PlatOn shared the news with Cointelegraph on Aug. 29. According to the announcement, PlatON’s blockchain-based Vehicle Residual Value Management Platform can store both static and dynamic data, which will be used to automatically calculate the residual value of registered vehicles over time.
Blockchain solutions company PlatOn has created a platform for storing data and calculating the price of used business cars at Beijing Mercedes-Benz Sales Service (BMBS).
Additionally, the Vehicle Residual Value Management Platform will reportedly be open to the used car market, including entities beyond just BMBS. These other parties include 4s car dealerships – authorized car dealerships in China – as well as vehicle inspection firms and used car owners.
A market with millions of used cars
Plato CSO Ada Xiao highlighted the size of the used car sector in China, arguing that the industry needs better data collection and monitoring services. She remarked:
“With over 6.5 million used cars in China traded in the first half of the year alone, we hope that our collaboration with BMBS will highlight the need for more sophisticated data collection systems to accurately monitor the value of the vehicles comprising China’s substantial used car market.”
Mercedes-Benz’s parent company moves into blockchain
As previously reported by Cointelegraph, Mercedes-Benz parent company Daimler entered into a partnership with blockchain interface solutions startup Riddle Code in July. Riddle Code set out to create a hardware-based car wallet, per the agreement. Car wallets reportedly have many use cases, including car-sharing, autonomous vehicles and real-time communication of secure traffic data with smart city environments.
The wallet reportedly has a blockchain-based identity feature for cars, which can make them more secure. Riddle Code CEO Tom Fürstner explained:
“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. RIDDLECODE secures this with its cryptographic hardware and uses ledgers to turn automobiles into future market places.”
Miller Lite Teams With Blockchain Firm for Customer Engagement Game
Miller Lite, the popular beer brand from U.S. brewer MillerCoors, has teamed up with a blockchain marketing company for the latest iteration of its “Know Your Beer” program.
For the ongoing campaign, launched July 1, Vatom Labs built what it calls a mobile”edutainment game”, called Great Taste Trivia, that served a 12-question quiz to cellphones, geo-targeting customers in over 230,000 bars and restaurants across the U.S.
Players answering all 12 questions correctly get to win a $5 prize that can be used to purchase Miller Lite. Ten thousand prizes will be paid out over PayPal in the campaign that runs until September.
Vatom Labs said Wednesday that the game was provided on its own platform that is built on blockchain tech. The game leverages NFTs (non-fungible tokens) to provide the quiz, social badges, rewards for social media sharing and to ensure that the $5 prize token “cannot be counterfeited.”
Using NFTs also allows Vatom to track game activations, engagements and engagement platform, and assign the reward based on that data.
Tyler Moebius, Co-founder and CEO of Vatom Labs, said:
“We have built a powerful brand activation platform that leverages a new blockchain enabled SmartMedia object that is highly-programmable and able to deliver real tangible value from the brand to the consumer– like $5 to their PayPal account-that remains a simple mobile experience.
Giving companies the ability to create “digital promotions and activation experiences” using blockchain is the “next major upgrade required to usher in the new era of brand innovation”, Moebius added.
