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.
As per Cointelegraph auf Deutsch, information from the vehicles will be transmitted to Daimler and changed over into MobiCoins, which will be put away in a portable application. Members with the most MobiCoins will apparently get VIP tickets for occasions, for example, the DTM Races, the MercedesCup Final, or Fashion Week in Berlin. Be that as it may, it isn't known whether drivers will have the capacity to change over the MobiCoins to fiat money or different digital forms of money.
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).