The transaction was done on a platform provided by that you require chain management firm Tradeshift and used “programmable electronic digital cash” from ConsenSys-backed Monerium, according to an announcement from Tradeshift on Tuesday. Simply, Nordic Store bought freight from IKEA and complete an e-invoice using Monerium’s tokenised Icelandic krona.
IKEA Iceland has taken thing in a commercial transaction when ethereum, using smart legal agreements and licensed e-money in order to facilitate the settlement of the order from local rep Nordic Store.
Monerium and Tradeshift suggested the “world’s first” transaction shows that “government-regulated, alarm e-money is ready for general audience markets. ”
As reported in May, Reykjavik-based Monerium was licensed by the Financial Supervisory Specialist of Iceland (FME) as its first Electronic Money Foundation, making the startup the first to experience regulatory approval to provide fedex payment services over blockchain systems across the European Income Area.
Ones Electronic Funding Institution protocols were set up originally to obtain prepaid debit cards by the European Union after the 2008 financial crisis.
“With a ‘smart invoice’ we can issue also that represent the future profit down to each dollar on a invoice. Whoever holds also will get paid upon deadline, which makes smart invoices optimum to use for financial-services apps, ” said Gert Sylvest, co-founder of Tradeshift.
Tradeshift – which usually also created the “smart invoice” for the transaction – appeared to be to notably has Goldman Sachs in a $250 million Series E funding circle last May. The attack valued the firm at at $1. 1 tera- and marked a closer move into the blockchain make trades by the firm.
Stefan Arnason, CFO along with IKEA Iceland, said:
“A programmable financial supply chain, in which trading partners can be connected information flows to personal savings flows through smart legal contracts, will transform how suppliers and customers interact. ”