When the manufacturing company behind Mercedes-Benz issued its first blockchain bond last month, it did something that impacts much more than just a single automobile brand.
As revealed to CoinDesk, the €100m bond, issued on a private version of the ethereum blockchainsignals the first step in a much larger plan by Daimler AG to explore the technology. But it’s the type of bond – called a Schuldschein – that gives the project a truly global scale.
Since the financial crisis of 2008, this German version of a private placement has seen an explosion of use around the world, now totaling more than €20bn annually.
But while Daimler itself says large-scale use of an ethereum-based Schuldschein isn’t likely anytime in the near future, its success is already encouraging the German firm to test even more use cases.
According to Daimler AG’s senior manager of treasury process management, Eva-Marie Scholz, multiple business departments in the firm are now exploring use cases as a result.
Scholz told CoinDesk:…