Daimler and RIDDLE&CODE launch DLT enabled Hardware Wallet for Cars

Daimler Financial Services-led consortium is partnering with RIDDLE&CODE to deliver DLT wallet hardware for open car wallet solution.

The announcement noted that RIDDLE&CODE provides Vehicle Identity, trusted data provenance and a settlement layer as part of this DLT consortium. Blockchain Helix for human digital identity solutions, Evan.Network for the Network layer and 51 Nodes for Smart Contracts are also part of Daimler-led Mobility Blockchain Platform.

Founded in 2015, RIDDLE&CODE is Europe's leading provider of blockchain interface solutions company.

Executive Opinion

CEO and co-founder of RIDDLE&CODE, Alexander Koppel said, "This is a prime example of a global market leader betting on European industry collaboration and DLT-based innovation. A new generation of open mobility services will create new business models, and RIDDLE&CODE is excited to be at the heart of it with our hardware-based car wallet. It shows an ability to continue to offer disruptive value-added services creating new marketplaces for mobility, energy, and finance."

RIDDLE&CODE Founder and CTO, Tom Fürstner, said, "Autonomous cars must behave consistently to be trusted. Cars are already computing devices. A secure identity ensures that the right authorities have approved code executed inside vehicles and the trustworthiness of data exchanged. RIDDLE&CODE secures this with its cryptographic hardware and uses ledgers to turn automobiles into future market places."

The blockchain (DLT) wallet for Cars

The DLT car wallets can be used for real-time traffic data transfer among vehicles and smart city environments. The blockchain certified data can be used in case of accidents, notes the announcement.

RIDDLE&CODE's Secure Element 2.0 is utilized in DLT hardware wallet solution. It provides a unique and protected identity to the vehicles. Such a blockchain identity can be mapped to standard Vehicle Identity or registration can create unique ledger transaction, says the announcement.

It should be also noted that BMW Group and Daimler AG recently announced their collaboration for advancing automated driving technologies.