IKEA first accepted payment in digitized fiat currency using Ethereum

IKEA's Icelandic subsidiary transacted with the Ethereum blockchain. The local Nordic Store purchased goods from IKEA and paid the bill with tokenized Icelandic kroner, according to a press release .

The transaction was carried out through the platform of the supply chain company Tradeshift, and Monerium startup provided the tokenized crown.

“Government-regulated programmable money will become the basis of payments in electronic commerce, as they allow the use of smart contracts. They have many use cases. For example, they can be used to generate “smart accounts” that will calculate themselves, ” said Gert Silvest, co-founder of Tradeshift.

Monerium was the first institution licensed by the Icelandic Financial Supervisory Authority (FME) to issue electronic money on the blockchain.

“Unlike volatile cryptocurrencies, electronic money is a proven regulated digital alternative to cash. The use of programmable electronic money in smart contracts is a harbinger of a new category of payments , ”said the head of Monerium, Svein Walfell.

Recall that last year Tradeshift raised $ 250 million to develop blockchain solutions.

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