11/12/19 05:21 UTC-5

An energy company in Japan uses blockchain to improve performance

To create and track renewable energy certificates and trade in solar energy, Australia's Power Ledger leading blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
company decided to expand its trials with Japan’s second-largest energy company, Kansai Electric Power Company. Information was posted on powerledger.io.


The advanced Power Ledger technology in Japan has been proven

In the new agreement, the Kansai Electric Power Company will use the Power Ledger blockchain platform to create, track, trade and offer for the settlement of renewable energy certificates derived from rooftop solar systems.

Earlier, two companies conducted a trial tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
of P2P energy for additional energy in Osaka with automatic calculation using cryptocurrency.

Japan has already become the fifth largest consumer of electricity in the world in 2018. The country produced only 17.5 percent of its energy from renewable sources.

Clients of the Japanese company will be able to trade tokens among themselves, simply using the blockchain platform. The generated Power Ledger tokens will be stored in the central wallet of the company, as cryptocurrency news reports. 

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See also: "The Central Bank of Lithuania will issue collection coins on the blockchain"

#Japan #blockchain #renewableenergysources #cryptocurrency #PowerLedger

Editor: Daria Mukhina