Japan’s Third Largest Utility Tests Bitcoin On Lightning

Japan’s third-largest electricity provider Chubu Electric Power Co. is emerging as one of the first major companies in the world to trial a promising bitcoin payments technology. The company has entered into a proof-of-concept with local bitcoin and Internet of Things (IoT) startup Nayuta, exploring how bitcoin payments can be made via the Lightning Network, an in-development protocol that promises to cut costs for bitcoin users.

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.

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