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19May2017
Austrian energy supplier to implement blockchain in business processes

Austrian energy supplier to implement blockchain in business processes

Wien Energie, the Austrian energy supplier, servicing more than 2 million clients, announced its plans to implement blockchain in business process servicing, CoinDesk reports.

According to the firm's CEO, Michael Strebl, Wien Energie is going to test the technology under “lab conditions” for its further integration into future business models at an early stage.

He believes that a wide-scale blockchain development will certainly give rise to “completely new market opportunities” in terms of services offered by energy providers.

In particular, Wien Energie will focus on the development of systems that efficiently manage confirmation matching, trade and portfolio reconciliation, and regulatory compliance.

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