Six Swiss utility companies are establishing a countrywide cooperation to avail themselves of the opportunities presented by blockchain technology. As of next year already, the cooperation aims to identify concrete applications in the energy sector and implement them in pilot schemes. The collaboration takes place within the framework of a global network and the Energy Web Foundation. Blockchain technology opens up new areas of business for the six participating Swiss utility companies (Services Industriels de Lausanne, SIG Services Industriels de Genève, IWB Industrielle Werke Basel, Energie Wasser Bern, IBAarau AG and St.Galler Stadtwerke) by substantially reducing transaction costs in the energy sector while also enabling the active participation of a larger number of market players. The project relies on the Energy Web Foundation’s basic blockchain infrastructure, which is currently being set up. It provides the basis for the development of specific applications tailored to utility […]
