Epazz reported operational income of over $628,000 unaudited for 2017 & revenue of $474,145 unaudited, for the 1st quarter of 2018
CHICAGO, IL, Aug. 15, 2018 (GLOBE NEWSWIRE) — Epazz, Inc. (OTC: EPAZ), a leading provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced that the company 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 facilities to save on the energy consumption in data centers used to mine Bitcoin. EnergyVIEW is an important automation component of integrated plant management and control systems.
EnergyVIEW provides real-time energy consumption data for plant managers. This same technology can be used for data centers that mine Bitcoin and other complex computing activities, such as high frequency trading. Data centers demand an increasing use of energy, similar to water and wastewater facilities. EnergyVIEW technology can provide a way to decrease the energy cost for data centers.
According to Forbes, “Bitcoin’s current estimated annual electricity consumption is 61.4 TWh, which is also equivalent to 1.5% of the electricity consumed in the United States.” Additionally, Joule’s new study estimates that mining for Bitcoin consumes at least 2.6 GW of power, equivalent to what Ireland consumes in electricity yearly. This figure could rise to 7.7 GW in early 2019, which would account for close to half a percent of the world’s electricity consumption. According to the Crescent Electric Supply Company, the estimated electricity can “cost between $3,224 to $9,000 to mine a single Bitcoin.”
The company is taking the technology from EnergyVIEW and adopting it and enhancing it for special use in Bitcoin mining to reduce the cost of energy consumption. From the filed patent, the blockchain energy consumption management technology will monitor the energy used in the data center and provide users with information they need to analyze the energy usage. Then, the data center can take steps toward better energy usage to increase efficiency and reduce energy costs. Once the technology is converted for this growing multibillion-dollar market, the company will begin to market the solution for an annual license fee.
Some of the features in development for the Bitcoin data center include tracking historical data. The current usage is helpful, but historical data can give you a larger picture of your energy use. The data center usually has peak demand times and tracking these times provides an opportunity to reduce energy costs. Energy theft is a serious problem for many shared data centers. The power meter monitors energy use patterns and changes in the patterns. 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. We believe that Bitcoin data centers are a major opportunity to apply our technology,” said Shaun Passley, Ph.D., CEO of Epazz, Inc.
About Epazz, Inc. (www.epazz.com)
Epazz, Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions and the public sector. Epazz BoxesOS™ v3.0 is the complete business web-based software package for small- to mid-size businesses, Fortune 500 enterprises, government agencies and higher-education institutions. BoxesOS provides many of the web-based applications that organizations would otherwise need to purchase separately. Epazz products include DeskFlex™ (room scheduling software) and AutoHire™ (an applicant tracking system).
This is the “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward-looking statements such as “may,” “expect,” “intend,” “estimate,” “anticipate,” “believe” and “continue” (or the negative thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz, Inc.’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the company’s operations, results of operations and risks associated with the company and its operations.
CONTACT: CONTACT: For more information, please contact Investor Relations [email protected] (312) 955-8161 www.epazz.com