Bitcoin-Friendly Companies Enter the Flying Taxi Business

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.