German automaker Daimler AG, which is known for its brands Mercedes-Benz and Smart presented their own cryptocurrency MobiCoin at the Mobile World Congress 2018 in Barcelona.
Work on the project began in February 2018. Its goal is to reward drivers for driving in the eco mode, i.e. safe driving at low speeds. The project will test over the next three months. During this period of 500 drivers who will be driving in an ecological manner will get MobiCoins.
The data will be directly transferred from the vehicle in the Daimler and on their basis will be generated MobiCoins to be stored in the mobile app. It is also reported that participants who earn more MobiCoins will receive VIP tickets to events such as the DTM Races, the final of the MercedesCup or fashion week in Berlin. However, it is unknown whether the drivers MobiCoins to convert into Fiat currency or other cryptocurrencies.
In recent months, the German brands began to actively explore the possibilities of blockchain technology. In February 2018 BMW announced its partnership with blockchain startup VeChain. In the same month, Porsche has announced that it has teamed up with Berlin startup XAIN to use blockchain technology for improving the operation of Autonomous cars.