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The Japanese information technology giant, Fujitsu, has developed a business-based blockchain-based power exchange system that aims to facilitate a more stable power supply during peak periods.
In announcing this new Wednesday, Fujitsu said it has tested the patent-pending blockchain system with the support of the ENERES energy distribution company and achieved an improvement of about 40% over a existing system called demand response.
DR enables electricity consumers to help balance energy demand and supply by reducing or shifting electricity consumption during peak periods and providing incentives. Fujitsu added that energy aggregators – in fact, energy intermediaries – are currently interacting with consumers of electricity on an individual basis to achieve energy saving goals.
The Fujitsu blockchain-based system, meanwhile, quickly calculates the amount of energy available from vendors and matches this with available purchase orders to receive a faster response at peak times. .
The company added that it had built a technology capable of responding to orders without wasting energy.
Fujitsu recently built several tools and systems based on blockchains. Back in October, the firm developed an interbank settlement system using technology to try to make a low-cost transfer of small transactions.
And, last June, the firm launched a blockchain-based data storage system that retailers can use to create traditional promotional tools such as coupons and loyalty points.
Fujitsu image via Shutterstock; Card provided by Fujitsu
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