Auto Giant Behind Mercedes-Benz Launches Crypto Coin To Reward Eco-Friendly Driving

Auto Giant Behind Mercedes-Benz Launches Crypto Coin To Reward Eco-Friendly Driving
German car manufacturer Daimler, famous for its Mercedes-Benz brand, has begun testing its own cryptocurrency to encourage environmentally-friendly driving.

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, Volkswagens Chief Digital Officer Johann Jungwirth joined the supervisory board of the IOTA Foundation, a non-profit Blockchain foundation for the Internet of Things (IoT).

05.03.2018 / 15:55 16
Electroneum Launches Groundbreaking Mobile Miner Electroneum Launches Groundbreaking
After a successful week exhibiting at Mobile World Congress in Barcelona, Electroneum has launched its groundbreaking mobile miner, which will open
Ripple (XRP) Has Suddenly Run Up 20%  But Why Now? Ripple (XRP) Has Suddenly Run Up 20%
At press time, the combined total market capitalization of cryptocurrency sits just above $470 billion, as coins across the board have started to
PR: Electroneum Launches Groundbreaking Mobile Miner PR: Electroneum Launches Groundbreaking
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com
Germany Wont Tax Cryptocurrencies Used To Make Purchases Germany Wont Tax Cryptocurrencies Used
The German Federal Ministry of Finances has decided not to tax cryptocurrencies when used as a means of payment. The German Federal Ministry of
Porsche First To Test Blockchain Technology For Cars Porsche First To Test Blockchain
Porsche is teaming up with Berlin-based startup XAIN to improve locking capabilities, autonomous driving, and business practices with the help of
Germany: Blockchain Service Bitwala Introduces Crypto-First Banking Germany: Blockchain Service Bitwala
German Blockchain-based payment service Bitwala is launching a banking service with debit cards. This article previously stated that Bitwala's new
Comments (0)
Add a comment
Comment on