Furniture giant IKEA starts using the Ethereum network
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Furniture giant IKEA starts using the Ethereum network
IKEA in Iceland recently settled an invoice using the Ethereum blockchain, and payment using cryptocurrency was also accepted.
The transaction was facilitated by Tradeshift, a US-based blockchain technology company.
Monerium also acted as an intermediary and offered a digital version of the Icelandic Krona currency on the Ethereum blockchain.
stated Mr. Geert Sylvest, co-founder of Tradeshift, says:
“Programmable money regulated by governments will become the basis for e-commerce payments
It allows the so-called “smart contracts”.
Smart contracts have many use cases, for example they can be used to create “smart invoices”, which are essentially self-settling invoices.
It should be noted that dealing with blockchain technology is possible in Iceland, where there is legislation approved by the Icelandic government earlier this year that approves the technology and announces work to issue a digital version of the country’s paper currency for circulation within the European Economic Area (EEA).
Read:Hackers drain $24 million worth of DeFi protocol
Sven Walfels, Co-Founder and CEO of Monerium, reacted to the latest operation and stated:
“As the first company authorized to issue electronic money built on the blockchain, we are pleased to demonstrate the benefits of blockchain technology for mainstream B2B transactions using the legal form of digital money.”
Unlike volatile cryptocurrencies, e-money is a proven digital cash alternative, regulated and redeemable on demand.
The use of programmable electronic money in smart contracts heralds a new class of payments.”
After completing this deal, many companies boast that government-regulated digital money is now ready to be accepted and handled as normal.
As the intended digital currencies here are a currency based on the country’s fiat currency, but it is in a digital form based on blockchain technology.
As Mr. Stefan Ernason, Chief Financial Officer at IKEA, said:
“A programmable financial supply chain enables trading partners to link information flows to money flows through smart contracts, thereby transforming the way suppliers and customers interact.”
Read also:
Read:Find out what cryptocurrencies Grayscale is looking to add to its investment products
Dallas Mavericks Basketball Begins Accepting Bitcoin (BTC) Payments
One of Europe’s Largest Airlines Begins Accepting Bitcoin (BTC)
6 reasons why you should consider accepting bitcoin and cryptocurrencies as payment
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time