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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.
Updated Sep 14, 2021, 1:07 p.m. Published Jun 7, 2021, 8:51 a.m.
A Vienna-based blockchain interface company, has built a platform for consumers to invest in energy produced by solar power through tokenization.
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- 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.
Read more: Microsoft, Apple, MicroStrategy to Be Listed on Binance as Tokenized Stocks
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