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Fujitsu Uses Blockchain Technoogy for Efficient Electricity Sharing

Fujitsu the world's 7th largest IT services provider and No.1 in Japan has just recently developed an application built on blockchain technology in an effort to tackle the inadequacies of power supply.

These inadequacies in supply of energy ranges from energy shortages to surpluses at the tailend which are the consumers being factories and retail stores.

This platform developed is tagged or called Demand Response (DR). In a trial of this new blockchain technology by Fujitsu, a partnership was made with ENERES, a local power distribution company that engages in the power supply-demand management and electricity wholesale trading businesses in Japan to boost the success rate of energy administration.

The primary goal of Demand Respons, DR. is to identify the period in which there is high demand by making readily available an overplus of power to those comsumers that are in need of it.

It was stated in the Fujitsu press release that “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 previous tech used for Demand Response, DR. has render it obsolete and less effective and blockkchain tech has helped improve its techniquecality, noting that the result has amounted to a 40% improvement in the success rate.

This isn’t Fjitsu first rodeo in the world of blockchain technology which in last year June launched a blockchain loyalty scheme for the retail sector and went ahead in October to roll out plans for nine Japanese bank as regarding settlement infrastructure. The company hopes that with this new improved platform of Demand Respone DR more comsumers will in turn sign up.

 

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