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Automobile Concern Daimler AG develops blockchain

ICO-LINK-NEWS-Automobile-Concern-Daimler-AG-develops-blockchain

The largest automobile Concern Daimler AG, together with the German commercial bank Landesbank Baden-Württemberg (LBBW), completed the test blockchain-project, issuing corporate bonds for 100 million euro within the framework. The pilot project also involved the banks of Esslingen-Nürtingen, Ludwigsburg and Ostalb. All transactions within the framework of the test carried out using blockchain technology and protected by cryptography. The bond redemption period is 1 year.

  "Blockchain is without doubt a very promising technology, but not mature enough. Now, it is necessary, together with like-minded people, to develop this technology, accumulate knowledge and experience, and actively share them, "said Jan Brecht, Daimler's director of investments.


The next joint step of Daimler and LBBW will be the organization of the issuance of joint loans with the use of a detachment.

Let us notice, that German automobile company Porsche too has shown interest to technology of the distributed register and already tests blockchain technology in the cars.