MINNA DENRYUKU obtained a patent for a blockchain-based power trading and traceability system
On July 2, MINNA DENRYUKU Co., Ltd. announced that it had obtained a patent for power trading and traceability using blockchain.
MINNA DENRYUKU is a blockchain-based proprietary power distribution platform “ENECTION 2.0”. MINNA DENRYUKU uses “ENECTION 2.0” to provide a service called “face-to-face power”. Offering. A service that sells electricity from “face-to-face power” users to the company. An article in Techcrunch reported that the company’s system uses Stellar’s blockchain.
According to the announcement, MINNA DENRYUKU has applied for three patents and has been granted two of them. Regarding the remaining one case, the patent examination will be completed and it will be awaiting setting registration.
The two patents granted to MINNA DENRYUKU are “Patent №6630425, Power Trade History Generation System” and “Patent №6675717, Power Trade History Generation System”. and the patent that has been granted to MINNA DENRYUKU is “Patent Application 2020–1771: Electric Power Transaction Support System”.
Intellectual property owned by MINNA DENRYUKU in relation to the patents are as follows.
・A method of recording power transactions between power sources and consumers by moving the blockchain token between wallets.
・A method of distributing power from multiple sources to multiple consumers.
・A way for consumers to pay a premium for the electricity they purchase from a particular power plant
・How to implement a PPA* that enables direct power trading between power sources and consumers.
*Power sales contracts between power generators and retail electricity providers.
Editor’s comment
In June, MINNA DENRYUKU Co., Ltd. announced that it will work on the “The Minnade Fair Charge Project”. This project aims to develop and promote batteries made from human rights and environmentally friendly materials.
This project aims to visualize the supply chain of cobalt, a rare metal that is the main raw material for lithium-ion batteries used in smartphones and other devices, using blockchain technology to develop and promote ethical lithium-ion batteries that are human rights and environmentally friendly.
ENECTION by Minna Denryoku Development, which is supposed to be applied to this rare metal traceability platform, was commercialized in December 2018 as an electricity traceability system.
The system tracks the history of electricity purchases, matching the amount of electricity generated and demanded individually every 30 minutes, which was previously an annual transaction and recording the results on the blockchain.
The system is designed to achieve traceability by replacing the kWh of electricity used with the token PTk to show where and how much electricity is distributed from the generator to the consumer.
(images:iStock/liuzishan・phochi)
