Programmable money and blockchain
The chemical industry as a main driver of blockchain technology
Why should the chemical industry be the main driver of blockchain technology?
The answer is simple: firstly, because tracer technologies, which the chemical industry is developing, are needed to create digital representatives of physical objects that can be stored in the blockchain. Secondly, because the chemical industry is at the very beginning of the supply chain and deals with the entire manufacturing industry in the world. This is not true of any other industry. This global interconnectedness means that if the chemical industry adopts blockchain in its supply chain, the manufacturing industry on all five continents will follow suit. This is exactly what is happening now.
With the pilot project Themis, which Evonik successfully completed together with BASF and Commerzbank, the path is paved for the widespread introduction of this revolutionary technology. A technology that will change our economy from the ground up. This is by no means an exaggeration. For we are on the eve of a historic change made possible by blockchain. One reason is: full automation of the supply chain. For the supply chain to be fully automated, however, not only the blockchain is needed, but also programmable money. In the pilot project, this is done using digital euros based on e-money via Commerzbank's cloud-based blockchain platform. Money, by the way. Blockchain is changing that, too.
But blockchain not only turns money upside down, it provides unmanipulable proof of the circular economy, enables the full automation of the supply chain, offers protection against industrial espionage, and prevents money laundering and corruption. Blockchain is transforming the economy.
We'll keep you updated on the topic. Promised.
THE USE CASE
Find out how new productivity potentials by using blockchain/DLT could look like in the future. The recording of the workshop with Ralf Klein - Head of Digital Business Development - Commerzbank AG, Heinz Günter Lux - Senior Digital Strategist - Evonik Digital GmbH and Sebastian Müller - Senior Project Manager - Commerz Business Consulting introduce you to the pilot project and the topic of supply chain automation.
Please note that the video is in german. Please enable the respective option on YouTube for automatic translation.
