Recently, the same company Fujitsu signed a bond with ENERES, a local power distribution firm. In partnership, they used blockchain tech to enhance the success rates regarding power sharing. They entitled the administered via a process- Demand Response aka DR.
This was an agreement within utilities firms and customers; however, DR anticipates peak demand periods by making sure the availability of surplus power is provide to those in need. This ongoing technology showing involvement uses DR with an inefficient mechanism. According to Fujitsu, this will be something that blockchain will demonstrably help to improve.
Fujitsu has now devised a system in which electricity consumers can efficiently exchange among themselves the electricity surpluses they have produced through their own electricity generation or power savings. The result was an approximately 40% improvement to the DR success rate.
Meanwhile, the platform is expecting to better innovating the efficiency that will in return encourage more customers to sign up for DR.
However, This step by Fujitsu is not the initial venture within blockchain. Previously, it established a blockchain operating loyalty scheme for retail sector back in June 2018. Also this follows the plans to settle infrastructure relevantly for nine Japanese banks that was revealed back in October.