The leader of the electric power industry of Japan company Kansai Electric Power Co. (KanDen) will participate in a joint research project on the possible use of the blockchain in a distributed power supply.
Along with KanDen to explore the possibility of electricity suppliers to sell through the blockchain, its excess will be Mitsubishi UFJ Bank, IT company Nihon Unisys and the University of Tokyo.
As noted by the company in a press release, because of the wide distribution of renewable energy sources such as solar or wind power, the existing system of electricity supply is changing in the direction of distributed type. There is a probability that in the future the electricity will be directly, without intermediaries to trade through a special platform, said the company.
In the framework of empirical research Nihon Unisys will create a demo blockchain system in the experimental center KanDen. It will allow you to determine the price of electricity and carry out a simulation of a transaction. The University of Tokyo will summarize and evaluate the results of the study. Mitsubishi UFJ Bank will provide advice on the use of the blockchain for payments and transactions.
Earlier, a similar pilot project was launched on the Tokyo energy company Eneres and startup Azai Laboratory in Fukushima. Consumers had the opportunity to sell surplus electricity generated by their power plants (solar or wind), directly to each other via a blockchain-based platform. In the development of blockchain systems that control power grids at the local level invested by German Siemens AG and the Australian company Vicinity Centres.