Inner Mongolia Power Group Applies for Blockchain-Based Distributed Power Trading Patent: Enhancing Efficiency and Reducing Costs
Inner Mongolia Power Group Applies for Blockchain-Based Distributed Power Trading Patent: Enhancing Efficiency and Reducing CostsOn December 24, 2024, the State Intellectual Property Office of China revealed that Inner Mongolia Power (Group) Co., Ltd
Inner Mongolia Power Group Applies for Blockchain-Based Distributed Power Trading Patent: Enhancing Efficiency and Reducing Costs
On December 24, 2024, the State Intellectual Property Office of China revealed that Inner Mongolia Power (Group) Co., Ltd. Inner Mongolia Electric Power Economic and Technological Research Institute Branch has applied for a patent titled "A Blockchain-Based Distributed Power Trading Management Method, System, Equipment, and Medium," with publication number CN119168258A and an application date of August 2024. This patent application marks a significant step for Inner Mongolia Power Group in exploring the use of blockchain technology to revolutionize power trading models, offering new approaches for the future digital transformation of the power industry.
The core of this patent application lies in a blockchain-based distributed power trading management method, system, equipment, and medium. Traditional power trading models often involve multiple participants and complex processes, including power plants, grid companies, electricity users, and various intermediaries. This results in low transaction efficiency, high costs, information asymmetry, and regulatory difficulties. This patent application aims to effectively address these challenges through the application of blockchain technology.
The patent abstract details the method's steps: First, power trading broadcast information is generated based on power trading requests and broadcast to the blockchain network. This ensures all participants receive transaction information promptly, improving transparency and traceability. Second, the system matches power trading requests based on pre-set rules, generating power trading matching information and broadcasting it to the blockchain trading platform. This ensures fairness and efficiency.
Next, the system performs distributed authentication of successfully matched power transactions. The decentralized and tamper-proof nature of blockchain technology ensures the security and reliability of transactions, preventing single points of failure and manipulation. Only distributedly authenticated transactions are executed, guaranteeing legality and validity.
Finally, the system executes power transaction settlement based on the smart contract obtained from the blockchain trading platform. Smart contracts automatically execute settlement according to pre-set rules, eliminating manual intervention, significantly improving settlement efficiency, and reducing human error.
This blockchain-based distributed power trading management method comprehensively revolutionizes the power trading process, enabling refined management on the user side. It eliminates many intermediate links in traditional models, enabling direct peer-to-peer power trading, effectively reducing costs and improving efficiency.
Blockchain technology's decentralized, transparent, secure, and tamper-proof nature makes it ideal for building efficient, secure, and transparent power trading platforms. It effectively addresses trust issues, information asymmetry, and regulatory challenges.
Specifically, the patent's technical solution significantly improves transaction efficiency and reduces costs while enhancing security and transparency. Reducing hierarchical layers and intermediate links in the transaction system enables direct peer-to-peer trading, simplifying the process, shortening transaction times, and lowering costs.
Blockchain technology also enhances security and transparency. Distributed ledger technology ensures data integrity and immutability, preventing malicious alteration or loss. Transparent records facilitate regulatory oversight, ensuring fairness and justice.
This patent application provides a new technological pathway for the digital transformation of the power industry, laying the foundation for a more efficient, secure, transparent, and sustainable power trading system. It improves efficiency and security, promotes fair competition, and ultimately benefits consumers.
As blockchain technology matures and supporting policies improve, its application in the power industry will become more widespread. Inner Mongolia Power Group's innovation deserves industry attention and provides valuable experience for digital transformation.
This patent application signals a shift towards more digital, intelligent, and efficient power trading models. Blockchain-based distributed power trading will likely become mainstream, contributing to a cleaner, more efficient, and sustainable energy system. Inner Mongolia Power Group's exploration offers valuable insights for the entire industry.
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