Czech Energy to Crowdfund Using Cryptocurrency

Pražská plynárenská, a Czech energy and gas company, is poised to crowdfund all of its energy projects using cryptocurrencies. This will be done throughout Prague, giving the company a new investment platform, one that is kind of unique in the industry it is in.

A New Investment Platform

The up and coming investment platform will be designed to specifically cater the field of green and gas projects in the aforementioned country. Apparently, this will allow interested investors and other parties to directly contribute to Czech koruna and digital asset. Apart from establishing crowdfunding in digital assets and making it available, the company also looks forward to accepting digital currencies and used them as a form of payment for their products or services.

Chairman and board at Pražská plynárenská, Pavel Janeček, said that company’s initiative has a purpose for existing. It is none other than to attract a younger generation of consumers. Janeček added that this move will allow them, as a company, to no longer be “perceived” as “old dysfunctional moths.”

Moving Towards an Operational

Janeček also mentioned about a certain operational payment gateway. And although there has yet to be a date, it is likely to be launched sometime in June next month. This payment gateway is expected to allow all digital currencies to be used as payment while converting all of them into fiat currency. The company is not keen on speculating a possible development of crypto, but they will allow someone to pay using an alternative. And in order to do so, they are open to the possibility of materializing it in the future.

Pražská plynárenská currently has 42,000 consumers to its name. According to reports, it is the only company in Czech to accept digital assets as payment for the services it provides. The announcement was made shortly after it reported record profits. It appears that its net profit has risen from 30 million koruna to around 1.19 billion koruna ($53.9 million). As for its sales, it is racking up nearly 12 billion koruna ($544 million). The company is even looking forward to higher turnovers including more potential customers this year. Nonetheless, it expects to see an overall profitability that is somewhat lower.

Sometime in August last year, the Czech National Bank said that digital currencies – Bitcoin in particular – do not necessarily pose a threat to the country’s conventional banking system. This is definitely contrary to what some experts initially believed. In fact, the bank has posted a statement saying, “Don’t Be Afraid of Bitcoin,” and even argues that fiat is – and will always be – perfect for the country’s commerce.