Continental, Commerzbank and Siemens announce their first successful “Blockchain” transaction. Thanks to the Corda technology of the banking syndicate R3, the test transaction could be completed within a few minutes.
The number of companies discovering Distributed Ledger (DLT) technology for transaction processing continues to grow. The tire manufacturer Continental announces its first securities business, which ran completely through the DLT. In a test transaction, Siemens acquired as investor a money market security with a volume of € 100,000 from Continental. The process, which usually takes several days, was completed by Commerzbank in just a few minutes. The companies announced this on February 21 in a joint press release.
” While markets and technologies are constantly changing, the partnership relationship with the customer remains an important asset. We are happy to be able to accompany our customers through transactions like these on the path of digital transformation.
the Board of Directors of Capital Markets of Commerzbank states.