Epazz posted operating income of over $ 628,000 unaudited for 2017 and revenue of $ 474,145 unaudited for the first quarter of 2018
CHICAGO, IL, August 15, 2018 (GLOBE NEWSWIRE) – Epazz, Inc. (OTC: EPAZ), a leading provider of mobile app blockchain cryptocurrencies and cloud-based business software solutions, announced that the company has filed a provisional patent for blockchain energy consumption management technology for use in Bitcoin data centers. The company will use its EnergyVIEW solution in wastewater treatment plants to save on energy consumption in the data centers used to extract Bitcoin. EnergyVIEW is an important component of automation of integrated systems management and control systems.
EnergyVIEW provides real-time energy consumption data for plant managers. This same technology can be used for data centers that extract Bitcoin and other complex processing tasks, such as high-frequency trading. Data centers require an increasing use of energy, similar to water and waste water. EnergyVIEW technology can provide a way to reduce the cost of energy for data centers.
According to Forbes, "the estimated annual electricity consumption of Bitcoin is 61.4 TWh, which is also equivalent to 1.5% of the electricity consumed in the United States". Moreover, the new study by Joule estimates that the extraction of Bitcoin consumes at least 2.6 GW of power, equivalent to that which Ireland consumes in electricity every year. This figure could rise to 7.7 GW at the start of 2019, which would represent around half a percent of global electricity consumption. According to the Crescent Electric Supply Company, estimated electricity can "cost between $ 3,224 and $ 9,000 to extract a single Bitcoin."
The company is taking technology from EnergyVIEW and adopts it and improves it for the special use in Bitcoin mining to reduce the cost of energy consumption. From the registered patent, the blockchain energy consumption management technology will monitor the energy used in the data center and provide users with the information necessary to analyze the use of energy. Therefore, the data center can take measures to improve the use of energy to increase efficiency and reduce energy costs. Once the technology is converted to this growing multibillion-dollar market, the company will start commercializing the solution with an annual fee.
Some of the Bitcoin data center development features include monitoring of historical data. Current use is useful, but historical data can give you a bigger picture of your energy consumption. The data center usually has peak demand times and monitoring these times offers the opportunity to reduce energy costs. Energy theft is a serious problem for many shared data centers. The power meter monitors energy usage patterns and changes in models. The patent covers ways to detect theft and short-circuit it.
"There are many vertical markets that can use our EnergyVIEW solution to reduce energy costs, and we believe Bitcoin data centers are a great opportunity to apply our technology," said Shaun Passley, Ph.D., CEO by Epazz, Inc.
About Epazz, Inc. (www.epazz.com)
Epazz, Inc. is a leading cloud-based software company specializing in providing applications customized clouds to the corporate world, higher education institutions and the public sector. Epazz BoxesOS ™ v3.0 is the complete web-based software package for small and medium-sized businesses, Fortune 500 companies, government agencies and higher education institutions. BoxesOS offers many of the web-based applications that organizations would otherwise need to purchase separately. Epazz products include DeskFlex ™ (salt planning software) and AutoHire ™ (a request tracking system).
Epazz EQM, version 4, a new sound enterprise quality management system, food inspection software and control software to assist governments and compliance management businesses.
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