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Wien Energie

Important Austrian Utility Company, Wien Energie, is Testing Blockchain Technology

· 12 Feb 2018 in Cryptocurrency News, Home
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Wien Energie, one of the most important electric companies in Austria is working in order to test different use cases of Blockchain technology. The company is trying different products in a new developing project near central Vienna. The information was released by the Chief Innovation Officer Astrid Schober.

New Blockchain Products

Not everything is related to cryptocurrencies and finance in the world of Blockchain. This technology is spreading around the world to offer many different services. This is the case of this Austrian enterprise. According to Astrid Schober, CIO of Wien Energie, green electricity provision, electric car changing or land registry services are within the reach of this new technology.

He said about that:

“We are testing blockchain-based services in Vienna’s Viertel Zwei and once we have collected enough experience there, we will develop business models and bring them to market. It may be overoptimistic but services may become available this year as we are trying to be active and build the know-how in our company fast.”

But the place where these developments are being tested is not casual. Viertel Zwei is a residential and office area that is considered as a green district for urban living based on sustainability. This technology will allow the enterprise to record data and transactions without needing an intermediary.

The energy industry is handling an important number of transaction of different sizes between enterprises and households. Consumers and producers are transacting every single day and technology must be in line with these developments. At the moment, Wien Energie has more than 2 million retail and 235,000 commercial customers.

This company was one of the first to test BTL’s Interbit Blockchain platform to increase the speed in gas trade confirmations.  With Blockchain, energy companies are able to reduce costs, risks, and increase the protection against possible cyber threats and ultimately severe costs.

Furthermore, Wien Energie is part of Enerchain, a group of 35 European utilities participating in different tests in order to create a trading platform for electricity and gas, and to perform B2B trading.

Image: Businessrun.at

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