THELOGICALINDIAN - The use of blockchain technology for lending and barter costs is one of the best important applications currently actuality explored by cyberbanking institutions beyond the apple Many of these projects are either in balloon or pilot date Daimler AG the arch German auto architect has absitively to accomplish use of the cryptocurrency balance technology for agnate purposes recently
Daimler, in affiliation with Landesbank Baden-Württemberg (LBBW) afresh appear the conception of a blockchain based €100 actor bond. The bond, Schuldschein is financed by LBBW forth with added banking institutions including Esslingen-Nürtingen and Ludwigsburg and Ostalb.
The accomplished action of arising the bond, starting with its alpha (drafting in accepted terms), distribution, allocation, and beheading were all handled over the blockchain. The accomplishing of Schuldschein was facilitated by Daimler’s and LBBW’s subsidiaries, TSS and Targens respectively.
A lath affiliate at Daimler amenable for Finance and Controlling and Daimler Financial Services, Bodo Uebber was quoted by an automotive magazine saying,
“This pilot activity is our aboriginal footfall in testing the advanced array of possibilities for application blockchain technology and assessing this technology’s abeyant for approaching affairs and banking processes… Simultaneously with ablution the Schuldschein, we conduct added projects to actuate area blockchains could additionally be acclimated to access ability and abutment our business models…”
The development is one of the abounding blockchain based implementations in the automotive sector. While this accurate activity focuses on banking aspects, there are added companies that are currently exploring the use of blockchain technology for agent abstracts collection, abutting the approaching self-driven cars on a broadcast filigree and more.
Earlier this year, Daimler acquired PayCash Europe, a Bitcoin affable acquittal processing service. With the new acquisition, the aggregation appear its affairs to bolster the capabilities of its MercedesPay service. Through MercedesPay, users will be able to pay for car administration and all-embracing costs casework application Bitcoin and added accepted acquittal methods.
