KCN COMMERZBANK TESTS BLOCKCHAIN

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KCN COMMERZBANK TESTS BLOCKCHAIN

Commerzbank is a major German bank operating as a universal bank, headquartered in Frankfurt am Main, tests blockchain. “First use of Cash on Ledger for automatic M2M payment processing in cooperation with Daimler Trucks. M2M payment processing Part of a pilot project for the direct handling of charging operations of electrically operated trucks. Further development steps on e-money-based payment processing will be evaluated in cooperation with industrial partners. Together with its main incubator research and development unit, Commerzbank was the first German bank to develop a block-based payment solution for machine-to-machine payments (M2M). The concrete pilot project in collaboration with Daimler Trucks deals with fully automated payment processing of charges between a tank charging station for electricity and a lorry system.” This is stated in the official release of the bank. The news release partner STEX.com.

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