Daimler and LBBW successfully utilize blockchain technology for launch of corporate Schuldschein

Blockchain
Blockchain Deployments

Summary

 Daimler AG and Landesbank Baden-Württemberg (LBBW) for the first time have jointly used blockchain technology to execute a financial transaction. Daimler and LBBW successfully tested this innovative technology for capital markets in parallel with the process that is required by regulatory authorities

Product description

  • Launch of a 1 year corporate Schuldschein with a volume of €100 million as a pilot project for capital market transactions and financial processes
  • Bodo Uebber, member of the Board of Management of Daimler AG responsible for Finance & Controlling and Daimler Financial Services: “This pilot project is our first step in testing the wide variety of possibilities for using blockchain technology and assessing this technology’s potential for future transactions and financial processes.”
  • Rainer Neske, Chairman of the Board of Managing Directors of Landesbank Baden-Württemberg (LBBW): “Technical progress opens completely new ways to make financial processes simpler and more efficient and enables new business models. We want to exploit this potential in order to further improve banking services for our customers.” 

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Contact name
Jörg Howe
E-mail
joerg.howe@daimler.com
Phone
+49 711 17-41341
Location
Germany
Company
Dailmer
Published