Fujitsu uses blockchain technology to create new energy exchange system for electricity consumers

By Laura Mullan
Fujitsu Limited and Fujitsu Laboratorieshave used blockchain to create a new system whereby consumers can trade electricity during energy shortages and...

Fujitsu Limited and Fujitsu Laboratories have used blockchain to create a new system whereby consumers can trade electricity during energy shortages and surpluses.

The Japanese company says the system will allow electricity consumers to efficiently exchange any energy surpluses they may have through their own electricity generation or power savings.

Working alongside Japanese energy firm ENERES Co., Fujitsu has already used the system in a simulation.


Fujitsu says that the technology will improve the success rate of demand resource (DR) schemes whereby utilities and consumers work together to control the amount of electricity used during periods of peak demand and receive incentives in return.

This will help to reduce energy consumption and contribute to a more stable electricity supply.

As the system is built on blockchain technology, Fujitsu says it will also guarantee transparency by recording the exchanges.

Fujitsu said that improving the DR success rate will encourage more people to take part in the schemes and will increase the use of renewable energy. 

"In order to realize a carbon-free society, it is important to increase the success rate of DR, which indicates the ratio of consumers who are compensated for achieving their power savings targets," the firm said in a statement.

"It is also essential to secure an investment effect when consumers have joined the DR scheme and to increase the number of participants."


Featured Articles

Google Gemma: An AI Model Small Enough to Run on a Laptop

Tech giant Google, with Google DeepMind, has launched its latest AI model Gemma which it says achieves best-in-class performance for its size

Why Tech Leaders Should Attend Sustainability LIVE: Net Zero

Sustainability LIVE: Net Zero offers technology leaders the opportunity to gain invaluable insights and contribute to collective sustainability efforts

OpenText Report: IT at Forefront of Sustainability Efforts

OpenText reveals companies are embracing sustainability in IT, but are in the early stages - with proper tools and expertise still a barrier

‘Magnificent Seven’ Tech Companies Driving Forward With AI

AI & Machine Learning

Samsung: From Semiconductors to Latest AI Developments

IT Procurement

COMING SOON: Top 100 Women in Technology 2024

Digital Transformation