Bosch Coins are digital tokens, also known as “cryptocurrencies” which are issued in order to gather data about interactions with distributed ledger technologies or “blockchain”.
Bosch Coins can evaluate the usage of DLTs within industries like purchasing and logistics, which is beneficial for accelerating digital transformation.
One use case for Bosch Coins is a modified coffee machine that not only accepts cryptocurrency payments but also orders and pays service providers for operations and maintenance without human interaction. This is one instance that demonstrates how products can enter the “economy of things”. Furthermore, this concept can enable not only devices but many additional items such as buildings and cars.
The opportunities are endless with Bosch Coins. There are requests from different Bosch departments to begin utilizing Bosch Coins for orders and payments, such as in Bosch cafeterias, Supply Chain Academy and Corporate Finance. Outside of Bosch, other companies are starting to use digital tokens and distributed ledger technologies for settlements, smart contracts and even payments.