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Auto giant Daimler launches crypto coin

Germany's largest car manufacturer Daimler AG, known for its brands Mercedes-Benz and Smart, presented its own digital currency based on Blockchain MobiCoin - at its Mobile World Congress in 2018 in Barcelona.

10.Mar.18 3:11 AM
By Daria Zaytseva


Auto giant Daimler launches crypto coin

The project, which began in February 2018, was created to reward drivers for environmentally-friendly driving habits, that is, smooth and safe driving at low speeds. The project will be in the testing phase for the next three months, during which 500 drivers who follow environmentally friendly driving rules will be rewarded with MobiCoins.

Data from vehicles will be transferred to Daimler and converted to MobiCoins, which will be stored in the mobile application. It is reported that participants with the most MobiCoins will receive VIP tickets for events such as DTM Races, the MercedesCup Final or the Berlin Fashion Week. However, it is not known whether the drivers can convert MobiCoins to fiat currency or other cryptocurrencies.

In recent months, many German auto giants have covered Blockchain technology. In February 2018, the German giant for the production of BMW cars announced its partnership with VeChain, a platform for increasing the supply chain based on the blockchain.

In the same month, Porsche, based in Stuttgart, announced that it had teamed up with the Berlin-based start-up XAIN to use Blockchain technology to improve locking systems and the capabilities of autonomous vehicles.

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).

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