RIDDLE&CODE, Europe’s leading provider of blockchain interface solutions, today provided details and context of its DLT hardware wallet that is powering a Daimler Financial Services-led consortium to provide an open car wallet solution.
Car wallets enable a wide variety of use cases from car-sharing to Autonomous Vehicles. The real-time exchange of secure traffic data between vehicles and smart city environments reduces congestion and lowers insurance premiums. Blockchain-certified data can be used in case of accidents.
Alexander Koppel, CEO and co-founder of RIDDLE&CODE, 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 provides Vehicle Identity, trusted data provenance and a settlement layer as part of this DLT consortium. Tom Fürstner, the company’s Founder and CTO, 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 hardware wallet solution is built around RIDDLE&CODE’s Secure Element 2.0 that provides a protected blockchain identity to vehicles. Merging that with standard Vehicle Identity (e.g. registration) creates unique and secure ledger transactions. Other partners in the Daimler-led Mobility Blockchain Platform include Blockchain Helix for human digital identity solutions, Evan.Network for the Network layer and 51 Nodes for Smart Contracts.