The Commerzbank tested in cooperation with Daimler Trucks successfully a machine-to-machine payment using electronic money. The pilot project is based on the E-Euros of Commerzbank, and uses the Distributed Ledger technology to the Corda-Blockchain. The Test payment was held in the framework of a program for process optimization in the case of trucks. This is to help drivers to concentrate in future more on Driving.
From Polina Khubbeeva
9. August 2019 BTC$11.742,00 0.02% part Facebook Twitter LinkedIn xing mail
The German financial institution, Commerzbank led with the truck giant Daimler Trucks successfully a Test for block chain based financial transaction between a truck through. This is from a press release of the Commerzbank from the 8. August show.
The Pilot transaction took place, therefore, within the framework of a project aimed at the automation of essential processes in the operation of Trucks to the destination. Among other things, this involves the digital exchange between the trucks, in order to relieve the driver of the tasks of this type.
Commerzbank and Daimler Trucks use E-Euros
Commerzbank is the first German Bank to block chain-based machine-to-machine payments offers. A fully automated payment process between an electronic charging station, and a Daimler Truck allows, therefore, the digital transaction in E-Euros. This has placed the Commerzbank earlier, namely, on one Blockchain and the Daimler Trucks Wallet with “Ledger Money” equipped. Thus, a load carriage, for example, can run the tank process, without the driver having to manually intervene. The German Federal financial Supervisory authority (BaFin) said media reports indicate their consent to the project.
This process thus increases the inter-connectivity between the devices – in this case, trucks – and gives them far-reaching autonomy. A human Intervention will no longer be here, according to Commerzbank in the future at all necessary.
“As a Bank we see it as our task to create new forms of digital payment architecture for our clients,” explains Stephan Müller from the Transaction Banking of the Commerzbank, the procedure of the financial institution. The Daimler Truck ID and Truck Wallet, on the basis of the E-Euros are used, are however still in the prototype Phase.
The Commerzbank will be able to imagine meanwhile, in addition to this project, further Use Cases for the technology. So they announced in the press release away from the cooperation with Daimler Trucks ‘ Potential in the chemical sector or the real estate industry.
Commerzbank as a pioneer in the crypto implementation
The Commerzbank has already done in the past as a pioneer in the field of cryptographic implementation. The financial institution has tested, for example, in February 2019, together with Siemens and Continental, the first Blockchain-transaction by using the Corda technology. Also in cooperation with Daimler Trucks, the Commerzbank, the Corda-Blockchain used. Another Blockchain-project of the Commerzbank was a legally binding settlement of securities on the Distributed Ledger technology, in cooperation with the Deutsche Börse in March 2019.
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