Austrian Energy Group Eyes Blockchain With Vienna Test

NEWS
Annaliese Milano
Feb 8, 2018 at 03:15 UTC  |  Updated  Feb 8, 2018 at 03:25 UTC

Wien Energie, the largest energy supplier in Austria, is testing a range of blockchain use cases in anticipation of rolling out fully-fledged services that might soon incorporate them.

"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 the market," Wien Energie's chief innovation officer, Astrid Schober, told Reuters.

Those offerings could include electric car stations that are connected via the technology, as well as services around land registry and power supply, among others.

Wien Energie has previously trialed blockchain technology in its commodity trading operations, and Schober indicated that the company does not want to be left behind in the technology's wake.

"If the technology means there are no more intermediaries anymore, it becomes an issue for us, so we are actively looking into other business models," Schober said.

Wien Energie is also part of Enerchain, a consortium of European utility providers that are piloting new trading platforms. As previously reported by CoinDesk, the energy industry has shown a keen interest in integrating blockchain technology.

In late January, for example, the U.S. Department of Energy announced a partnership with blockchain startup BlockCypher to explore peer to peer energy exchanges. Likewise, Shell, BP and others decided to back a blockchain trading platform last year.

Power lines image via Shutterstock

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