Daimler Partners Riddle&Code For Blockchain-based Car Wallets

Mercedes-Benz maker Daimler has teamed up with Austrian blockchain startup Riddle&Code to incorporate a hardware wallet for cars to provide secure blockchain-powered identity solution.

Riddle&Code develops blockchain-based car wallets that provide vehicle identity, trusted data provenance and a settlement layer.

The wallet provides a unique, tamper-proof identity that is compatible with other technologies in that vehicle ecospace for safe transactions between vehicles and system-critical traffic solutions such as toll and charging systems. It automatically settles value and exchanges data with charging solutions, smart city systems or parking zones without human interaction.

The wallet solution can help in developing a wide variety of use cases from car-sharing to Autonomous Vehicles, with real-time exchange of secure traffic data between vehicles and smart city environments. The blockchain-certified data can also be used in case of accidents.

Daimler has already been using blockchain technology in other domains. Since 2017, Daimler has been a member of Hyperledger, a project of the Linux Foundation for the development of technologies and applications based on blockchain.

In late February, Mercedes-Benz Cars partnered cloud-based enterprise contract management platform Icertis to leverage the power of blockchain technology to address its sourcing and contracting challenges with more transparency in supply chain management.

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