Bitcoin
$ 19,075
Ethereum
$ 595.74
Litecoin
$ 87.94

Mercedes Benz Maker Actively Using Blockchain Technology in Its Processes

Daimler the maker of Mercedes Benz cars has revealed its actively making use of distributed ledger technology (DLT) in its operations.

Daimler Actively Exploring Blockchain Technology 

Daimler AG, a German multinational automotive corporation that manufactures commercial vehicles and premium cars like the Mercedes Benz, has revealed a number of blockchain-based projects it’s currently working on.

Per sources close to the matter, during the Startup Autobahn Expo held on September 24, 2020, the leading car manufacturer shared some of the decentralized identity projects its currently working on in collaboration with some top DLT firms including Spherity and Ontology (ONT).

Specifically, Daimler and Spherity are developing a blockchain-based decentralized identity (DID) solution powered by Hyperledger Indy. The team says the system makes it possible for enterprises to easily prove their identity, credentials and automatically sign agreements.

What’s more, Daimler is also working with the Ontology blockchain to develop MoveX, a self-sovereign decentralized identity solution that aims to make it possible for a customer to enjoy numerous mobility services without sacrificing privacy.

Dividends of DLT

Commenting on the innovative initiatives, Dr Harry Behrens, Head of the Daimler Mobility Blockchain Factory reiterated that decentralized identity comes with immense benefits for customers.

“The innovation enables you to combine services from various companies and deliver them to the customer as if one company has delivered it. Customers get identified once, across the entire system and with that they can sign transactions with any of the silos and any of the operators. This is one of the benefits of blockchain and this is the real revolution behind blockchain and distributed ledger technology.”

Daimler and the Mercedes Benz brand have been making inroads into the blockchain technology ecosystem for quite some time now.

In 2018, Daimler rolled out the MobiCoin token, as part of plans to reward environmentally-friendly driving habits.

It’s worth noting Mercedes first announced plans to adopt blockchain technology in February 2019, when it revealed plans to trial the revolutionary technology for supply chain transparency.

Earlier in January 2020, As informed that Mercedes Benz had launched a blockchain pilot aimed at tracking carbon dioxide emissions across its cobalt supply chain.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Spanish Crypto Investors May Soon Be Compelled to Reveal Holdings
December 2, 2020By
Spanish Tax Authority Set for Showdown Over Crypto Tax Evasion
December 1, 2020By
Russian prime minister promises to tackle digital currency scams
December 1, 2020By
China Central Bank Pushes for CBDC to Displace Dollar Dominance
December 1, 2020By
Facebook fined $6.1M in South Korea for sharing user data without consent
December 1, 2020By

Advertisement

Image

Crpyto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin19,075 0.91 % 3.28 % 0.09 %
Ethereum595.74 0.46 % 3.48 % 1.15 %
XRP0.6176 0.67 % 8.09 % 10.75 %
Tether0.9997 0.14 % 0.18 % 0.17 %
Litecoin87.94 1.10 % 2.38 % 1.26 %
Bitcoin Cash293.07 0.72 % 7.17 % 15.38 %
Chainlink13.65 0.71 % 6.37 % 12.34 %
Cardano0.1576 0.59 % 7.97 % 5.50 %
Polkadot5.200 0.32 % 5.73 % 9.05 %
Binance Coin30.59 0.42 % 3.29 % 9.33 %