Automated Payments: Goodbye to Humans?
Imagine a world where machines handle transactions faster than your morning coffee brews. Well, that future isn’t quite here yet, but Frankfurt’s Commerzbank is making strides toward that reality. The bank recently conducted a blockchain trial with trucks produced by the legendary Daimler, renowned for its Mercedes-Benz brand. The goal? To enable machine-to-machine payments without a single human hand getting involved. Sounds like the plot of a sci-fi movie, right?
Tokenizing Euros on the Blockchain
On August 8, Commerzbank dropped a press release that rocked the financial boat. They reported successful testing of exchanges between electric charging stations and the sophisticated truck systems designed by Daimler. This wasn’t just some light tech experiment; they actually tokenized euros on blockchain to facilitate the payments. Imagine a world where your car charges itself while seamlessly paying for the electricity it consumes, all through blockchain. Talk about a power move!
Aiming for Supply Chain Efficiency
The beauty of this system lies in its potential for operational autonomy. With machines doing the heavy lifting, so to speak, the efficiency of the supply chain could reach unprecedented levels. Stephan Müller, Commerzbank’s expert in transaction banking, shared some fascinating insights: “After having completely digitized securities transactions in past pilot projects, we are shifting our focus towards DLT-based payment structures.”
The Revenue Giants: Numbers that Impress
To put things into perspective, Commerzbank rakes in approximately $10.2 billion a year, while Daimler boasts a whopping $186.9 billion. It’s no wonder these two titans are looking to revolutionize payment systems; they already have the revenue to back up their ambitious projects!
Looking Ahead: More Innovations on the Horizon
And they’re not stopping here. A recent collaboration between Daimler and Riddle & Code, a European blockchain startup, aims to introduce an open car hardware wallet solution. Yes, you heard that right! Cars might soon carry their own wallets, making those dreaded trips to the gas station a thing of the past.
+ There are no comments
Add yours