Blockchain Energy Trading Trials Kickoff with Canada’s BTL Group and Austria’s Wien Energie

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Canada’s BTL Group has announced it is working with Wien Energie GmbH, Austria’s largest regional energy company, on a Blockchain pilot using BTL’s Interbit platform – that will significantly drive down costs associated with energy trading.

Guy Halford-Thompson, Chief Executive Officer and Co-Founder of BTL said:

“We are very excited about working on this project with a number of major energy companies, including Wien Energie, a large and well-established European energy provider. The experience and expertise we expect to acquire from this pilot will be in addition to the knowledge we have obtained from our past work with leading energy companies. By commencing this project we are one step closer to live application of Interbit in the energy sector.”

“With the pilot project now being launched, we are able to build up know-how in the Blockchain area with our partners and test the new technology for its opportunities and benefits. We also want to analyze how new business models can arise from this,” says Peter Gönitzer, Managing Director at Wien Energie. “Through different experimental arrangements with the technology, new insights into the use of Blockchain in the energy business are to be gained and possible process optimization and cost savings are to be explored.”

Wien Energie’s Chairman, Michael Strebl added:

“Blockchain technology is a further digitization trend in the energy industry. As Austria’s largest energy service provider, we want to actively make use of the technology and its chances for our customers and us.”

“Blockchain technology is a further digitization trend in the energy industry. As Austria’s largest energy service provider, we want to actively make use of the technology and its chances for our customers and us.”

This pilot project is being supported by global consultancy firm EY and is expected to run for three months, from March to May 2017, after which further commercial strategies will be assessed.

Andreas Freitag, Manager at EY Austria added:

“The energy industry should actively deal with Blockchain technology. The impact on existing processes and markets could be enormous. Now is a good time to test the technology and adjust the company to the upcoming changes. With EY playing a critical role in the pilot, led by BTL, we are able to get to know the technology and to assess the future potential even better. At the end of the project, we will be a step further to assess how Interbit will affect the energy industry.”

Guy Halford-Thompson continued:

“The energy industry has a complex ecosystem with a myriad of business lines from raw material exploration to electricity generation and delivery. Currently, record keeping and data management are incredibly cumbersome leading to costly mistakes when it comes to trading energy products and tracking asset ownership. From the work we have done so far, we have demonstrated how the Interbit platform can vastly improve existing infrastructures. We believe this project we are undertaking with some of the world’s largest energy companies will further prove how our Blockchain technology can increase efficiencies and lead to considerable cost savings for energy companies.”

Operating from both Canada and the UK, BTL offers Blockchain solutions to businesses across multiple industries, in particular, the finance, energy and gaming sectors. BTL has built prototypes that showcase the capabilities of its Interbit platform, a proprietary Blockchain based interbank payment network and settlement and asset trading solution.

Interbit is an open, multi-chain, asset settlement platform with a suite of APIs and smart contracts that allow businesses from across the world to provide global access to fast, secure, and auditable financial and asset trading services.

With offices in Vancouver and Canary Wharf in London, BTL is positioning itself as a front-runner in the Blockchain ecosystem, providing advice and knowledge to industry leaders.

Website: www.btl.co
Twitter: https://twitter.com/BlockchainltdW

Wien Energie is the largest regional energy provider in Austria. The company supplies electricity, natural gas and heat to more than two million people, around 230,000 commercial facilities, industrial facilities and public buildings, as well as around 4,500 agricultural enterprises in Vienna, Lower Austria and Burgenland. The electricity and heat production comes from waste recycling, cogeneration plants and from renewable energy such as wind, water and solar energy as well as biomass. Wien Energie relies heavily on decentralized generation and energy services. Information on the company can be found online at www.wienenergie.at

 

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, co-founder and director at education company Blockchain Partners and partner of token design and ICO marketing company CryptoAlchemy.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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