Germany-headquartered car manufacturing giant Daimler AG, famous for its Mercedes-Benz and Smart brands, presented its own Blockchain-based digital currency MobiCoin at the Mobile World Congress 2018 in Barcelona, Cointelegraph auf Deutsch reported on March 5.
The project, which started in February 2018,
was created to reward drivers for environmentally-friendly driving
habits, i.e. smooth and safe driving at low speeds. The project will be
in its testing phase for the next three months, during which 500 drivers
who follow eco-friendly driving practices will be rewarded with
MobiCoins.
According to Cointelegraph auf Deutsch, data
from the vehicles will be transmitted to Daimler and converted into
MobiCoins, which will be stored in a mobile app. Participants with the
most MobiCoins will reportedly receive VIP tickets for events such as
the DTM Races, the MercedesCup Final, or Fashion Week in Berlin.
However, it is not known whether drivers will be able to convert the
MobiCoins to fiat currency or other cryptocurrencies.
Recent
months have seen multiple German auto giants embrace Blockchain tech.
In February 2018, German car manufacturing giant BMW announced
its partnership with VeChain, the blockchain-based supply chain
enhancement platform. The same month, Stuttgart-based Porsche announced
it has teamed up
with Berlin-based startup XAIN to use Blockchain technology in
improving locking systems and the capabilities of autonomous cars.
Earlier, in January 2018, Volkswagen’s Chief Digital Officer Johann Jungwirth joined the supervisory board of the IOTA Foundation, a non-profit Blockchain foundation for the Internet of Things (IoT).Source
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