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Major German Railway Company Is to Tokenize Its Services through Blockchain

Deutsche Bahn AG, a leading European railway operator, plans to examine the feasibility of tokenizing its ecosystem. The company has partnered with blockchain platform Unibright to inspect the technical possibility of the idea.

The railway giant aims to find out whether blockchain technology and decentralized solutions are able to optimize operational costs and simplify the interaction of travel industry members. Moreover, the company believes that a new project can build new distribution channels and move forward an independent acceptance of services of different suppliers.

The blockchain integration platform has already developed for a new project a proof-of-concept. Its fundamental idea is that blockchain can associate separate areas of a journey, for instance, services, travels, miles, accommodation booking as well as catering and local transport.

Thus, these independent services are to be tokenized. In the new railway project, customers can buy, sell or exchange tokens for other services. In addition, the issuer can use tokens to reward loyal customers.

Unibright is going to develop the system using NEM Protocol and a special framework. The framework allows organizing tokens by areas such as traveling, hotels, and restaurants. The solution will be user-friendly and won’t require any special skills.

While the technology popularity is extremely high, it gets implemented in a growing number of industries. Inn4Science team is ready to provide qualified Proof of Concept as well as Blockchain Development for your project. Whether you consider the opportunities of blockchain for establishing a new breakthrough business or level-upping an existing one it’s a great tool to create an amazing project! You may find out about your idea realization feasibility by asking us.

DO YOU HAVE ANY QUESTIONS?

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3 COMMENTS

  • David

    Perhaps the most interesting article this year.

  • Roger

    Oh, you’re right, tourism is one of the industries where the blockchain technology is in the right hands and with the right approach will bring tangible benefits to society. Thank 🙂

  • Joseph

    I wonder what future awaits all market participants?