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Mercedes Makes Monitoring the Used Car Market Easier with Blockchain

Automobile giant Mercedes can prevent many car issues that get hidden during purchase with implementing Blockchain to the Beijing car market. Read now.

The Beijing Mercedes-Benz Sales Service Company (BMBS) is collaborating with a Blockchain startup PlatOn to make some immense change in the used car market in China. The startup’s Chief Strategy Officer (CSO), Ada Xiao, says that the automobile industry has come a long way with technology to make the auto markets safer and more sustainable. The startup’s hope is that with their collaboration the Blockchain solution “Vehicle Residual Value Management Platform” will be a breath of fresh air to the billion-dollar market that is the Beijing used car market.

PlatOn was seen as a potential partner for BMBS when they attended an incubator program called Startup Autobahn 3, created by Daimler, the owner of the Mercedes-Benz. They presented themselves as a company that creates sophisticated solutions and Blockchain projects for the auto industry. Last month Daimler announced a Blockchain-based car wallet and a truck wallet. The car wallet uses tokens as encouragement for an eco-friendly approach to driving. The truck wallet can be used for digitizing toll payments and freight papers.

But what is the purpose of the platform? Simple. It allows people to store their car data for its entire life cycle so when potential buyers come in, they will know what they are paying for – any major issues that have occurred or may occur, and the general state of the vehicle.

The idea is that people are encouraged to buy used and electric cars or hire such. Both parties behind the platform are striving for a more environmentally-friendly future.

Mercedes-Benz has dipped in the Blockchain technology before with a partnership with Icertis Contract Management Platform to ensure consistent documentation of everyone involved on their supply chain.

This addition to the auto industry is a great step forward for a better future and a more sustainable environment. Whenever Blockchain is taken and put into a good use, this is something to applaud and encourage. Other companies that were seen go head first into Blockchain are Porsche, General Motors, Toyota, Volkswagen and Renault. Can’t wait for more good news to come.

Are you excited yet? Just when you think that the auto industry can’t get any more tech, there is a new idea and a new project. Comment down below what you think of Blockchain technology going so strong in the auto industry. If you want more updates, don’t forget to follow CoinChoose.com on Facebook, Twitter and LinkedIn so you can be part of the fastest Crypto & Blockchain growing community.

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