Wien Energie, Austria’s largest regional energy company, is joining a group of others from the industry to participate in a blockchain pilot with the aim to cut down costs related to energy trading.
The energy giant will use Canadian blockchain firm BTL’s proprietary Interbit platform. Launched in early 2016, Interbit is a multi-chain remittance platform based on distributed ledger technology that was developed to enable faster and significantly cheaper transfers of funds and assets.
Wein Energie’s Chairman, Michael Strebel stated:
Blockchain technology is a further digitization trend in the energy industry. As Austria’s largest energy service provider, we want to actively make use of the technology and its chances for our customers and us.
Wien Energie provides electricity, natural gas and heating to a nearly 2 million people in Austria. The company is reliant on decentralized generation and energy services, while producing electricity and heat from renewable energies as well as waste recycling and cogeneration plans.
The pilot project will also see the participation of consulting firm Ernst Young Austria and will run for three months, from