IKEA (Iceland) completes the first commercial transaction using programmable electronic money at Ethereum

According to a statement by Tradeshift on Tuesday, IKEA (Iceland) conducted a commercial transaction at Ethereum, using smart contracts and authorized electronic money to help resolve orders from local retailer Nordic Store. The transaction was conducted on a platform provided by supply chain management company Tradeshift and used Monerium's "programmable digital cash" supported by ConsenSys. Specifically, the Nordic Store purchases goods from IKEA and uses Monerium's tokenized Icelandic krona to settle electronic invoices. According to Monerium and Tradeshift, this is the “first in the world” transaction, indicating that “supervised, programmable electronic money is ready to enter the mainstream market.”