Mercedes-Benz manufacturer, Daimler has entered into a partnership with Ocean Protocol to enable Daimler monetize data streams within the company and across its supply chain using blockchain technology.
Based on the announcement made on Tuesday, Ocean Protocol a Singaporean blockchain-based data sharing platform has now completed a proof of concept (PoC) with Daimler AG.
Daimler Integrates Blockchain
The collaboration opens the door for the Mercedes-Benz maker to explore the decentralized sharing of internal sales and financial data among the multinational’s production hubs and externally between some of its supply chain procurement partners.
The pilot project enables large enterprises to share data comfortably with the public and extracting insights from hitherto undiscovered datasets, while monitoring who is looking at what.
Hartmut Mueller, Daimler technology VP said in a statement:
“On our journey towards a data-driven company this collaboration with Ocean protocol enables us to build a secure enterprise B2B data marketplace to monetize and put data to work.”
Daimler joins others carmakers exploring Blockchain
Daimler joins other major carmakers like General Motors and BMW, who have been at the forefront when it comes to exploring blockchain technology for vehicle identity to managing data from self-driving cars.
Bruce Pon, Ocean Protocol’s CEO also a former employee at Daimler’s IT department, said a company of Daimler’s size can spend around $300 million a year simply trying to harmonize software, security measures and various types of administration costs that a transparent means of data sharing and reconciliation could slash.
Bruce Pon said in a statement:
“We have proved that internal and external data sharing works,” Pon said in an interview with CoinDesk. “Daimler’s IT departments can handle it and the business wants it. Blockchain can turn the company’s IT system from a cost center into a profit center.”