Automated Trucks Could Take Over Payments, Too
Crypto | November 11, 2019
Germany's Commerzbank has started a pilot project that will aim to allow machine-to-machine payments between automated trucks and power charging machines without any need for human involvement.
The block-chain solution is the culmination of a joint project between the bank's research and development department and Daimler Trucks.
The aim is that the payment processing between an electric charging station and a lorry will be fully automated.
According to Commerzbank, the system works well and has already been used to send euros to Daimler trucks via the block-chain system to settle payments.
The bank is not releasing the details of how the transaction takes place on the system or how the fuel provider would receive or process payments.
What is does say, however, is that machines are becoming more and more autonomous and inter-connectivity is leading the way for payments to be made without the need for human participation.
The partners have already proved the system works, according to an announcement on Thursday.
Commerzbank is looking more and more to blockchain technology and is now becoming more focused on developing new ways of creating effective digital payment systems for its customers.
The pilot is being hailed as an indication that fully automated payment processing is possible.
As well as offering improvements in efficiency for motor fueling transactions it is likely to be taken up more widely as industries move towards machine-to-machine communication on a larger scale.