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Briefing
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- Energy Trading Platform – Singaporean energy retail marketplace Electrify collaborating with TEPCO to launch Synergy, peer-to-peer solar energy trading platform on blockchain, in Kyushu, Japan, which will enable consumers to sell surplus energy to other consumers or businesses
- Blockchain Technology – Leveraging Plasma network on Ethereum platform, smart contract scaling system that can potentially process millions of transactions per second
- Synergy Components – Include PowerPod IoT device for monitoring small-scale production and E-wallet for managing smart contract payments, with both interfaces accessible through browser or mobile device
- Pilot Project – Initial launch, called TAKE Energy Pilot Project, will focus on one residential site in Kyushu with eight million inhabitants and largest base of solar deployment
- Participation Benefits – Will allow consumers and businesses to access preferred energy sources and track consumption, while removing third-party intermediation in trade, leading to overall reduced energy costs
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Accelerator
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Business Model and Practices
Business Model
and Practices
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Sector
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Energy
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Organization
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ELECTRIFY Asia, Tokyo Electric Power Company (TEPCO)
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Source
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Original Publication Date
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July 9, 2018
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