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Commerzbank tests blockchain-based machine-to-machine payment solution for the first time 23 August 2019

Working together with its research and development unit main incubator, Commerzbank is the first German bank to develop a blockchain-based payment solution for machine-to-machine (M2M) payments. A fully automated payment process between an electric charging point and a Daimler truck system has taken place. For this transaction, Commerzbank issued Euros on a blockchain and provided Daimler Trucks with “cash on ledger” (i.e. the money on the blockchain) to process the payment.

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