BlockBeats news, December 9, according to Bloomberg, German automaker BMW Group (BMW AG) has begun using a blockchain-based system to automate part of its foreign exchange transactions, as companies increasingly seek to leverage the technology behind cryptocurrencies to accelerate and simplify billions of dollars in cross-border payment processes. The company is using JPMorgan Chase & Co.'s Kinexys platform, which automatically transfers euros from a Frankfurt account when the balance in BMW's US dollar account in New York falls below a set threshold.