Car Hardware Wallet Developed by Mercedes-Benz and Riddle&Code

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A new partnership between Daimler and Riddle&Code was just announced. The German-led multinational corporation and the European blockchain interface solutions startup have joined together to develop an open car hardware wallet solution.

This is one of the few projects which are looking more towards the future than the present. Car wallets find a lot of uses in car-sharing, real-time exchange of traffic data, autonomous vehicles, information exchange with smart cities in order to reduce congestion, etc.

Tom Fürstner, the CEO of Riddle&Code stated:

“The entire point of autonomous cars is to have absolute trust placed in them. Most modern cars are already computing devices.  A secure identity must ensure that the proper authorities approve the code executed inside the autonomous vehicles and that the exchanged data is legit. Our company ensures this via our cryptographic hardware and our use of ledgers to turn automobiles into future market places.”

The card hardware wallet-in-development allegedly provides a secure blockchain identity to the vehicles. Additionally, it seems that the wallet is constructed entirely around Riddle&Code’s very own secure data storage solution Secure Element 2.0.

If everything goes according to plan, if this blockchain identity is fused with a state-issued vehicle registration, unique and secure ledger transactions would be easily enabled.

Earlier this year, Mercedes-Benz revealed that it had finished the development of a blockchain-based platform created to increase the transparency and sustainability in complex supply chains.  The platform was developed by another partnership between Mercedes-Benz and United States software company Icertis.

As Coinstaker reported last week, Siemens, the global automation and digitalization giant has begun exploring the potential of implementing blockchain technology in car sharing.

Siemens has is joining other mainstream giants who are racing to find more ways to incorporate blockchain tech in their respective fields.

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