Audi will use Blockchain technology for its distribution network. German auto giant Audi tests Blockchain technology for physical and financial distribution transactions. With its new solution, Audi aims to increase security and transparency in its global supply chains.
Audi has successfully tested technology based on IBM’s Hyperledger Fabric
Audi has successfully tested IBM’s Hyperledger Fabric It released a Proof-of-Concept (PoC) of its Blockchain system last year after successfully testing the technology based on its Fabric.. Based on positive feedback, Audi management decided to move the project beyond the PoC stage.
Composed of representatives from various organizational units such as finance, production, logistics and IT, the research team is investigating the representation and documentation of international logistics processes, including financial settlement.
Exploring various uses of Blockchain for the Audi distribution network
In addition, the team has explored the various uses of Blockchain to improve the security of data transmissions, the efficiency of supply chains, the management of local energy grids and the management of digital assets.
Audi AD’s Treasury Group President Alexander Dietmeier said in an interview with Die Produktion that Blockchain has the potential to change various working principles in industry companies and opens up new possibilities.. Dietmeier also emphasizes that he believes Audi will offer cryptocurrencies as a payment method in the near future.
BMW has announced its own trials of Blockchain technology at Mercedes and Porsche
BMW, Other German automakers such as Mercedes and Porsche also recently announced their own trials with Blockchain technology.
Mercedes Benz is launching the MobiCoin cryptocurrency
Mercedes, a subsidiary of the Daimler AG automotive group Benz launches MobiCoin, a cryptocurrency that will reward drivers for environmentally mindful driving. Car manufacturer Porsche is exploring the use of Blockchain applications in its vehicles in collaboration with Berlin-based startup XAIN.
BMW plans to partner with a Blockchain startup
BMW plans to expand its portfolio by partnering with a Blockchain startup. It is known that BMW is collaborating with a Blockchain initiative to ensure that the cobalt used in its products is obtained ethically.
Cointelegraph