• Wed, 21 Aug 2019, 11:30 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

South Korea's KEPCO teams up with local power suppliers to develop blockchain-based renewable energy certificates

Image obtained from The Investor

Wed, 05 Jun 2019, 06:45 am UTC

South Korea’s largest power provider, Korea Electric Power Corporation (KEPCO), has inked a deal with two local power suppliers to build a blockchain-based system for transacting Renewable Energy Certificates (RECs), local media outlet Energy Daily reported.

KEPCO has signed a business agreement with Nambu Electrica Power and Korean Southern Power Co. (South Power) to collaborate on a project to develop a blockchain-base.

We intend to concentrate all our core competencies not only in the development of new businesses but also in embracing the green country, in the era of energy decentralization, which uses blockchain technology through close cooperation between three organizations,” Shin Jung-sik, KOSPO President, said (as translated by Google).

Under the agreement, the three companies will reportedly build a collaborative system to implement the “blockchain public pilot project” for REC transactions under the supervision of the country’s Ministry of Science.

According to the report, the use of blockchain technology is anticipated to promote transparency and efficiency of REC transactions. The pilot is also expected to help develop the early market and open job opportunities for the local blockchain sector.

As previously reported here, inverter manufacturer ABB has teamed up with Italian utility Evolvere to use blockchain technology previously developed with their partner Prosume to determine how it can enhance the role of solar energy in peer-to-peer (P2P) energy trading.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,170.70 (-4.80%)
  • Ethereum (ETH) $188.15 (-4.68%)
  • XRP (XRP) $0.264900 (-3.65%)
  • Bitcoin Cash (BCH) $301.23 (-5.48%)
  • Litecoin (LTC) $71.98 (-4.76%)
  • Bitcoin (BTC) $10,170.70 (-4.80%)
Aug 21, 2019 (Wednesday)
Thailand’s Siam Cement Group seeks to expand Corda-based ‘Procure to Pay’ solution to 2,400 suppliers by 2020
Crypto Technicals: BCH/USD rejected at cloud, violation at 200-DMA to open up downside
Blockchain settlement startup Fnality adds former UBS and IMF executives to management team
Austrian telecom giant A1 to offer cryptocurrency payment option
Japan's Amaten, Aelf to revolutionize gift card market using blockchain
Crypto Technicals: Monero (XMR) recovery falters at major trendline resistance, slips below cloud
Blockchain securities issuance platform iownit.us obtains approval from FINRA
Crypto Technicals: ETH/USD struggles to extend gains beyond $200 mark, bias bearish below 200-DMA
Square Crypto hires Blockstream co-founder Matt Corallo to boost bitcoin adoption
Commonwealth Bank of Australia develops blockchain-based marketplace and token to protect biodiversity
Crypto Technicals: Bitcoin fails to take out $11K mark, tumbles below 55-EMA support (10428)
EMURGO inks MOUs with South Korean trade associations to boost Cardano adoption
China may launch its central bank digital currency ahead of Facebook's cryptocurrency Libra
Winklevoss twins may partner with Facebook on cryptocurrency
Malta-based crypto exchange CGEX to shut down after less than a year of operation
Bank of America files patent for multi-tiered crypto wallet
Aug 20, 2019 (Tuesday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
HSBC inks agreement to tap Identitii’s blockchain-based information exchange platform ‘Overlay+’
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: XRP/USD fails at 21-EMA, resumes weakness with 'Doji' formation
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.