Daimler issued 100 million euros of corporate bonds through block chain tests

nnnRumors: Daimler, together with a number of German banks, issued 100 million euros worth of corporate bonds through a chain-chain test and revealed that other applications were being studied. Over the past six months, Daimler has launched a positive exploration in the chain chain area, including joining the Superbook Block Chain Project, which shows the enthusiasm and determination in the field.n
nnTranslated by: Inan
nGerman carmaker Daimler AG issued corporate bonds worth 100 million euros as part of the block chain pilot project.n
nDaimler announced today that it has partnered with the largest state-owned wholesale banking group in Germany, the Baden-W├╝rttemberg Bank (LBBW), to develop a one-year corporate bond, Schuldschein, Of the test platform.n
nThe test also includes three savings banks in Esslingen-N├╝rtingen, Ludwigsburg and Ostalb, which simulate the prototype lenders with LBBW.n
nAccording to Daimler, the entire transaction cycle – from the initiation of the loan agreement, distribution, execution to reimbursement and interest payments to confirm – through the block chain network to achieve digital automation. Daimler and LBBW’s IT subsidiaries provided loan technical support, which also used block-chain cryptographic signatures to prevent transactions from being manipulated.n
nDaimler and LBBW are now studying other applications, including the issuance of syndicated loans through distributed books.n
nA few months ago, Daimler had just joined the Linux Foundation-led superbook block chain project. CoinDesk reported in February that the addition of Daimler was a further exploration of the potential use of the chain.n
nDaimler Chief Information Officer Jan Brecht said at the time:n
nn”We think that the block chain is a promising technology, although it is not yet fully mature, but it is growing, and now it is the right time to join it, build knowledge and pool the like – minded people to share the experience.n

Leave a Reply

Your email address will not be published. Required fields are marked *