A new platform based on blockchain is hoping to stop the surge electricity bills surging with an innovative model. According to Bittwatt, the design of a “simple, sustainable and scalable system” which eliminates imbalances between supply and demand gives the perfect answer to this problem.
The company is currently creating a blockchain-based marketplace which shares the consumption data in real-time. Along with its “matchmaking platform”, it allows buyers and sellers to trade energy based on their requirements.
In other words, Bittwatt creates an ecosystem that means power plants can be called upon to increase their output levels at the times of highest demand. Similarly, the consumers with unused electricity would be able to sell it during the peak periods and therefore reduce pressure on the grid.
Thanks to the demand-response mechanisms, the existing energy resources are used to their maximum potential. This exceeds the requirements of end users. Currently, the company says that pressure is being put on electricity grids around the globe. This is due to the production levels that cannot be adjusted in order to reflect the demand. Bittwatt’s ecosystem is the ideal solution that is practical (in times when costs are soaring) and one that precisely measures and transfers electricity.
Bittwatt is confident that they have a competitive advantage over other platforms for a number of reasons. The biggest one is the fact that they already have a “substantial” consumer base and a potential to create jobs. Plus, third-party applications are supported on the platform and there is no regulatory change needed before it can be launched and embraced by the industry.
The main people behind this company already formed relationships with several companies on the Balkans – the Macedonia-based Future Energy, Energy Market in Bulgaria and Romanian’s Eva Energy. All of these companies already achieve millions of dollars in turnover per year.
Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System
“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”According to the filing, content creators would keep the ownership of their data on the "mapping" platform:
“However, instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data. What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”This is just one more patent application in the series that were submitted by companies such as Xerox, American Express, IBM and others - and a new milestone for AT&T overlooking its expansion in the field of blockchain.
Binance Labs Introduces Us To The ‘First Batch’ Of (Final) Blockchain Projects
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
LinkedIn’s Largest Growing Job Sector Is Blockchain Development
“It’s no surprise that we’re seeing an explosion of machine learning roles and continuing growth of data science roles. In fact, we started to see glimmers of this in last year’s report; however, both fields are starting to see more specialized roles emerge. It also may not shock you that Blockchain Developer is topping the list following this year’s surge in interest around blockchain and cryptocurrency.”The great news for all of the people interested in a career in this sector is that there are plenty of universities now that adopt blockchain-related courses which help to boost the blockchain expertise in the following years.
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- Telecom Giant AT&T Interested In A Blockchain-Based Social Media ‘Mapping’ System
- Binance Labs Introduces Us To The ‘First Batch’ Of (Final) Blockchain Projects
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