RATE Group | Nordic retail giants IKEA accept Ethereum-powered supply chain transaction
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Nordic retail giants IKEA accept Ethereum-powered supply chain transaction

08 Oct Nordic retail giants IKEA accept Ethereum-powered supply chain transaction

Posted at 00:27h in Ethereum News by

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  • IKEA accepted the payment to settle a transaction with Nordic Store, a local retailer.
  • The transaction was settled by Tradeshift, a blockchain-powered supply chain, payments and marketplaces expert.

Nordic retail giants, IKEA, settled a transaction with Nordic Store, a local retailer, via the Ethereum blockchain. As per a press release, Tradeshift – a blockchain-powered supply chain, payments and marketplaces expert – facilitated the transaction. Its platform used an ether-based version of the Icelandic krona, created by Monerium, to finish the transaction. Monerium is the first-ever fintech company to have been authorized to issue regulated e-money on blockchains.

Gert Sylvest, the co-founder of Tradeshift, talked about how the transaction was enabled by “smart invoices.”

“Programmable money regulated by governments will become the foundation for e-commerce payments because they enable so called ‘smart contracts.’ Smart contracts have many use…

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