Mercedes- Benz Parent Company Launches $110M Blockchain Pilot
Mercedes-Benz parent company Daimler announced that they are launching a $110M Blockchain pilot revolving around utilization of smart contracts from their financial transactions such as loan agreement. The loan agreement would be via blockchain network that would carry out specific instructions of the investment such as confirming the repayment and interest. At this moment it is not clear which blockchain technology the company used, but from the sound of "digitization of paper" based on financial, contractual agreements seem like Ethereum or NXT block protocol to me.
Toyota, another car manufacturer, is also trying to explore blockchain technology. However, instead of focusing on financial applications, the company has taken a different approach than Mercedes by utilizing the use of smart contracts to process automatic payments. It would also help smooth the pathway of self-driving cars in the future. Toyota is still in its early stages but has implemented new software technologies to be at the forefront of creating autonomous vehicles.