Blockchain meets car industry

This article was published on: 03/6/18 8:42 PM

Marcin IwańskiWritten by | cryptocurrency, event, news

Blockchain meets car industry

MobiCoin, a new blockchain-based token project presented at Mobile World Congress 2018 in Barcelona by Daimler AG, known from such brands like Mercedes-Benz and Smart.

 

The project was created to reward drivers for eco-friendly driving habits.

The project started in February 2018 according to Daimler blog.

Purpose

The new token has been created to reward eco-drivers, there is no information if the drivers will be able to convert MobiCoin to fiat currency or trade it for other cryptocurrencies. According to Daimler blog, users who owe the most MobiCoins will be rewarded with VIP tickets for events like, Fashion Week in Berlin, DTM Races, or the MercedesCup final.

MobiCoin project will be in its testing phase for the next three months. There will be 500 drivers who follow environmentally-friendly driving. Those participants will get rewards for their driving. Data from their vehicles will be sent to Daimler and converted into tokens which will be stored in the mobile app. Additionally, the mobile app will offer features like ranking (amount of owned MobiCoins), which gives a possibility to challenge yourself to become the best eco-driver among others and win the “contest” with other participating users.

Blockchain in cars

Daimler is not the only car manufacturer which wants to test blockchain technology in the car industry. In the past months, BMW announced that it would team-up with VeChain. Earlier, Volkswagen started working with Berlin-based blockchain company IOTAfoundation, to help utilize the massive data pool.

Porsche also announced that they would work with blockchain-based startup XAIN, to create an app which will allow to lock and unlock doors and improve business models through encrypted data logging.

Porsche press release.

 

What do you think about using blockchain technology in the car industry? Tell us here in the comment section below, or via Facebook.

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Last modified: March 6, 2018

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