Mercedes-Benz parent company Daimler AG (DE:DAIGn) and mechanical engineering firm Dürr AG have conducted a pilot transaction on blockchain software firm R3’s Marco Polo trade finance network.
Per a press release published on Sept. 25, the transaction between Daimler and Dürr included the order and delivery agreement from Dürr’s subsidiary Schneck, wherein the payment was secured by a conditional payment commitment by the buyer’s bank. Marco Polo founding member LBBW provided the financing and payment commitment.