A blockchain-based electricity exchange system was developed by Fujitsu, a Japanese IT giant to facilitate electricity exchange between enterprise consumers, according to a press release published on Jan 29.
The announcement came on Wednesday wherein Fujitsu confirmed that it had tested the ‘patent-pending’ blockchain system. When they simulated the actual data of electricity consumption, they achieved a 40% improvement when compared to the existing system called Demand Response (DR). The system was developed in collaboration with ENERES Co., Ltd., an electric power distribution company.
How DR Works?
Demand Response works by helping the electricity consumers maintain a balance between demand and supply power either by reducing or shifting their electricity usage during the time of peak periods, and users are provided with incentives in return,
But DR is not a complete solution and needs improvements. This is where Fujitsu’s blockchain-based system comes to the rescue. It quickly calculates as to how much energy is available from sellers and match that with the corresponding available orders to ensure a faster response at peak times.
The press-release published:
“Fujitsu has now devised a system in which electricity consumers can efficiently exchange among themselves the electricity surpluses they have produced through their own electricity generation or power savings.”
Not The First To Make The Move
The company plans to achieve better efficiency which will also motivate the consumers to sign up for the new system. This is not the first move made by the Fujitsu in the blockchain industry. The firm also launched a data storage system based on blockchain which can be used by retail merchants. The solution will tokenize traditional promotional tools such as reward points and coupons.
It will be interesting to see how Fujitsu takes care of all these projects going forward.
Related article:
Spain is Investing on Blockchain To Encourage Renewable Energy Consumption
I am constantly browsing online for posts that can aid me. Thanks!
Fantastic site. Plenty of useful info here. I’m sending it to some buddies ans additionally sharing in delicious. And of course, thanks to your effort!
Very well presented. Every quote was awesome and thanks for sharing the content. Keep sharing and keep motivating others.
Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.
Really appreciate you sharing this blog post.Much thanks again. Really Cool.
Thanks for giving your ideas. I’d personally also like to convey that video games have been at any time evolving. Modern technology and inventions have aided create practical and fun games. These kinds of entertainment video games were not really sensible when the actual concept was being tried out. Just like other areas of technology, video games as well have had to advance as a result of many years. This is testimony on the fast development of video games.
One thing I’d really like to say is the fact that car insurance cancellation is a terrifying experience and if you are doing the suitable things like a driver you simply won’t get one. A lot of people do obtain the notice that they have been officially dropped by their own insurance company and many have to fight to get supplemental insurance following a cancellation. Inexpensive auto insurance rates tend to be hard to get following a cancellation. Knowing the main reasons with regard to auto insurance termination can help individuals prevent burning off one of the most vital privileges out there. Thanks for the strategies shared by your blog.
This is a topic close to my heart cheers, where are your contact details though?
Would you be thinking about exchanging hyperlinks?
Thank you for every other excellent post. The place else could anybody get that typeof information in such a perfect means of writing?I’ve a presentation next week, and I’m at the look for such info.