Daimler works with Riddle & Code to secure DLT hardware wallet

Austrian blockchain firm Riddle & Code has announced details and context of its DLT hardware wallet that is powering a Daimler Financial Services-led consortium to provide an open car wallet solution.

Alexander Koppel, CEO, and co-founder, 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 offer disruptive value-added services creating new marketplaces for mobility, energy, and finance.

Car wallets allow a wide range of use cases from car-sharing to autonomous vehicles. The real-time exchange of secure traffic data between vehicles and smart city environments helps in reducing congestion and lowering insurance premiums. Moreover, blockchain-certified data can also be used in cases of accidents. IoT is already a growing sector with more and more devices being connected to the internet all the time. However, connected devices, their owners, the data they transmit and the servers which store collected data are open to the cyberattacks.

All of these concerns can be addressed with blockchain technology that creates immutable and transparent records of transactions that occur between two nodes on the network and these records are simultaneously updated across the entire network for everyone to see, There is a gap between the vast amount of information news organizations possess about the media they publish and the subset of that information to which their users have ready access. Into that gap, trolls and bad actors have established many tools for misleading people, generally using authentic photos and videos as source material.

Blockchain offers mechanisms for sharing information between entities in ways we think are essential for establishing and maintaining the provenance of digital files.

In March, it was reported that the New York Times was exploring blockchain technologies through a job listing, with the right candidate leading the publisher’s ‘blockchain exploration’ efforts.

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