Japan’s Energy Giant Eyes Blockchain As Future

The whole world is rapidly coming to decentralized solution by adapting blockchian solutions. Another such example is investment of Tokyo Electric Power company (TEPCO) into UK-based blockchain firm Electron. This step is also strengthening the efforts of the energy sector to shift from centralized structures to decentralized systems.

TEPCO is Japan’s biggest energy provider which serves millions of homes.The company has its business affiliations in 8 other countries also. Talking about the news of investment, TEPCO claimed that both companies will work to convert energy transactions from today’s centralized infrastructure to decentralized blockchain platform.

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Electron has already worked on many projects to upgrade the old age energy industry’s infrastructure for major cost savings. Electron had made 53 million metering points 20 times faster than current switching rates by smart meter technology after employing Ethereum blockchain. These stats are definitely worth of any big energy company to implement the same system in order to gain better results regarding energy savings.