German luxury automobile maker Mercedes-Benz is focusing on the environment by teaming up with British startup Circulor to launch a pilot that promotes the transparency of CO2 emissions.
The companies will leverage blockchain tech to track carbon emissions of climate-relevant gases and the amount of secondary material used by the supply chains of battery cell producers. It plans to have a carbon neutral new passenger car fleet ready in less than 20 years.
Says Markus Schäfer, member of the board of management of Daimler AG and Mercedes-Benz AG,
“We are the first manufacturer to use blockchain technology to map CO2 emissions in the global battery cell supply chain. In doing so, we are laying the cornerstone for effective improvements – for the environment and for our businesses.”
Blockchain technology aims to transform existing processes in the transportation, food, day labor and education sectors.
As industry leaders explore the technology that underpins Bitcoin and other digital assets, use cases for blockchain are proliferating beyond finance, payments and banking services and promise to make complex, paperwork intensive procedures involving multiple parties far more manageable, traceable and transparent.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Denis Makulov