It seems the world of cryptocurrency is never dull. Today, various companies around the globe are dealing in digital currency in addition to bringing synergetic forces to finance a wide range of incredible solutions. One such incredible solution is to bring an end to traffic jams.


Quick Look:

  • A German start-up, Lilium will develop a five-passenger “flying taxi” to bring an end to the traffic problems.
  • In Series B funding round, the company has received US$90 million.
  • Companies funding Lilium’s flying taxi business are somehow connected with Bitcoin, the blockchain, and other digital currencies.
  • Companies like Daedalus Drones, first drone services company to accept the digital currency, enable users to use Bitcoin for its services.

It seems the world of cryptocurrency is never dull. Today, various companies around the globe are dealing in digital currency in addition to bringing synergetic forces to finance a wide range of incredible solutions. One such incredible solution is to bring an end to traffic jams. As such, Lilium, a German start-up which is to develop a five-passenger “flying taxi,” has raised finance from top tech investors, making it one of the best-funded electric aircraft projects to date. Companies funding Lilium’s flying taxi enterprise have direct or indirect connections with Bitcoin, the blockchain, and other digital currencies.

In a race to bring an end to traffic jams, Lilium, a Munich-based company, promises to enable passengers to travel five times faster than by car. According to the company, “our 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. By traveling through the air you’ll be able to avoid time-consuming traffic jams while enjoying a magnificent view.”

The company has already secured US$90 million in Series B funding round. The new funding, led by Chinese Internet giant Tencent, also includes Liechtenstein-based LGT, Europe’s largest family-owned investment firm; European venture firm Atomico; and Obvious Ventures, whose co-founder, Evan Williams, is a co-founder of Twitter. The company states, 

“Lilium’s seed investors, Freigeist (formerly e42) also invests in Outbank. The multi-bank app, Outbank allows users to manage and overlook their bitcoins in the same app as their regular bank accounts.”

Tencent’s initiatives like Q Coin and Kin involves cryptocurrency. Also, Tencent’s Wechat lets users perform transactions in Bitcoin. A major Bitcoin exchange, OKCoin enables users to use Wechat to trade Bitcoin. The company has emerged as one of Europe’s hottest start-ups, bringing a new category of aircraft capable of both vertical take-off and electric powered jet flight. Now, a question arises that will be flying taxis accept Bitcoin as means of payment? Well, companies like Daedalus Drones already accept Bitcoin for its services, making it first drone services companies to accept the cryptocurrency. Also, AirBaltic and Polish Airlines LOT offer services for bitcoin. More and more air traveler companies, like BITPoint Japan, are now accepting Bitcoin.

Cryptocurrency seems to have a bright future as smart companies are welcoming it. Tencent is considered one of the world’s smartest companies in 2017. Lilium CEO, Daniel Siegand, was named as one of the Innovators of the year 2017, under 35, by MIT Technology Review. If such smart companies develop quick and secure payment applications for their new business, Bitcoin could soon be seen as a payment option in the flying taxi business.


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