The Automotive Sector is set for a major transformation as an increasing number of car manufacturers adopt Blockchain technology.
Some of the factors behind the surging adoption include the many use cases that the technology can be designed to proffer key solutions such as handling data, simplifying transactions, managing automobile supply chains, and creating a sharing economy for various players in the sector.
Some of the leading Blockchain-powered projects in the sector include;
Audi E-Mobility Project
IOTA and Audi have also partnered to develop an IOTA Tangle-based mobility system. Although the partners are revealing little information about the Audi E-Mobility Project, experts believe that the upcoming platform explores wars of establishing motor vehicle connectivity.
Ford’s Ethical Cobalt Sourcing
Ford is building electric cars that rely on rechargeable batteries that are made of cobalt. Since the bulk of the global supply comes from DRC, the company is building a Blockchain project for tracking the cobalt s supply chain to ensure that the material is produced in compliance to the highest ethical standards.
Ford has, therefore, partnered with Hyperledger Fabric and IBM Blockchain to develop the Cobalt sourcing platform.
The MOBI Collective
The Mobility Open Blockchain Initiative (MOBI) is a partnership of several automakers including Renault, General Motors, Ford, and BMW.
The mission of Mobi is to introduce Distributed Ledger Technology standards among its members from the automotive sector with the aim of rolling out the standards to the entire industry. Mobi also strives to ensure that the Blockchain infrastructure that members deploy is identical for interoperability purposes.
GM Data Patent
Apart from being a partner in the smart grid and MOBI project, General Motors is also exploring a Blockchain project of its own.
The Detroit – based car marker filed a patent Blockchain innovation that offers to manage autonomous vehicle data. This project is set to enable self-driving cars to automatically pay for services and to access to route navigation data.
Additionally, in February, General Motors contributed $23 million to the Spring Labs Blockchain project that proffers fraud prevention services and identity verification.
Volkswagen Digital Carpass
Volkswagen and IOTA have partnered to connect the IOTA Tangle and in-car computers. IOTA Blockchain offers Internet of Things (IoT) solutions to industries.
Dubbed as the Digital Carpass, the project will enable Volkswagen users to evaluate their vehicle performance and track their mileage. The platform was set to go live in Q1 2019 but has since fallen behind schedule.
Honda and General Motors Smart Grid
Honda and General Motors have liaised to develop a Blockchain-powered smart grid system that aims to connect electric motor vehicles that are about to replace destructive petrol and diesel fueled motor vehicles.
By connecting electric cars on Blockchain, the smart grid will also facilitate the sharing of power in a bid to stabilize power consumption by sharing excess energy. In this regard, electric car owners will be able to earn revenue by selling clean energy easily and conveniently.
The smart grid project is also being developed with the contribution of MOBI collective.
Other Blockchain projects in the automotive sector include; Mercedes-Benz Sustainable Supply Chain, Toyota-MIT Collaboration, Porsche – XAIN Partnership, and BMW VerifyCar System.