RIDDLE&CODE Joins the Catena-X Automotive Network
Tokenization
May 31, 2022

Vienna, May 31st 2022, RIDDLE&CODE is now a member of the Catena-X Automotive Network e.V, an automotive association formed by leading industry players. Both Catena-X and RIDDLE&CODE aim to establish a decentralised data ecosystem through tokenization, tamper-proof identities, and digital twins of machines, vehicles and their components.  

Catena-X is dedicated to developing an open, scalable industrial ecosystem that provides a data space and secure processes for all contributors across the automotive industry. The idea is to create a network where manufacturers, suppliers and all those involved in the  value chain can participate in creating consistent means for data sharing and standardisation. 

About the Catena-X Automotive Network 

The Catena-X ecosystem consists of a consortium of 28 members from  the automotive, business and scientific communities. It is funded by the  German Ministry of Economic Affairs and Climate Action 0. The automotive industry launched a Public Association in 2021, which  includes companies that actively want to shape the Catena-X ecosystem l. RIDDLE&CODE has become a member of the  Association. 

The strategic goal of Catena-X is to implement a standardised ecosystem across the automotive industry. This incentive was initiated by German companies in the automotive sector. It will then be adopted by the entirety of the European automobile industry and beyond. 

While the Gaia-X infrastructure initiative aims to provide sovereign access to data via shared services for various industries, Catena-X specifically caters to the automotive industry. Data monetisation and implementation of token-based ecosystems are essential parts of the project. This has been done to drive these industry segments in the right direction of the environmental, social and governance (ESG)  goals on different levels. 

RIDDLE&CODE’s reasons to join 

RIDDLE&CODE will contribute to the Catena-X network by bringing in its expertise in blockchain frameworks. This has been demonstrated through projects such as the European Blockchain Services Infrastructure PCP. RIDDLE&CODE, along with other partners,  introduced a truly European architecture dubbed ZENBRIDGE. The  project is supported by the European Commission. 

Our ambition is to accelerate the move towards a transparent automotive ecosystem where data can be shared easily without facing  obstacles from different proprietary infrastructures. Since its inception, RIDDLE&CODE has tackled these challenges.  

"We are joining the association and partners to add our Trusted Car  Wallet and Distributed Ledger Technology (DLT) software stack to the  upcoming connected car data standards," said Minh Cao, Director of  Mobility & Automotive at RIDDLE&CODE. "Our focus is to guarantee robust data directly from vehicles, providing trust and transparency to  enable automation driven by AI and confidential edge computing." 

"The objective is,” he continued, “to build a professional, standardised and modular toolchain for original equipment manufacturers (OEM)  developers in the automotive ACES (Automated, Connected, Electric and Shared) and micro-mobility space that enables rapid prototyping of  blockchain-based mobility solutions that leverage cryptographic  techniques for data attestation and integration: tokenomics, decentralised data markets & data-rich vehicle networks. The RIDDLE&CODE toolchain will reduce complexity and simplify experimentation so that users can focus on building value-added  business models whilst protecting manufacturers' intellectual property (IP)."

Catena-X includes major market shareholders such as BMW AG, Deutsche Telekom AG, Robert Bosch GmbH, Siemens AG, Mercedes Benz AG and many more. Our membership will include exchanging  ideas and technologies to further enrich this initiative. 

About RIDDLE&CODE 

RIDDLE&CODE is Europe’s leading company for blockchain interface solutions. The company develops hardware and software stacks that combine the security of smart cards with blockchain and the Internet of Things (IoT). Together with its tier-one clients and partners, which include Daimler Mobility, BMW, Wien Energie and leading Dutch crypto exchange LiteBit, RIDDLE&CODE brings new business models to the fintech, energy, mobility and materials industries. 

About the Catena-X Automotive Network  

Catena-X sees itself as a rapidly scalable, interoperable ecosystem in which all  contributors in the automotive value chain can participate equally. The goal: to provide  room for the creation, operation and collaborative use of end-to-end data chains along the  entire automotive value chain. As of May 1st 2022, the Catena-X Automotive Network  e.V. has 96 members who are active as providers and users in the automotive value chain and cover a wide range of company sizes.  

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