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Austria’s largest energy company, Wien Energie, commencing a blockchain pilot project for energy trading

Tuesday, 14 March 2017

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Wien Energie and other leading energy companies are taking part in the pilot project to use blockchain in energy trading.

Canadian company BTL is behind the Interbit blockchain platform, with global consulting firm Ernst & Young (EY) supporting the pilot project. The pilot project will run from March to May 2017, after which EY will further assess commercial strategies. 

The purpose of the pilot project is to drive down the costs of energy trading. A blockchain is a distributed database that maintains a continuously growing list of ordered records called blocks. 

Peter Gönitzer, managing director of Wien Energie said: “Through different experimental arrangements with the technology, new insights into the use of blockchain in the ...

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