Korea’s Largest Power Provider to Use Blockchain for Eco-Friendly Micro Grid

Korea’s largest power provider KEPCO says it will use blockchain and other innovative energy solutions to develop its next-generation micro grid (MG), according to an official press release Nov. 19.

Korea’s largest power provider KEPCO says it will use blockchain and other innovative energy solutions to develop its next-generation micro grid (MG), according to an official press release Nov. 19.

KEPCO is a $15.9 billion market cap corporation in which the South Korean government and state-controlled bank hold a majority stake; it has a “virtual monopoly” over power generation and distribution in the country, according to Asia-focused publication Nikkei.

KEPCO’s new “Open MG” will reportedly harness blockchain and other technologies to improve energy infrastructure, particularly for the local hydrogen economy. To this end, it will focus on decentralization, decarbonization and digitalization, described in the press release as being the three key “trends” driving the future of the energy industry.

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