Commerzbank Creates Blockchain Payment Program For Machine-Based Self-Driving Trucks

Commerzbank Creates Blockchain Payment Program For Machine-Based Self-Driving Trucks

The German bank Commerzbank has recently developed a new blockchain-based technology that will be used in order to make automated payments between self-driving trucks. The system, which aims to take humans completely out of the equation, will be used to allow automated trucks to pay for their charging power without needing any human interaction.

According to the bank, this is a pilot project that was created together with Daimler Trucks to enhance the industry. Fully automated systems for payments would make these trucks even more independent and, therefore, efficient.

However, the bank did not detail very much of what will actually happen. For instance, there are no details on how the blockchain will be used and whether fiat currency or cryptos will be used. It does affirm that machines are becoming more autonomous, though, so the need to give them even more autonomy has been growing recently.

At the moment, current systems are not able to map the whole payment process, but the company is focusing on doing it soon.

Stephan Muller, a board member from the bank, affirmed that the recent digitization of the world and the use of the blockchain has inspired the bank into using the technology to offer more efficient payment systems and this is just the beginning.

According to Commerzbank, the pilot was very successful and the company hopes to be able to fully automate the payment process in the future using the current technology as a start.

In related news, Daimer has recently partnered with Riddle & Code, a blockchain company. The goal of the partnership is to provide an open car hardware wallet solution to its clients.

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Author: Gabriel Machado

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