Daimler LG, raise pop brands similar Mercedes-Benz, has tapped into blockchain tech alongside the launch of a airplane pilot project.
German automaker Daimler AG continues its foray into integrating blockchain engineering alongside the issuance of a year-long corporate bond, every bit good known every bit a Schuldschein. With a book of €100 million, the automotive giant partnered Landesbank Baden-Württemberg (LBBW), Germany’s biggest state-backed banking group, to launch the one-year corporate Schuldschein.
The corporate loan musical instrument airplane pilot every bit good saw participation from Esslingen-Nürtingen, Ludwigsburg in addition to Ostalb, 3 savings banks who acted every bit lenders inwards the process. The annunciation notably adds that the entire transaction of the loan agreement, from origination, distribution, allotment in addition to execution to the side past times side phase of confirmation of repayment in addition to involvement payments, were carried out over a blockchain.
While details are scarce every bit to the form of blockchain employed, the evolution of the decentralized ledger was facilitated past times TSS in addition to Targens, the information technology subsidiaries of Daimler in addition to LBBW respectively.
AG board fellow member Bodo Uebber, who oversees Daimler Financial services, farther added the automaker is pressing ahead alongside other blockchain projects to assess their impact inwards increasing efficiency inwards other concern models.He added:
This airplane pilot projection is our kickoff pace inwards testing the broad diversity of possibilities for using blockchain engineering in addition to assessing this technology’s potential for futurity transactions in addition to fiscal processes.
Daimler’s first-known foray – at to the lowest degree publicly – inwards fiscal engineering saw the acquisition of digital payments firm PayCash Europe SA inwards January, a platform that every bit good enables bitcoin services across the European Union. Daimler referred to its novel acquisition every bit an ePayment fellowship alongside “solutions for cryptocurrencies, such every bit Bitcoin in addition to eWallet systems.” Ultimately, the buy volition assistance the automaker railroad train ‘Mercedes Pay’, an on-the-go payments app that is probable to last integrated alongside Uber-competitors in addition to car- in addition to ride-sharing platforms ‘Car2Go’ in addition to ‘mytaxi’ both owned past times Daimler AG.
The next month, Daimler AG joined the open-source cross-industry blockchain working grouping Hyperledger, every bit a ‘Premium Member’.
The carmaker’s stimulate to explore in addition to implement blockchain engineering was summed upwardly past times Kurt Schäfer, Vice President Daimler Treasury, who stated:
Blockchain tin compass notice behave on close the entire value chain…We desire to practice this inwards all areas of application that are of import to us: client relations, sales in addition to marketing, supplier management, digital services in addition to fiscal services.
Featured picture from Shutterstock.
