Automotive

Soon, owners of Electric Vehicles (EV) will have the chance to benefit from the first-ever blockchain car charging network.

Automobili Lamborghini S.p.A, an Italian automotive brand and manufacturer of luxury sports cars and SUVs based in Sant'Agata Bolognese, is using the Salesforce distributed ledger technology (DLT) – blockchain - to verify its vintage vehicles.

Volvo Cars, a Swedish luxury vehicles firm and a subordinate of the Chinese automotive firm Geely, has manufactured the first-ever cars using reprocessed cobalt delineated with the help of blockchain tech and has further entered an isolated initiative to oversee cobalt from different mineral-rich countries including the DR Congo (DRC), Uganda and others.

Mercedes’ parent corporation, Daimler AG, a German global automotive company headquartered in Baden-Württemberg, has declared a partnership with four other giant startups including a European distributed ledger tech (DLT) interface, to create a blockchain solutions for cars dubbed a mobility blockchain platform (MBP), a distributed software platform which enables mobility as a facility with end to end encryption.

General Motors Ventures investment section has agreed to collaborate with a blockchain startup to work on a protocol and also develop a fraud protection system for the auto financing sector. General Motors (GM) will put much attention, knowledge and money to invest in this project, so as it can reach to its fruition.

Digital Vehicle Dossier enables users to certify the life cycle of their vehicles. The project mainly looks at blockchain to comprehend the first automotive application of this nature. The App will soon be available via the iOS and Android App Stores.

ACI and EY have officially proclaimed a blockchain technology-based Digital Vehicle Dossier project. EY has chosen to use a hybrid blockchain tech for this project so as to process a bulky number of transactions. They aim to create an ecosystem of interoperability.

Blockchain technology has found applications in many industries, even the most unexpected. A recent study revealed that blockchain is going to become a disruptive force in the automotive sector. A major breakthrough is expected to happen within the next three years.

ShareRing, an Australian startup aiming to revolutionize the sharing economy with blockchain, has been announced as one of the tech companies participating in the brand new MOBI consortium.