Volkswagen Touts Blockchain Technology Capabilities On Logistics And Car Maintenance
Volkswagen is delving deeper into blockchain technology as it looks to leverage its capabilities in bid toenhance car maintenance operations. The automaker is also hoping to use the technology to improve its logistics network as well as specialized solutions.
Volkswagen is not new to the world of cryptocurrencies and blockchain. Early this year the company partnered with IOTA cryptocurrency as it sought to get a head start on the utilization of blockchain technology in the auto industry.
Ever since the company has made significant strides as it continues to explore the potential use case for the technology. For starters, the company is currently analyzing three potential applications for distributed ledger technology.
Using blockchain technology to enhance a mileage clocking system is top on the agenda. The blockchain powered mileage system under development should be able to store data such that no one can be able to manipulate it.
In addition, the automaker has touted how Porsche is trying to use Blockchain to develop secure car systems that hackers cannot gain access to. Porsche in partnership with Berlin startup XAIN also plans to come up with a blockchain model that will act as a virtual key for opening and using cars.
Volkswagen has already formed a special team and tasked with the responsibility of exploring the various applications of blockchain technology in the auto industry. The team is to be under the able leadership of Benjamin Sinram and Nicolai Bartkowiak.
The German automaker sees huge potential for blockchain technology in addition to supporting tamper-proof odometer readings as well as automatic payments at gas stations. As part of the latest push, the company intends to leverage Bitcoin Ethereum and IOTA blockchain which it bills as highly secure.
“We’re building our own blockchain solution, regardless of whether they’re based on IOTA, Ethereum, or other crypto technologies… We want to create added value for our customers. More security, more transparency, and partnership approach to projects,” said Mr. Bartkowiak.
Increased focus on Bitcoin, stems from the fact that it is the most popular area of application for blockchain technology. In addition, its model covers a vast number of different approaches.
Volkswagen blockchain push is already having a ripple effect as other automakers have also started exploring potential use cases of the technology especially on self-driving cars. Ford motors have already patented a new cryptocurrency-fuelled technology that enables preferential lane access while on the road.