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Author Topic: [News] Japanís Popular Utility Trials Blockchain for Renewable Energy Credits Cryptokno  (Read 41 times)

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Offline Denial11

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Japanís second-largest energy utility is betting on blockchain to effectively enhance transactions on renewable energy. Kansai Electric Power Co Inc (KEPCO) announced that it was extending trials on its blockchain system for transacting renewable energy credit cards. The press release noted that the platform was developed by Australian technology firm Power Ledger.

Non-Fossil Fuel Value Certificates

Meanwhile, back in 2018, Japan held number five as the largest consumer of electricity. Interestingly, the country only produced 17.5% of renewable energy from its resources. Nevertheless, Japanís Ministry of Economy, Trade, and Industry decided in May this year; to continue selling non-fossil fuel value certificates (NFVs). Hence providing energy retailers with evidence that the certified energy portion was generated from a renewable energy source.