On February 25, 2019, an official press release informed that automobile brand Mercedes-Benz Car had created a platform based on blockchain to increase transparency and sustainability in complicated supply chains.

Mercedes-Benz, which is a German multinational corporation, has recently partnered with the software company Icertis, based in the USA, to cooperate on the development of blockchain technology for supply chains. According to Mercedes-Benz’s announcement, the joint efforts of both companies have resulted in the creation of a prototype that can be used to keep documentations and contracts in complex supply chains.

The partners have now started to test their pilot project. Wilko Stark, a member of the divisional board of Management Mercedes-Benz, commented:

“Blockchain technology has the potential to fundamentally revolutionize our procurement processes... With our Blockchain-prototype, we are in the first step testing one of diverse possible applications with the aim of increasing transparency beyond our direct suppliers.”

It should be mentioned that in September 2019, another major German automobile manufacturer – Porsche AG – revealed their plans to increase investments in blockchain startups in order to “gain access to trends, new technologies and business models.”

Author: Alena Snezhnaya