Four German companies, including DZ Bank and G + D, have jointly launched an offline M2M payment solution for tokenized deposits
2024-08-13 21:29:39
Four German companies, DG Nexolution, DZ Bank, Festo and Giesecke + Devrient (G + D) have joined forces to develop a new prototype solution that supports offline machine-to-machine (M2M) payments using tokenized deposits. The technology is part of Industry 4.0 and allows businesses to rent industrial machines on an on-demand basis, without the need for an outright purchase. The solution is designed to solve the problem of machines making payments in environments without internet connectivity, such as in underground mines or secure facilities. The system integrates two digital wallets and smart cards for transferring funds between machines to enable payments without human intervention.
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