Japan’s Lightning Network Tests New Method For Car Charging Payments

In News
Japan Method of Payments

TechCrunch Japan reported the testing phase for using Bitcoins as micropayments every time an electric powered and hybrid cars recharges.

Revealed exclusively to Coindesk, the Chubu Electric Power company, Japan’s third-largest electric utility provider, partnered with Internet of Things (IoT) to start up Nayuta Inc and software company Intoteria to push the experimentation and possibility of using Blockchain technology for all charging of electric vehicles (EV) and plug-in Hybrids to be recorded.

Chubu Electric company made this bold move as part the plan to build this new type of “collective housing” that contains an electric vehicle charging component and simultaneously testing both the Blockchain section and second level payment protocol Lightning Network.

According to the local news Nayuta’s charging outlet development, making it compatible with Blockchain, in tandem with Infoteria’s mobile application, means that users could in all probability see the charge history of the electric vehicle as recorded in Blockchain.

Other news network, Chuden, reported that the user-friendly smartphone mobile app by Infoteria, still in its prototype stage, will make it possible to operate a remarkably reliable charge management system with a small introductory cost.

As part of the collective housing plan, a customer who owns an electric car can easily install a charging system in his apartment with low-cost technology.

Even though Chubu Electric power has confirmed the effectiveness of the project, this is just the verification stage and more improvements to the service are on the way by finding out the underlying problems, according to The Denki Shimbun, Hidemi Noda, the head of the chief research planning group of Chubu Electric Power Technologies Development Division.

Coindesk was told that the test is part of the company’s “market research” into how Bitcoin could power its IoT needs even though there are no official plans yet to accept Lightning payments from customers.

Since this is another money saving game plan seeing the electric charge is small, Lightning can necessarily reduce the fees for using public blockchains, according to Hidehiro Ichikawa, senior manager of Chubu Electric Power Co.

This ingenious collaboration of companies made this project an interesting display of cooperation to promote convenience using the virtual to bridge the physical realm.

What else can they think of next?


You may also read!

Personal information

US Senator Demands Internet with ‘Do Not Track List’ For Personal Information

Do you think that personal data should be shared with websites? US Senator Josh Hawley thinks otherwise. As a

Online Security

Survey Shows Internet Users Have Terrible Online Security

How secure is your online privacy? Internet users might have no conception that their personal information entered online are

Louis Vuitton

Louis Vuitton Leverages on Blockchain to Verify Fake Products

Is there anything else that blockchain cannot do? Louis Vuitton along with ConsenSys and Microsoft have teamed up to


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu