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AI, Featured, Press Release, Technology

AI-Blockchain Prototype for Energy Consumption and Distribution Patterns

Both AI and Blockchain technology are making consistent waves worldwide. Real-world implementations are visible across different fields, with staggering success. The latest innovation comes in the form of an AI-integrated Blockchain prototype for observing energy distribution patterns. This current development will be a real game-changer capable of identifying and resolving electricity distribution issues faced by energy sales applications. 

The AI Inside

Renowned scientific organizations all over the world use AI. AI-powered architecture makes use of constant learning, improvement, and prediction. The methods analyze data and can perform efficient real-time action. Widespread implementation leads to a rise in AI’s popularity.

A state-of-the-art blockchain setup layered with AI components forms the backbone of this tech mechanism. Energy consumption patterns are drawn, read, and analyzed. The obtained results are vital for energy distribution and sales applications.

Also Read: Different Applications of AI

Similarity with Blockchain Finance

HashCash Chief and blockchain pioneer Raj Chowdhury explains, “The basic principles of blockchain in finance are suitably applicable to blockchain in energy. The difference lies in that the product, in this case, electricity must also be taken into account.”

Simply stated, energy sales across a decentralized network may function in a way similar to cryptocurrency-based financial transactions. The AI component plots the energy shortage in different consumer sectors. The data gathered is transferred to precise channels in the electric grid network(similar to nodes). Then, the electricity passes through these distinct channels. Thus, the AI component directs the pathway route in the electrical network.

Also Read: Understanding Blockchain Technology Better When You Aren’t Tech-Savvy

Energy Consumption & HashCash

“Also the transactions in these cases do not only involve values and information but also the delivery of electricity over dedicated network infrastructure as per the route specified by the AI component.” continued Chowdhury. 

The AI-powered blockchain prototype designed by HashCash aims to maximize energy production by using AI architecture to calculate the required output volume. 

A long-time advocate of blockchain adoption in various industrial situations, HashCash brings forth solutions to worldwide issues regularly. The company has an extensive portfolio of several blockchain innovations, including blockchain-powered working prototypes for Vaccine Passport, Eco Gold tokenization, and many more.  

Source: https://www.yahoo.com/now/hashcash-builds-ai-integrated-blockchain-070000895.html

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