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Mitsubishi And Tokyo Tech Create A Blockchain System For P2P Energy Trading

19 January 2021 17:50, UTC
Mitsubishi And Tokyo Tech Create A Blockchain System For P2P Energy Trading
By Anna Martynova

Mitsubishi Electric Corporation and Tokyo Tech announced on Sunday they are jointly developing an original blockchain that can optimize P2P energy trading. This technology promotes more efficient use of surplus renewable energy by creating a trading environment that is flexible in responding to general trading needs.

By April, the performance of the P2P energy trading system will be evaluated with a view to further optimizing the algorithm. According to the announcement, a distributed optimization algorithm, which differs from most blockchain technologies, will allow client computers to share their trade targets and data, and then optimally align buy and sell orders with minimal computation.

Blockchain-based digital energy platforms have been operating in other countries for some time now. For example, the Australian company Power Ledger offers blockchain-based solutions for transactive energy trading that include P2P energy trading and virtual power plants.

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