Italian energy giant Enel launches solar panel tokenization on the Algorand platform

ChainCatcher news, Italy's green energy company Enel Group has announced a partnership with encryptionWallet provider Conio to launch a solar panel tokenization product on the Algorand Blockchain. This product allows Italian residents to offset their residential electricity bills by partially owning shares of Enel's solar farms and using the generated electricity. Enel will represent part owners to manage solar panels and adjust actual energy production to help reduce electricity bills. Algorand Foundation CEO Staci Warden said that with the tokenization of real-world assets (RWA), offsetting electricity use is "location-agnostic." The project offers residents a new way to manage energy consumption.