On Monday four Japanese organizations announced research plans for pricing surplus solar power and a blockchain trading system for prosumers. The organizations are the University of Tokyo, Unisys Japan, Kansai Electric Power, and Mitsubishi UFJ Bank.
Because of the widespread use of solar power, the power supply system is evolving from conventional large-scale generation to self-sustained distributed power. Kansai Electric Power has a test facility for generating electricity with solar power equipment. They’re conducting simulated transactions using blockchain involving transmitting power to multiple power consumers homes.
In the research, Unisys will develop the system, and Kansai Electric will construct the demonstration power system. The University of Tokyo will evaluate the results, and Mitsubishi UFJ Bank is providing advice on blockchains for settling transactions.
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