Tokyo, May 10 - Tokyo Electric Power Company Holdings, Inc. announced today that it has joined forces with Centrica plc, Elia, Engie, Royal Dutch Shell plc, Sempra Energy, SP Group, Statoil ASA, Stedin, and TWL (Technical Works Ludwigshafen AG) to support the Energy Web Foundation (EWF), a non-profit organization whose mission is to accelerate the commercial deployment of blockchain technology in the energy sector.
Blockchain technology can be used to reduce the cost of utility bills. It also has the potential to play a game-changing role in the energy sector by allowing millions of energy devices to transact with each other.
Distributed energy resources (DERs) such as solar, wind, and electric vehicles are a growing trend in Japan as well as the rest of the world. Blockchain technology has the potential to play a significant and critical role in the transition to a more secure, resilient, cost-effective, and low-carbon distributed energy paradigm, and joining EWF will help to offer new and improved services to TEPCO customers.
More information on EWF can be found at: