Interac has been looking at different use cases where blockchain principles can help it innovate in terms of creating new business model. Using IBM's implementation of the Hyperledger framework, it has started sending "sparks" to quickly reward people for using renewable energy, using distributed ledger technology to federate data and decision-making between it and the electrical utilities it is looking to work with. Users earned an average of about $100 CAD in the two-month portion of the pilot where they could earn money. This is a pilot in production that is already helping thousands of people get incentivized to use renewable energy in the most efficient way possible. With this pilot, Interac is looking to stake its foot in the ground and bring the scale, customers and brand it has in Canada to the blockchain applications of the future.

Source: Forbes June 30, 2019 18:33 UTC