Energy P2P Trading Project on IOST platform reveals in Japan
A Japanese Top energy conluting firm chose IOST as blockchain pl
Development of new services using Blockchain technology is progressing in various fields worldwide. Its tamper-proof and secure data with autonomous execution program by smart contracts where people are reliable on.
We are excited to announce the Proof-of-Concept of electric power trading with IOST platform in Fujimi town, Nagano prefecture, Japan.
Fujimi Town (Fujimi-machi, Suwa-gun, Nagano) is located in a very mountainous area within the Suwa region of east-central Nagano, a border between prefectures with Yamanashi, where you can have excellent view of Mt. Fuji.
Overview of Power Trading P2P Proof-of-Concept
Energy consulting and electricity retailer, elDesign, and its group company, Morino Energy, will conducted a demonstration experiment that trade electricity between companies( or indivisuals)and individuals in the town using blockchain technology to manage a bidding system and an incentive mechanism in February 2020.
EverSystem known as a developer of Crypto Ninja will build the application and IOST will provide blockchain technical advisory.
The follow of bidding system and points incentive with gaming element
The power generator indicates the selling price of electricity and the consumer bids once a day by selecting the purchase destination. Benefits are given to consumers with points which are increased or decreased depending on whether or not the bidding price is matched.
The press conference with a Fujimi Town Mayor
On 14th November 2019, Fujimi town mayor, CEO of elDesin, Dr. Wada from EverSystem and our Co-founder and CTO, Terry particited with along over 5 medias gathered in Fujimi town, 2 hours and a half away from Tokyo, for our announcement of the PoC.
Fujimi Town Mayor, Mr. Natori, gave a speech and said “By leading this PoC to commercialization, it will create employment in the town and revitalize the region. The locals are also expecting the PoC on Feb 2020. ”
Fujimi town also says that town-operated large-scale solar power generation company Fujimi Mega Solar wants to cooperate as a power seller.
Terry, IOST Co-founder pictured with Fujimi Town Mayor.
A tour of inspection of solar electric panels in Fujimi town
Media and a cable TV publish our Project
1. NIKKEI Newspaper << Link
The most powerful publication in Japan and one of the largest worldwide parper with 3 million criculation.
2. Nagano Nippo << Link
Local newspaper in Nagano prefecture with about 60,000 circulation.
3. Denki newspaper
Provides the latest news on electrical equipment, communications, electrical equipment, construction and construction, with a focus on power and energy.
4. LCV Cable TV << Link
A cable TV station with service in Nagano Prefecture.
elDesign, EverSystem and IOST
For last a few month, we, three partners , have been working on the project, designing incentive model, being advised by a lawyer and what gaming element should be in the PoC.
At last, thanks to Mr. Sakagoshi, CEO of elDesign, for all arrangement of trip to and the press conference in Fujimi town, Nagano.