Bitcoin Forum

The smartest minds and smartest companies in the world are not only dealing with cryptocurrencies, but they are also bringing synergetic forces to finance a wide range of amazing solutions. One of these solutions: reducing travel time and solving traffic jams. For example, companies such as Tencent and Freigeist are funding Lilium, a German start-up company, to develop the first all-electrical vertical take-off five-seat flying taxi.

Heralding the End of Traffic Jams

Lilium, a Munich-based company, promises to enable passengers to travel five times faster than by car. Lilium’s mission is to introduce “the world’s first all-electric vertical take-off and landing jet: an air taxi for up to five people. You won’t have to own one; you will simply pay per ride and call it with a push of a button. It’s our mission to make air taxis available to everyone and as affordable as riding a car.”

Lilium promises to end traffic jams. “By traveling through the air you’ll be able to avoid time-consuming traffic jams while enjoying a magnificent view,” says the company website.

Lilium reports that it has already secured US$90 million Series B funding round. Members of the funding group include Tencent, LGT Banking Group, Atomico, and Obvious Ventures.

Flying Taxis, Blockchain, and Bitcoin

Entities funding Lilium’s flying taxi enterprise have direct or indirect connections with Bitcoin, blockchain, and other digital currencies.

“Tencent believes that the third big change is brewing with Bitcoin and its underlying technology – the blockchain entering the scene,” Investopedia reports.

Thus, using blockchain-based technology, Tencent, the giant Internet enterprise, is developing the TrustSQL platform to provide “enterprise-class block chain infrastructure, industry solutions, and secure, reliable and flexible blockchain cloud services,” according to Investopedia.

Tencent has long been involved in initiatives involving cryptocurrencies, such as Q Coin and Kin. Moreover, Tencent’s Wechat Pay which is incorporated into the Wechat app, is one of the major Chinese mobile payment services. Wechat lets users perform transactions in Bitcoin. For example, OKCoin, a major Bitcoin exchange, allows users to use Wechat to trade Bitcoin.

Moreover, according to Lilium’s press release, Freigeist were Lilium’s seed investors. Freigeist (formerly e42) also invests in Outbank, a multi bank app that integrates Bitcoin. “Outbank allows users to manage and overlook their bitcoins in the same app as their regular bank accounts,” states the company website.

https://news.bitcoin.com/bitcoin-friendly-companies-enter-flying-taxi-business/

This is a good news because they consider blockchain technology as very adaptable and logical for their daily used. But I guess this will be a private ledger shared amongst the company. We all know how data is very secure and fast when you use bitcoin so for me this is one advantage they see that's why they have decided to apply it. It will took years to developed and customized this blockchain, but if you are the management and look at it down the line, its gonna be worth it once blockchain technology's potential has been put up in their business.