be optimal are made 236 and the information is recorded in the blockchain 238 as an updated blockchain transaction 242. One embodiment stores the optimizer module 233, on a separate device, or on one or more of meter module 210 and the blockchain server 220.

“FIG. “FIG. Referring to FIG. Referring to FIG. Energy metrics can include energy consumption, energy payments, energy contracts and energy bids. A log of energy metrics can be included in the distributed ledger. This log may include one or more of creating an energetic analytic forecast, including energy bids, energy usage and energy reputation scores for the network devices. This method could also include placing a bid on energy for one or more potential changes based upon the energy metrics. This method could also include measuring bidirectional electricity usage over the network using one or more plurality of meters devices. The distributed ledger will store the bidirectional energy usage and process it to create balance payments or energy credits. This method can also be used to calculate a supply/demand of energy using the energy metrics and create a suggested price based on that calculated supply/demand of energy. The blockchain block can be stored on one or more network devices, the plurality meter devices, and other devices communicably coupled with the network devices or meters devices.

“Autonomous peer to peer energy networks could be used to allow a set consumers and/or prosumers establish and run a decentralized market to trade energy. The system could include a network that interconnects over electrical and communications networks and interfacing with energy-consuming and generating devices. Each beast device might be capable of performing one or more of the following: placing bids, generating bids to consumers/prosumers for energy demand/supply, pricing and contractual terms; creating bid blocks within a distributed leadger; matching bids to create contracts satisfying contractual terms; creating contract blocks inside a distributed leger; computing imbalances and penalties; creating settlement blocks within the distributed leadingger; providing payments through energy credit including updates and payments to consumers and/or professionals; computing reputations of consumers/prosumers, and based on historical contracts); measurement and settlement and block in the distributed -ledger).

“FIG. 4. illustrates the process of creating contracts using a beast device in accordance with example embodiments. Referring to FIG. Referring to FIG. 4, the process 400 comprises consumer and/or prosumer devices 03>, and 01> that attempt to reach a bidding agreement. The beast device (02) is designed to match bids, update blockchain bids and create contracts on the blockchain. An original bid for energy is deleted and an updated bid is created to reflect a change in energy requirements. The contract will now include 13 kWh based on supply and demand bids. For security reasons, all inputs and outputs may be encrypted.

“FIG. 5. This illustrates how to identify imbalances and penalties using a beast device, according to examples. Referring to FIG. Referring to FIG. The settlement term is structured in a similar way to a contract. It is also stored in the Blockchain with all the other information.

“Prosumers can deviate from their contract terms when an act occurs, such as a supplier producing less that the contracted amount. This information is stored in blocks of the distributed ledger, which can be accessed by the beast devices to calculate a reputation score for each prosumer and/or consumer. A reputation score (R) can be represented by, for example, the following R(T01=LogisticFunction:” for consumer and/or prosumer 01 at time T can be represented by the following R(T,01)=LogisticFunction:”

“( 1 T? ? t = 0 T ? 1 – b 1 – b? ( t) a? ? e ( T – T)?, nwhere b(t), is the energy offered by prosumer01 at time t, and a(t), is the energy supplied by prosumer01 at time t.”

“Consumers/or prosumers often forecast their energy supply/demand using historical patterns of consumption (e.g. HVAC load based upon temperature), production (e.g. solar output based irradiance etc. The beast device(s) can access this information by accessing the blocks of the distributed leadger. The beast device makes suggestions about the bid parameters based on historical prices and forecasted demand. The use of blockchain in a smart energy context allows for the provision of decentralized forecasting. The distributed ledger contains both consumption and supply logs. This allows users and devices to analyze and/or calculate the data in order to forecast demand and supply. Prices, which are stored in bid logs, also qualify for this. The bids as well as the actual energy transacted can be recorded in the contract and energy measurement blocks. This allows users and devices to analyze and/or calculate the reputation scores. If all parties agree on a particular reputation metric, related results can be linked with a settlement that can be distributed.”

“The network of beast device can interface with an external finance system with trusted communication connections (not shown). Consumer/prosumers can deposit or withdraw money at the financial system, which can then be converted to appropriate credits or debits of energy tokens. The financial system may have a limited interface to the network of beast device’s blockchain ledger to update energy tokens that have been credited or deducted to consumers/prosumers. This can be done by inserting a blockchain transaction that is encrypted with the financial system’s private key. The message format modifies a distributed variable that keeps the balance of all consumers/prosumers. The distributed ledger can then be attached to the blockchain transactions. The beast devices measure the energy flow to and from a prosumer at set intervals as determined by the prosumers (e.g. once every 15 minutes). The beast device secures the measurement by storing it in a protected memory area that cannot be accessed by other applications. Each of the measured values is recorded in a blockchain transaction. The message format contains a message format that modifies the distributed state for each consumer/prosumer. The distributed ledger is then appended with the blockchain transactions that have been validated by the beast devices.

“FIG. “FIG. Referring to FIG. FIG. 6 shows an example 600 of energy tokens that are identified using consumer/prosumer data. This information is then credited to the payment system in order to modify the payment requirements or update the ledger.

“FIG. “FIG. Referring to FIG. FIG. 7 shows an example 700 that includes an energy log for one particular user. These logs indicate changes in energy consumption since the last log attempt. The blockchain can store and update all transactions.

The above embodiments can be implemented in hardware, in computer programs executed by a processor or in firmware. A computer program can be embedded on a computer-readable medium such as a storage media. A computer program could, for example, reside in random access memory. ), flash memory or read-only memory (??ROM?). ), erasable, programmable read only memory (?EPROM) ), Electrically erasable, programmable read only memory (?EEPROM) Registers, registers, hard drive, a removable disc, a compact disk read only memory (?CDROM?),?EEPROM? ), or any other storage medium that is known to the art.

“An example storage medium could be connected to the processor so that the processor can read and write to the storage medium. Alternativly, the storage medium could be integrated with the processor. The application-specific integrated circuit (?ASIC?) may house the processor and storage medium. Alternativly, the storage medium and processor may be located as separate components. FIG. FIG. 8 shows an example network element 800 that could be used to represent any of the components above.

“As illustrated at FIG. “8. A memory 810 or a processor 820 could be separate components of a network entity 800 and used to execute an operation or set of operations, as illustrated in FIG. The software code of the application can be written in a language that is understood by processor 820 and stored on a computer-readable medium such as a memory 810. A computer readable media may be non-transitory and contain tangible hardware components such as memory that can store software. A software module 830 could be another separate entity that forms part of the network entity 800. It may contain software instructions that can be executed by processor 820 to perform one or more functions. The network entity 800 may include the components mentioned above, as well as a transmitter-receiver pair that can receive and transmit communications signals (not illustrated).

“An exemplary embodiment of at most one of a system and method has been shown in the accompanying drawings and described in detail in the foregoing description. However, it is clear that the application is not limited by the disclosed embodiments. It is also capable of many rearrangements, modifications and substitutions as defined and claimed in the following claims. The system can perform the functions shown in the figures by any combination of one or more modules or components. It may also be implemented in a distributed architecture that includes a transmitter, receiver, or a pair of them. One or more modules may perform all or part the functionality of individual modules. The functionality described in this document can be performed at different times and with respect to various events, whether internal or external to the components or modules. Information can also be sent between modules using at least one of the following: the Internet, the Internet Protocol network, a voice network or an Internet Protocol network. A wireless device, wired device, and/or multiple protocols are all possible. The messages that are sent and received by any module may be sent directly or via one or more modules.

“A?system’ is something that anyone skilled in the art can appreciate. A?system’ could be described as a personal computer or server, a console or a console, a console or a personal digital assistant (PDA), cell phone, tablet computing device or smartphone, or any combination of these devices. The functions described above are referred to as being performed by a “system”. This is not meant to limit the scope or limitations of the present application, but it is intended to illustrate one of many possible embodiments. Methods, systems, and apparatuses described herein can be implemented in both localized and distributed forms compatible with computing technology.

“It is important to note that not all system features are described here in modules. This is in order to emphasize their independence in implementation. A module could be implemented in a hardware circuit that includes custom very large scale integration (VLSI), gate arrays, off the shelf semiconductors like logic chips, transistors, and other discrete components. You can also implement a module in programmable hardware devices like field programmable gate arrangements, programmable array logics, programmable logic units, and the like.

“A module can also be implemented in software to allow execution by different types of processors. A unit of executable code can, for example, contain one or more physical blocks or logical blocks that include computer instructions. These instructions may be organized in a number of ways, such as object, procedure, function. The executables of an identified unit of executable code do not have to be physically located together. They may contain different instructions that are stored in different locations and, when combined logically, form the module. Modules can also be stored on computer-readable media, such as a hard drive, flash device or random access memory (RAM), tape or any other medium that stores data.

A module of executable software could contain one or more instructions and can be distributed across multiple code segments, between different programs, or across multiple memory devices. Similar to operational data, it can be identified and illustrated in modules. It may also be organized into any type of data structure and in any form. Operational data can be collected in one data set or distributed across multiple locations, including different storage devices. They may also exist at least partially as electronic signals within a system or network.

It will be clear that components of the invention, as shown in the figures, can be placed and designed in many different ways. The detailed descriptions of the embodiments are not meant to limit the scope or claim of the application. They only represent a few embodiments of that application.

“One with ordinary skill in art will quickly understand that the steps described above can be performed in a different order and/or with hardware elements that are not disclosed. Although the preferred embodiments have been described, it is obvious to those skilled in the art that there are many modifications, variations and other constructions.

“Preferred embodiments of this application have been described. However, it is to understand that these embodiments are only illustrative and the scope is to be determined solely by the appended Claims when considered with all equivalents and modifications (e.g. protocols, hardware devices etc.). thereto.”

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