Mercedes will soon implement a Mobility Blockchain Platform in its vehicles

Mercedes may soon have pre-installed in its cars a blockchain powered mobility platform that will do everything from managing your trip to processing digital contracts, “including the financial posting of the transactions in real time.”

In effect, the car becomes your crypto wallet!

Startup Autobahn Initiative

Mercedes is implementing Startup Autobahn, an initiative that works with startups and technology companies to develop next generation technologies relevant to automobiles. On July 16, Startup Autobahn completed six rounds of innovation and embarked on the seventh one.

Mobility Blockchain Platform

One of the Startup Autobahn projects showcased on July 16, and ready to implement, was the  Mobility Blockchain Platform (MBP).

Developed by the Blockchain Factory of Daimler Financial Services (DFS) in collaboration with four startups, the MBP is a “decentralized software platform that makes it possible to offer and manage mobility as a service with end-to-end encryption.”

One of the startups involved, Riddle&Code, innovated the “Hardware Wallet”, a digital wallet for cryptocurrency, to give the vehicle a network identity that enables it to handle transactions automatically.

So the car will pay and account for fuel, parking, tolls and maintenance. Mileage will be recorded on the blockchain and can’t be tampered with.