Austria will use blockchain technologies to solve energy problems

The Austrian government has announced plans to make the country energy independent by 2040 by using decentralized renewable energy sources and blockchain technologies in peer-to-peer (P2P) energy trading.

As it became known, Austria already has projects that use P2P trading in the energy market. Among them is Riddle&Code, which helps energy companies implement blockchain technologies in their operations.

Other countries are also trying to solve problems with electricity, as the Swedish government has asked the Energy Agency to track how much energy is used for digital infrastructure, with a special focus on cryptocurrency mining. Swedish Energy Minister Hashayar Farmanbar said in an interview with Bloomberg that it is more important to provide electricity to job-creating projects such as steel mills than to bitcoin miners who use large amounts of energy.