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European energy supply and distribution companies, such as Enel and RWE, are going to test anonymous peer-to-peer Enerchain network based on the blockchain. The tests start this summer, the thestar.com portal reports.
The network will help to save on transactions due to the absence of intermediary services.
According to Michael Merz, managing director at Ponton GmbH, the developer of the project, in case of successful tests, companies are planning to start blockchain-based trading in the end of the year.
The Enerchain system is already being tested by utility companies in Germany and the Netherlands. The network allows companies to buy and sell energy, fixing the transactions in a decentralized accounting records that are open to traders.