A German utility company has recently made available the option of using bitcoin to pay for its utility bills.
According to the company’s press release:
“Digital payment methods such as Bitcoin are becoming increasingly popular. Enercity therefore now allows bills to be paid with Bitcoin.”
The company is Enercity, and it provides both the public and industry with electricity, gas, district heating, and drinking water. Its is one of the ten largest energy companies in Germany, with approximately 2,500 employees and a turnover of around 2.3 billion euros. It provides energy and services for residential customers in Hanover and the Hanover region, as well as for business customers throughout Germany.
What is attractive to Enercity about using bitcoin is the ability to act independently of central institutions and, unlike many traditional banking institutions, the company see the future as decentralised transactions and networks.
While it is already possible for people to use third party services to pay bills, it is believed that Germany’s Enercity is the first city level utility company to accept bitcoin directly. Payments can be done directly from the Enercity site or the company’s terminal at the Enercity Customer Center in Hanover.
While there has been some scepticism in Germany around crypto-currencies, the landscape has been rapidly changing and Germany is quickly becoming the place for fintech and blockchain innovation. With this approach to Bitcoin and blockchain technology, Germany could be well positioned to take advantage for innovations in fintech and blockchain development.
Enercity explains bitcoin payment here (German only).