FUJITSU: BLOCKCHAIN HAS INCREASED POWER DISTRIBUTION EFFICIENCY BY 40%
Japanese IT giant Fujitsu has developed a blockchain-based system for the exchange of electricity between corporate consumers.
The aim of the project is to promote a more stable distribution of energy supply during peak periods. According to the company, the patented blockchain system was tested together with the energy company ENERES. The results showed that the innovation allows to increase the efficiency of power systems by 40%.
The on-demand energy distribution system stabilizes the supply and demand of electricity by reducing or redistributing energy at peak times and also pays dividends.
Fujitsu’s blockchain-based system is able to analyze available volumes of electricity from suppliers and compare them with the existing demand and distribute loads more efficiently. As stated in the company, this approach allows you to distribute electricity without loss.
Recall that this is not the only project of the company working on the blockchain. In October last year, Fujitsu also introduced an interbank settlement system, which is expected to significantly reduce the cost of small transactions.
Also, in June last year, the company launched a data storage system based on the blockchain, which can be used by retailers to tokenize traditional advertising tools, whether coupons or loyalty system with a reward.