The Austrian motorway company ASFINAG, the company issued a promissory note on a Blockchain. The Emission is done through a platform developed by the Austrian Erste Group, in cooperation with the consulting firm d-fine.
The highway company wants to set new standards in terms of the Blockchain in financial accounting. With the issuance of a promissory note in a volume of about 20 million euros, aims to position itself in the Austrian private company ahead of the competition. The capital market issue was done on a platform that is mainly been of an internal working group of the Austrian Erste Group developed.
Since the promissory note was fully digitized on a Blockchain, the entire process for the first time without paper. Consequently, ASFINAG had to hand over the signatory company, a copy of the contract on paper.
the signatories are the three Austrian banks and insurers: the Wiener Städtische Versicherung, Donau Versicherung and the Hypo Vorarlberg.
German support in the development of
to Advise the Frankfurt Consulting firm d-fine. In a press release, the ECHO is BTC, it means the platform based on the Blockchain technology, Hyper Ledger Fabric of Linux. D-fine:
“This technology [Hyper Ledger Fabric] allows to distribute business logic (chain code) and data management (Ledger) on the selected participants of the Business network is safe, and to synchronize such that the authenticity and integrity of the data is guaranteed.”
Of the developed platform, the consulting firm that promises a more efficient handling of financial products. Compared to BTC-ECHO Matthias Hirt Schulz, Senior Manager of d-fine:
“the Blockchain technology is properly applied to said sets of processes and business models, and enable quality of the digitization. The exchange of reliable and transparent information, and the Closing of legally binding digital contracts and within seconds leads to scalable processes and specific customer benefits.“
D-fine branches, according to a consulting firm with a focus on analytical, quantitative and technological challenges in all sectors of the economy.
Private motorways as a business model
The ASFINAG manages and finances the Austrian motorway network. Since this is entirely in private hands, promotes Railways, the Austrian state, the Expansion of the car by public funds. The financing, in addition to the survey of the classical toll, also through bonds on the capital market.
