According to a press release, the Japanese firm, Fujitsu has successfully developed and tested a blockchain based system that will improve electricity surplus management. Fujitsu is one of Japan biggest information and communication technology company.
“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,” the press release reads.
Through its partnership with ENERES, a Japanese power distribution company, Fujitsu applied blockchain technology to increase the success rate of power sharing. The whole procedure was conducted using a method called Demand Response(DR). Furthermore, through an agreement between utility companies and consumers, Demand Response will anticipate periods of peak demand. Hereby ensuring that surplus power is available to those who need it.
Fujitsu aims to improve the Demand Response mechanism, as the current technology render it inefficient.
According to a report, the trial yielded “an approximately 40% improvement to the DR success rate.”
Prior to this project, Fujitsu had already been involved in blockchain technology. Last year Fujitsu created a blockchain-based reward program where retail merchants could convert their loyalty points into tokens.
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