Commerzbank Tests Blockchain Machine to Machine Payments with Daimler

Commerzbank Tests Blockchain Machine to Machine Payments with Daimler

Gate Trade News Tuesday, August 13, 2019 49 4

 

Commerzbank Tests Blockchain Machine to Machine Payments with Daimler

 

Frankfurt bank and financial services firm Commerzbank tested blockchain-based machine to machine payments with trucks produced by the firm behind the Mercedes-Benz auto brand, Daimler.

 

Automated, human-free, payments

 

According to a Commerzbank press release published on Aug. 8, the bank tested the exchange and settlement of payments between an electronic charging point and a Daimler truck system without any human intervention. To allow the transaction, the bank reportedly tokenized euros on the blockchain used in the pilot and provided the funds to the automaker to process the payments.

 

Towards a more efficient supply chain

 

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