Austrian Blockchain Company Builds Platform to Tokenize Solar Energy

A Vienna-based blockchain interface company, has built a platform for consumers to invest in energy produced by solar power through tokenization.

Riddle&Code Energy Solutions teamed up with Austrian energy provider Wien Energie to build MyPower, an announcement 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.