DB Collaborates with Unibright for Services Tokenization

https://industrytrend.net

Largest European railway operator Deutsche Bahn AG (DB) is collaborating with Unibright to tokenize its ecosystem. Included in the project is the workshop content for a global entrepreneurship program where DB’s ecosystem will be tokenized through the blockchain technology.

Germany-based DB has approximately 2 billion customer base yearly. It offers personalized and standard tickets via ticket machine, website, and app. Inclusive services such as transportation, catering, and accommodation are provided as well.

BI developer and DB blockchain professional Akram Sioud has convinced the firm to onboard Unibright for creating a blockchain-powered solution to put together connected services. Presently, three Unibright experts are focusing on a 4-week DB internal workshop for initiating the project, collecting information, and discussing implementation matters with chosen experts.

Regarding the structure, DB’s ecosystem already has the firm and service providers on board. The ecosystem is also technically connected to the data streams of several participant firms empowered by APIs at a single or both ends of the connection. Such connections allow services integration onto a common platform.

“One goal of the workshop concept was to define better, which players can be part of an ecosystem around Deutsche Bahn and to make proposals on how this ecosystem can be built. The result should feel natural to the customer and provide tangible advantage,” Unibright CEO Marten Jung said.

The participating assets and values will be converted into transferable, controllable, partial, and restricted-in-use tokens that will serve as value representation or vouchers.

“One goal of the workshop concept was to tokenize values and assets that can be part of that future ecosystem, and also to check on possible transformations of existing value-based systems like ‘BahnBonus-Punkte’ (a reward program where a customer can collect points for each ticket purchase),” Unibright CIO Daniel Benkenstein stated.

“The technical part of integrating existing players into a newly build ecosystem is not trivial. Therefore, one goal of the workshop concept was to show, which parts of the solution can live in a blockchain and how can they be integrated with the ‘off-chain world,’ a challenge that is explicitly targeted by the Unibright Framework,” Unibright CTO Stefan Schmidt added.

The idea is to connect every part of a journey through tokens, including hotel bookings, travel miles, transportation, services, and other assets. The purchase assets may be sold or transferred.

Roles and processes 

  • The provider may offer tokens for sale on a specific platform.
  • The issuing office defines new tokens to be part of the ecosystem.
  • A collector automatically or manually moves the tokens from users to providers.
  • The consumer manages the wallet to hold as well as monitor various assets represented by tokens.

On these roles, buying, selling, transferring, collecting, and issuing new tokens are defined.

Various suppliers may define new assets and introduce them into the ecosystem. The tokens can be redeemed independently for their initial purpose and then purchased to refill the personal balance.

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Customers can gain big via option which connects and converts various assets from the ecosystem.

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Four areas were covered for the Proof of Concept:

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The API-supported operations include creating a wallet and buying tokens, clearing, booking a journey, and transferring tokens.

Using the Unibright Framework, a blockchain-powered process is designed visually while every blockchain-related object is generated automatically. Unibright has created proposals for managing new and existing tokens in the Unibright Workflow Designer via the “Ecosystem Tokenization Template.” The Unibright Explorer enables a business specialist to monitor the ongoing process without requiring any blockchain specific knowledge.

The teams are working to realize DB’s tokenized ecosystem’s potential, which will also consider creating integrated and open solutions, generating automated offers and benefits for customers, adding new partners, and guaranteeing data privacy.