Japan\'s energy giant TEPCO has revealed that it is now investing in Electron, a UK-based Blockchain company. The Tokyo Electric Power company announced the news last week, saying that they plan to focus on developing and maintaining reorganised systems within the energy sector.

As Japan\'s biggest utility provider and with profits of more than $456 billion, the energy company has confirmed that the joint partnership will allow them to gain further knowledge of Blockchain technology and the potential benefits that it could have on the energy market.

Electron has frequently spoken about the advantages of using Blockchain technology in the energy industry in order to improve the sector\'s infrastructure. Alongside ethereum, Electron has trialled a system copying information from over 50 million meter points from more than 60 providers and shown that supplier switches would be over 20 times quicker. It is believed that a similar process could also be used in the water and telecom industry.

Furthermore, TEPCO formerly revealed that it wanted to join forces with other energy businesses in the Energy Web Foundation. Described as an international energy Blockchain platform, it aims to push forward the use of Blockchain technology in the sector. Singapore Power is also reportedly investigating ways in which Blockchain technology could be used within its business operations.