The Tokyo Electric Power company (TEPCO) has invested in UK-based blockchain firm Electron in a focused pivot from centralized structures to decentralized systems for the energy sector. In an announcement on Friday, TEPCO revealed its investment in London-based blockchain startup Electron toward the end of 2017. With revenues of over $456 billion, TEPCO is Japan’s largest utility provider...
Mainstream energy executives are getting into blockchain. A former boss at utility company Npower joined a blockchain startup aiming to help British homes using smart meter technology to switch their energy providers in a more streamlined manner. After leaving German-owned Npower in 2015, Paul Massara has decided what his next move will be: joining the board of Electron, which is a 12-person...
A U.K.-based startup called Electron has created a platform on the Ethereum blockchain and has shown, using data from 60 energy providers, that energy supplier switches can be performed 20 times faster than current rates, yielding major cost savings, according to Techcrunch. The company, which has used simulated data from 53 million metering points, hopes to convince energy companies to move to...