Japanese Electric Giant Tests Blockchain and Lightning Network for Charging Electric Cars

Japanese Electric Giant Tests Blockchain and Lightning Network for Charging Electric Cars

The Japanese electric power giant has decided to take on a challenge of using blockchain and the acclaimed scalability solution Lightning Network in the industry of electric cars, as per TechCrunch Japan info.

Changing The Attitude Towards Charging

In particular, The Chubu Electric Power intends to explore blockchain as a tech trend which could register the charging of them, whereas the Lightning Network is expected to be used for conducting payments for the charging.

Our top trading bots

To achieve this goal, the Japanese electric power firm has collaborated with Nayuta as well as Infoteria. The first one is known as an IoT startup, while the second is a software firm.

However, blockchain is to be tested for recording not only charging of eco transports but also for plug-in hybrids.

How Will It Work?

The Chubu Electric Power has a plan to create a novel kind of “collective housing.” It is anticipated to comprise an electric vehicle charging detail.

To elaborate this idea, the Japanese electric titan decided to carry out experiments on:

  • the blockchain level
  • the Lightning level (which is another layer on top of the blockchain and is there to solve the scalability issue)

As The Denki Shimbun reports, Nayuta has developed a charging outlet, reconcilable with the blockchain. In its turn, Infoteria focused on creating a unique mobile app. Therefore, theoretically, customers will be able to look through the records of electric car charges the way they were registered on the blockchain.

By the way, the LT has been installed in various other ways, but Nayuta is utilizing its own development to test micropayments for electric cars and their brethren.

Housing Opportunities

What makes this project beneficial is that its implementation costs a low. For instance, as Japanese media outlets emphasize, this allows possessors of electric cars or their ilks to establish a charging system in their housing thanks to the development.

Bitcoin Slips as Traders Flee, but 'Hodlers' Continue Dip-Buying
By Yasin EbrahimInvesting.com – Bitcoin slipped Monday, as newer entrants dashed for the exits amid fears Tesla (NASDAQ:TSLA) is preparing to offload BTC,...
Ether Emerges From Bitcoin's Shadow After Record Setting Week
By Yasin EbrahimInvesting.com – Ether jumped more than 20% this week to record highs and is fast emerging from bitcoin's shadow as the crypto some hail...
Goldman Sachs leads $15M investment round for Coin Metrics
Blockchain analytics firm Coin Metrics has raised $15 million in a funding found led by financial giant Goldman Sachs.In an announcement today, Coin Metrics...
Chinese online retail giant JD.com adopts digital yuan for salary payments
JD.com has been using China’s Digital Currency Electronic Payment, or DCEP, system to pay the salaries of some employees since January.The e-commerce firm...
Paxos receives ‘preliminary conditional approval’ for US bank charter
The U.S. Office of the Comptroller of the Currency (OCC) has granted today stablecoin company and PayPal collaborator Paxos a federal charter to form a...
Gemini users can now buy Bitcoin with Apple Pay and Google Pay
Major American cryptocurrency exchange Gemini now lets its users purchase cryptocurrencies like Bitcoin (BTC) with Apple Pay and Google Pay.According to...
Fidelity’s Tom Jessop says crypto has hit a ‘tipping point’
Executives at investment giant Fidelity are confident that cryptocurrency market momentum will continue for the foreseeable future.Speaking to MarketWatch...
Whale clusters suggest that this key Bitcoin level can trigger an explosive rally
The price of Bitcoin (BTC) is attempting to break the $60,000 resistance level after more than a week of ranging.Whale clusters show that $57,046 and $60,045...
WINk (WIN) soars as retail DeFi investors flee high Etheruem gas costs
Decentralized finance has exploded in popularity over the past year and many analysts have pointed to the 2020 'summer of DeFi' as the primary catalyst...
Theta token price sinks 25% overnight after mainnet delay
After recording new all-time highs all throughout 2021, the value of Theta (THETA) dropped 25% in less than 24 hours leading into March 25, following news...
Forex and crypto investors seek thrills and social status, says FCA study
Cryptocurrency traders — according to the findings of a new study commissioned by the United Kingdom's Financial Conduct Authority — are a young, diverse...
CBDCs won’t entirely replace cash if the US Fed gets its way
Many expect that a time could soon come when central bank digital currencies, or CBDCs, replace physical dollars once and for all. Comments from United...
The Waves Team Presented A Beta Version Of The Desktop Client
The Waves team introduced a beta version of the desktop client, available for various operating systems.According to representatives of Waves Platform,...
UK’s Royal Coins Producer Launches Own ‘Bitcoin’, Backed by Gold
In a plethora of countries bitcoin and its brethren have been taken with a pinch of salt both by regulators and institutional investors, e.g., in China,...
Ethereum Lost 45% Of The Cost
The cost of Ethereum is sharply reduced. For this, there are both technical (to a lesser extent) and fundamental grounds.Ethereum began to fall after Bitcoin,...