The Beijing Mercedes-Benz Sales Service Company (BMBS) will apply blockchain technology to storing used car data, according to a
report yesterday. Startup
PlatON developed the platform, which will be made available to Mercedes Global.
Without a single source of truth, navigating the used car market can be difficult. Issues can be hidden by previous owners or dealerships since there is little transparency in the industry. However, buying a used car is cheaper and better for the environment. Up to 35% of a vehicle’s carbon footprint comes from its manufacture.
Here enters blockchain, acting as a trustworthy ledger of car maintenance history. With an immutable store of data, consumers can be given peace of mind in purchasing a used car. Mercedes Benz and PlatON plan to store vehicle data for its entire lifecycle.
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