Germany’s Rail Operator Deutsche Bahn AG Will Examine Unibright Blockchain to Tokenize Its Systems
Many companies are using the blockchain technology as a way to tokenize their ecosystems and take them to the new level.
Now, the German railway operator Deutsche Bahn AG has decided to use the help of Unibright to tokenize its entire car ecosystem. The information was originally released to the media on Tuesday, December 18.
According to the reports, Deutsche Bahn has decided to unite with Unibright to prepare an internal workshop, which can lead to future tokenization of the assets that the company currently has. DB is the largest railway company in Europe at the moment and the company is eager to explore decentralization.
Decentralized solutions are notorious because they can be used as a way to diminish the costs of operating a service and DB is set to use the technology to interact with other members of the industry and to decentralize its assets a bit.
The Tokenization of Travel
The main idea, following a project created by Unibright, is to connect many different areas using the blockchain technology. Areas like bookings, services, etc, can all be brought together by using the blockchain technology.
If everything moves according to the plan, what will happen is that each part of the travel will be fully tokenized. The system will be highly interoperable and people will be able to use tokens to purchase parts of the trip. They may even be exchanged with other people. Tokens can also be used as rewards for the person who is using the services.
The system will be created using the NEM blockchain and its framework will be used as the structure. Tokens will be able to be organized in clusters, like food, travel, accommodation, etc. This way, it will be easy for people to understand what they are seeing now.
Akram Sioud, head of sales at the Deutsche Bahn AG, knows that the workship and the proof of concept that was created for it will not exist anytime soon, but he believes that this can take the company one step closer to create this system in the future.
An Old Idea With A Powerful Company Behind
While the idea can certainly be considered “new” because nobody was actually able to pull it off, ideas like the tokenization of trips are not fully new. Many companies which had Initial Coin Offerings (ICOs) in 2017 had similar ideas to what is currently being presented by the company.
However, those were all small companies that simply did not have the structure to actually pull off these ideas. Is this the future of the blockchain? We can only hope because most of the time there are many promises and not a lot of them are actually fulfilled as often as we want to.