Pražská plynárenská to Crowdfund Energy Projects with Cryptocurrencies.
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Pražská plynárenská to Crowdfund Energy Projects with Cryptocurrencies.

Local news Hospodářské noviny reported on May 25 that Pražská plynárenská, a Czech gas and energy company is planning to crowdfund energy projects in and around Prague with cryptocurrency,

The gas company is hoping to build up another investment platform in the field of green and gas projects in the nation, enabling invested individuals to contribute both in Czech koruna and cryptocurrency. Apart from making crowdfunding in crypto accessible, the organization will likewise acknowledge cryptocurrencies as a type of payment mode for their services.

Chairman of the board at Pražská plynárenská, Pavel Janeček, said the company’s initiative is a way to draw in more youngsters, saying:

“We are trying to go to the younger customers across the street, we do not want to be perceived as old dysfunctional moths.”

As indicated by Janeček, Pražská plynárenská will have an operational payment by June of this year. Digital currencies, which are utilized for payments will be consequently changed over into fiat currency. Janeček stated, “…we will not speculate on the development of crypto. But if someone wants to pay [with] an alternative, we want to make it possible.

With more than 42,000 buyers, Pražská plynárenská is apparently the only Czech company in the business to acknowledge digital money for the services it gives.

The post comes not long after the company reported record profits. Aided to some extent by the hard winter, net profit ascended by 30 mln koruna to 1.19 bln koruna (53.9 mln USD), while deals amounted to about 12 bln koruna (544 mln USD). The organization conjectures higher turnovers and more clients this year, however, anticipate that overall profits will be less

In August a year ago, the Czech National Bank guaranteed that digital forms of money like Bitcoin don’t pose any danger to the conventional banking system. An announcement posted by the bank entitled “Don’t be afraid of Bitcoin,” argues that fiat currencies are still more suitable for commerce.

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Madhuri Arora
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