Coindesk Logo

Austrian Blockchain Company Builds Platform to Tokenize Solar Energy

Austrian Blockchain Company Builds Platform to Tokenize Solar Energy

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.

The platform tokenizes output of solar-panel assets and allows customers to pay bills according to the power produced.

The platform tokenizes output of solar-panel assets and allows customers to pay bills according to the power produced.

AccessTimeIconJun 7, 2021, 8:51 AM
Updated Aug 21, 2021, 7:27 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.