- The Boerse Stuttgart group has officially announced that it is working on a blockchain project.
- The project is aimed towards financing the industrial capital goods.
- The group would focus on providing pilot transactions for the users.
Recently, the Boerse Stuttgart group has officially announced that it is working on a blockchain project. In order to seek top class technology and engineering it has partnered with Bosch, Daimler, Mobility and 51 Nodes. The project is aimed towards financing the industrial capital goods. Not only will this new project allow investors to buy industrial capital goods including machinery, vehicle fleets or energy infrastructure using digital currencies but also focused on legal and regulatory aspects. Next, the group would focus on providing pilot transactions for the users.
Implementation of Pay-per-use Protocol
The idea for this project was proposed for the first time in May 2019. The project implements a pay-per-use protocol. This feature allows the users to link their financial costs of the products with the original use of the products. In short, the usage of the products is tracked. This in turn, provides an analytical as well as flexible options for financing. Suppose, the utility of the goods is limited, the payments will remain unchanged but it won’t be considered as a great investment. The project depends on the second largest cryptocurrency platform, Ethereum for the issuance of tokens.
Ecosystem for Issuance, Trading and Custody of Digital Assets
Chief Digital Officer of Boerse Stuttgart GmbH, Dr Ulli Spankowski that this project is an example that novel investments can be effectively made using blockchain based tokens for the investors in the industrial sector. The initiative will provide financial flexibility in its financial options. With an aim of furthering new markets, the group will create an end-to-end ecosystem that will issue, trade and keep custody of the digital assets. The product Owner Industry/Logistics in Bosch’s “Economy of Things” team has reciprocated similar views on the project. He says that they want to explore this new financing method that will be adopted by the industrial companies.
Partnered Companies Have Experience in Blockchain and DLT
The Boerse Stuttgart group has collaborated with the three companies because they are well versed with blockchain and distributed ledger technologies. The Boerse Stuttgart group has its very own cryptocurrency exchange which is the largest in Germany and 9th Largest in the entire Europe. Daimler on the other hand is known for its supply chain solution and Bosch has been implementing DLT in its e-mobility and smart city projects.