The world has been watching news coming out of Mobile World Congress to learn of emerging technologies in the mobile space. Announcements from mobile brands like Samsung unveiling their new Galaxy S9 were expected and are commonplace for the massive industry-spanning event. Cryptocurrency, however, is a new topic of discussion for major brands presenting at Mobile World Congress.
Joining the likes of Rakuten, Germany-based auto-manufacturing powerhouse Daimler AG - which sells the car brands Maybach, Smart, and Mercedes-Benz, along with a range of commercial vehicles - also took the stage at Mobile World Congress to announce a cryptocurrency of their own. Dubbed “MobiCoin,” Daimler AG’s cryptocurrency was developed to encourage environmentally-friendly driving habits.
The data will be compiled in a mobile app, and drivers will be assigned an “Eco-Score” based on things like acceleration, braking, and speed. Drivers will be able to challenge themselves to curb aggressive behaviors and in turn, be rewarded with MobiCoins that can be used to receive a variety of rewards, such as VIP tickets to Daimler sponsored events like the Mercedes Cup Final. Daimler has begun its testing phase, with only 500 drivers initially pegged to take part in the program.
Daimler’s Jonas Von Malottki has praised the benefits of blockchain:
“The blockchain, with its decentralized architecture, will open business models and multiply the possibilities of collaboration between big and small players.”
Clearly the auto industry recognizes the benefits of blockchain and cryptocurrency, with BMW recently partnering with VeChain for an unspecified project, and Porsche planning to integrate blockchain to track driver behavior and vehicle performance through a partnership with emerging technology firm, XAIN.