Mercedes-Benz parent company Daimler loves the blockchain and wants to develop an open car hardware wallet solution

According to Cointelegraph, July 22, Daimler, a German multinational company behind the Mercedes-Benz brand, partnered with Riddle & Code, a European blockchain interface solution startup, to provide an open Car hardware wallet solution.

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Image source: pixabay

“Bringing the car to the future market”

According to information published by Riddle & Code, car wallets have a variety of use cases, such as car sharing, self-driving cars, real-time interactions with secure traffic data, and smart city environments to reduce traffic congestion and reduce insurance costs. Tom Fürstner, CEO of the startup, said:

“Autonomous vehicles must be consistent in their performance to be trusted. The car is already a computing device. A secure identity ensures that the correct authorization approves the code executed in the car and the credibility of the data exchange. RIDDLE&CODE passes its encryption hardware This is ensured and the use of distributed ledgers to bring cars into the future market."

According to reports, the wallet is built on the startup's own secure data storage solution, Secure Element 2.0, which provides a blockchain-based secure identity for the car. According to the author of the news, combining this identity with the vehicle identity (registration information) issued by the state will make the ledger transaction unique and secure.

Blockchain application in the automotive industry

A press release issued in February this year revealed that Mercedes-Benz has developed a platform based on blockchain technology to improve the transparency and sustainability of complex supply chains. In addition, in January 2017, Mercedes-Benz acquired the digital payment startup PayCash Europa, sparking rumors that the giant is launching its own payment service.

As Barbadt reported earlier this month, Siemens , which claims to be electrified, automated and digital, has shown a keen interest in adopting blockchain solutions , especially as it is accelerating its pace to explore blockchains in the transportation industry. Application in .