Daimler is Developing a Crypto Hardware Wallet for Cars July 22, 2019 July 22, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 22, 2019 by Kelly Cromley

Daimler is Developing a Crypto Hardware Wallet for Cars

German automaker Daimler, which also owns the Mercedes-Benz brand, has joined hands with Riddle & Code, a European blockchain startup providing interface solutions, to develop an open hardware wallet facility.

The press release underlines that the car wallets serves numerous real-world cases, including autonomous vehicles, car-sharing, real-time sharing of safe traffic information, and with smart city setup to minimize clogging and smaller insurance premium.

Tom Fürstner, CEO of Riddle & Code, said

“Autonomous cars must behave consistently to be trusted. Cars are already computing devices. A secure identity ensures that the right authorities have approved code executed inside vehicles and the trustworthiness of data exchanged. RIDDLE&CODE secures this with its cryptographic hardware and uses ledgers to turn automobiles into future market places.”

The wallet is developed around the Secure Element 2.0 data storage system owned by the startup, and supposedly offers automobiles with a safe blockchain-based identification.

Furthermore, the combination of this type of identification with a government-issued automobile identification (registry) would allow for distinctive and safe ledger operations. Back in February it was revealed that Mercedes-Benz has created a blockchain-based tool to enhance clarity and sustainability in intricate supply chains.

In addition, Mercedes-Benz purchased PayCash Europa, a digital payments company, in January 2017, fueling speculation that the company is in the phase of starting its own payment processing facility.

It can be noted that the self-confessed electrification, mechanization and digitization company Siemens has shown enthusiasm in implementing technologies based on blockchain. Siemens is particularly studying the transportation sector’s use of blockchain.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.