Daimler AG, the Mercedes Benz carmaker, has partnered with the decentralized data-sharing platform – Ocean Protocol.
The partnership would help the Daimler to store their critical data which include internal sales and other financial data on a blockchain and then monetize its use within the company as well as throughout the supply chain.
Big carmakers like Daimler, BMW, and General Motors have realized the value of the data collected from their vehicles, given tech-driven carmakers have become over the last couple of years. This driving data plays a crucial role in programming the Artificial Intelligence system, which would power the self-drive feature.
Daimler's technology VP, Hartmut Muelle, commented on the company's decision to utilize a PoC-based data-sharing system and said:
“We believe in the power of blockchain to unlock the value of data in a decentralized way. 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.”
Decentralized sharing of data has proven to be superior to its traditional counterpart, where Ocean protocol’s blockchain has brought significant changes in sales and finance data.
Bruce Pon, the founder of Ocean Protocol and ex-employee of Daimler, believes a company of Daimler’s size, which grants around $300 million a year for software security measures and administrative costs, could easily save a substantial amount through a transparent data-sharing system. He said:
“We have proved that internal and external data sharing works. 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.”