By Gerhard Bystricky, Head of Product Management Payments Germany, UniCredit and Henri de Jong, Head of Business Development, Quantoz N.V.
One of the most innovative and far-reaching technologies that has emerged in recent years is the Internet of Things (IoT), with its potential to embed communication into industrial and domestic appliances, machines and devices, to send and receive data. But the potential for IoT extends far beyond enabling a machine to order its own replacement supplies and parts. In particular, by combining the communication value of IoT with innovative payment capabilities, leveraging virtual accounts and blockchain technology, the result is a powerful and potentially disruptive cash management value proposition. Furthermore, this is not a vision of the future, but a proposition that can be achieved today.