Tradeshift and Monerium set the bar high with the first Blockchain backed e-payment transaction and e-invoice issued for a purchase from IKEA.
A successful transaction operation was initiated through Nordic Store, an Icelandic retailer, and IKEA via Tradeshift and Monerium with the help of the Blockchain software business ConsenSys. Both of those companies specialize in e-payments. Tradeshift was the provider of the transaction and Monerium was the provider of the smart contract on the Ethereum Blockchain.
Blockchain empowerment in payments
This transaction proved that government licensed and entirely programmable e-currency is good to go for mass adoption. Gert Sylvest, Tradeshift’s Co-Founder, believes this cooperation can affect the markets in a positive way. He stated:
“Programmable money regulated by governments will become the foundation for e-commerce payments because they enable so-called ‘smart contracts.’ Smart contracts have many use cases. For example, they can be used to generate ‘Smart Invoices’, which are invoices that basically settle themselves.”
Sveinn Valfells, the Monerium CEO, has full belief that the transaction can mean a lot and probably change how payments are handled nowadays while showcasing Blockchain’s assets. Valfells commented:
“As the first company authorized to issue e-money on Blockchains, we are delighted to demonstrate the benefits of Blockchains for mainstream B2B transactions using a legal form of digital money.”
Using Ethereum Blockchain payments were approved by the permit of issuance for digital fiat via Iceland’s first electronic money provider Monerium. This essentially means all e-money providers can deliver through Blockchain within the European Economic Area.
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