Yesterday PlatOn, a startup specialising in preserving the privacy of computer data, such as that of cars, announced a partnership with the famous Mercedes Benz company with the aim of using the blockchain to track used vehicles.
We feel honored to be part of @StartupAutobahn Batch 3, and develop a bespoke blockchain-based ‘Vehicle Residual Value Management Platform’ for the used car business line of @MercedesBenz Beijing, offering the #data trace and collection system. https://t.co/r01wrneSG3
— PlatON (@PlatON_Network) August 29, 2019
The BMBS (Beijing Mercedes-Benz Sales Service Company) will use a blockchain-based platform, the Vehicle Residual Value Management Platform, to trade used cars from the company’s line of business.
The platform will provide greater efficiency and control over the vehicle’s data for the protection of the buyer.
As stated by PlatOn’s CSO, Ada Xiao,
“from electric vehicles to driverless cars, emerging technologies have come to rapidly shape the trajectory of innovation in the automotive industry to a model that champions greater security and sustainability. With over 6.5 million used cars in China traded in the first half of the year alone, we hope that our collaboration with BMBS will highlight the need for more sophisticated data collection systems to accurately monitor the value of the vehicles comprising China’s substantial used car market”.