Austrian Blockchain Company Builds Platform to Tokenize Solar Energy
The platform tokenizes output of solar-panel assets and allows customers to pay bills according to the power produced.
Jun 7, 2021 at 8:51 a.m. UTCUpdated Aug 21, 2021 at 7:27 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/B64MIAARQBG6RJ7YIQ44XTCEBE.jpg)
A Vienna-based blockchain interface company, has built a platform for consumers to invest in energy produced by solar power through tokenization.
- Riddle&Code Energy Solutions teamed up with Austrian energy provider Wien Energie to build MyPower, an announcement Monday said.
- MyPower tokenizes solar-panel assets, allowing customers to purchase shares in Austria's solar-energy industry.
- In the early stages of the project, a limited number of customers bought shares in a small solar-panel plant, for which they received tokens based on the energy produced by the plant.
- The users were able to use the tokens to pay their electricity bills.
- The project has turned its users from "consumers into prosumers," according to Michael Strebl, CEO of Wien Energie.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)