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Auto giants Daimler, BMW, Porsche, and Volkswagen are leveraging blockchain technology

German auto giants Daimler AG, BMW, Porsche, and Volkswagen are leveraging blockchain technology to build some very unique and innovative solutions. Blockchain essentially provides these global brands the ability to provide their respective ecosystems with value in terms of transparency and brand new reward mechanisms.

BMW has partenered with the blockchain based supply chain enchancement platform VeChain Thor, while Volkswagen‘s Chief Digital Officer Johann Jungwirth has joined the supervisory board of the IOTA foundation. IOTA has been in the news for a lot of reasons recently, both good and bad, but this addition to the board is certainly a positive outcome as it further signals IOTA’s growing mainstream acceptance. IOTA’s case is particularly interesting as the project focuses on a technology that it claims is in some ways superior to blockchain technology itself. Their blockchain upgrade tech is known as Tangle.

Porsche has joined hands with XAIN to radically improve locking and unlocking mechanism in their cars using blockchain tech that functions through an app. Porsche is also looking to use blockchain to add temporary but secure access authorisations to its ecoystem in a way that hasn’t been possible before and potentially improving autonomous driving functions.

Perhaps, one of the most interesting use case emerging from the German auto giant market for blockchain tech is that of Daimler AG. Daimler AG, which is known for its Mercedes-Benz brand, is introducing its own blockchain-based digital currency called mobiCOIN which will be used to reward drivers for environment friendly driving. The drivers will be rewarded with mobiCoins if they drive safely and under a certain speed-limit deemed safe. The drivers can then take these mobiCOINS to get VIP tickets for Daimler AG sponsored or related events, the details of which are yet to be made public.

At the moment Daimler AG hasn’t made any suggestions on whether mobiCOINS will be tradeable for other currencies such as bitcoin or fiat. But since this project is meant to reward Daimler AG’s ecosystem it is highly likely that it will be a centralized blockchain-based currency which may be used primarily as a new way of rewarding drivers and Daimler customers. The project is currently in testing phase and over time it may evolve beyond its current reward system functionality if and when Daimler sees fit.

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