Japanese IT giant Fujitsu has introduced a blockchain-based electricity exchange system facilitating a more stable energy supply of enterprise consumers at peak periods.
The new blockchain-based system calculates how much energy is available from sellers and match that with available buy orders in order to receive a faster response at peak times.
Fujitsu said it had tested the “patent-pending” blockchain system with support from electric power distribution company ENERES and achieved a roughly 40 percent improvement compared to an existing system called demand response (DR).
As a reminder, back in October, the firm developed an inter-bank settlement system using the tech in an attempt to achieve low-cost transfer of smaller transactions. Last June, the firm launched a blockchain-based data storage system that can be used by retail merchants to tokenize traditional promotional tools such as coupons and reward points.