Japan's 3rd largest electricity provider is testing Lightning Network

posted 3 months ago
Japan's third-largest electricity provider is emerging as one of the first major companies in the world to trial a promising Bitcoin payments technology.

Chubu Electric Power Co. has entered into a proof-of-concept with "local Bitcoin and Internet of Things (IoT)" startup Nayuta, one that finds it exploring how Bitcoin payments can be made via the Lightning Network, an in-development protocol that ensures cutting costs for Bitcoin users.

With 15,000 employees and more than 200 power generation facilities, Chubu is now using Lightning to prototype a new way of letting customers pay to charge an electric vehicle.

In a demo of its work, Chubu and Nayuta went so far as to show how a Lightning payment could be sent to an electric vehicle charger that, once paid, instantly turned on and began to energize a real-life vehicle.

The demo test concluded that Lightning can indeed make small, instant payments for electric vehicle charging.
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