Mercedes Parent Firm Building Crypto Hardware Wallet for Cars

The German multinational corporation behind the Mercedes-Benz brand, Daimler, partnered with European blockchain interface solutions startup Riddle & Code to provide an open car hardware wallet solution. This was announced by the start up via a press release on July 22 2019

 

According to the press release, car wallets have a wide variety of use cases, such as car-sharing, autonomous vehicles, real-time exchange of secure traffic data and with smart city environments to reduce congestion and lower insurance premiums. Tom Fürstner the startup’s CEO said:

“Autonomous cars must behave consistently to be trusted. Cars are already computing devices. A secure identity ensures that the right authorities have approved code executed inside vehicles and the trustworthiness of data exchanged. RIDDLE&CODE secures this with its cryptographic hardware and uses ledgers to turn automobiles into future market places.”

The wallet is reportedly built around the startup’s own secure data storage solution Secure Element 2.0, and allegedly provides a secure blockchain-based identity to vehicles.

A press release published in February revealed that Mercedes-Benz has developed a platform based on blockchain technology to increase transparency and sustainability in complex supply chains.