Deutsche Bahn AG is the leading train operating company in Germany and through its years of experience has been able to put up several services together for its customers. To get tickets from Deutsche Bahn AG has been made easy since there are several online ticketing platforms available and an app. In addition to providing transportation services, Deutsche Bahn AG also provides additional services such as access taxis, restaurants, hotels among other services. But to reach a broader region Unibright expertise comes in.
Through tokenization, Deutsche Bahn AG services will be available to a lot of people, and there’s no better way than to tokenize its services through blockchain technology. Together the two have created a blockchain platform that places all services in one place, be it access to local train networks, accommodation, local transport, vouchers, and tickets. To kick-start the whole process Deutsche Bahn AG asked three of its personnel to join the development team over at Unibright and carry out a four-week trial on the Deutsche Bahn Vertrieb (Ecosystem Tokenization via Blockchain.) Their primary goal is to extract the viable business ideas from the project, carry out research and integration
The concept behind Deutsche Bahn Vertrieb
The idea is a simple as this; transfer the value and assets from the current state into tokens which can be fully utilized on the ecosystem. In the ecosystem, the tokens represent the values and can be in the form of vouchers which have specific uses in the ecosystem. Through incorporating all services that customers get during a journey, the tokens will be the currency that enables them to pay for services offered. Just like using fiat currency, the tokens get transferred from the customer’s digital wallet to the service provider as payment. Apart from that, token holders can also sell or give back the tokens to the issuer.
Besides Deutsche Bahn, other service providers can define new tokens within the ecosystem. Customers can redeem the new tokens for the intended service or even purchase the tokens. But at the moment the system only supports tokens to be redeemed per driven mile only.
APIs in Place
To ease the whole process of accessing tokens at the ecosystem, APIs are available for customers. Through APIs, they can easily create a wallet purchase tokens and go ahead to make bookings and pay for services during the journey through tokens. While the system is on trial mode, more services will be added from local service providers.