German global automobile manufacturer, Mercedes-Benz, partners with Icertis, a software provider for large-scale business, for the joint development and implementation of blockchain technology in the supply chain, the official announcement states.
Member of the Divisional Board of Management Mercedes-Benz Cars, Wilko Stark, says distributed ledger technology has the potential "to fundamentally revolutionize" procurement processes in the automobile manufacturing industry.
"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," said Stark.
Last year, another German auto giant Volkswagen applied for a patent which would allow their cars to connect with each other via a blockchain network.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.