January 19, 2018 / 9:51 AM / a year ago

Japan's TEPCO invests in UK blockchain company Electron

LONDON, Jan 19 (Reuters) -

* Japanese utility Tokyo Electric Power Company Holdings (TEPCO) has invested an undisclosed sum in Electron, a British technology company which specialises in blockchain technology

* The firms will explore the potential for changing systems in energy transactions which use blockchain

* In the next phase of energy transformation, millions of new assets will be joining energy networks at both the transmission and distribution levels, Electron’s chief executive Paul Ellis said in a statement

* “There is a huge need to create a robust shared infrastructure that can identify and record the properties of these assets – this can be underpinned by appropriate blockchain technologies,” he added (Reporting by Nina Chestney; editing by Alexander Smith)

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