Volkswagen, Leading German Automobile company has made an announcement about its plans to use the blockchain technology. As mentioned in their announcement, the company plans to use blockchain systems for filling the tank, unlocking the car, and all other applications which could be possible on the blockchain technology.
It’s one of the first automobile companies to announce the usage of blockchain. The company made a statement, “Crypto technology offers enormous potential for maintenance, logistics, self-driving vehicles, and specialized solutions such as tamper-proof odometers.”
Bringing #blockchain systems to the road: We’re working full steam ahead on making super-safe #cryptosystems available to our customers. For filling the tank, unlocking your car – and all kinds of other possibilities: #bitcoin #ethereum #iota
— Volkswagen Group (@VWGroup) August 8, 2018
Earlier in June 2018, the company partnered with carVertical, a Lithuania-based company which developed car history reports on blockchain, which already hinted about the company’s interest in the decentralized technology, but it wasn’t known to the public that the company fell too much into the technology, until now.
The company doesn’t reveal about the other applications it is working on, but it does reveal one of the common features of blockchain which has made the technology attractive to them. It is “Security.” They also mention in the post that Bitcoin, which was launched in 2009 is an application of blockchain and Till date, no one has been successful in hacking the Bitcoin network.
But, Nicolai Bartkowiak, from Volkswagen IT Group explained, “Blockchain technology also offers a lot of opportunities when it comes to self-driving vehicles. It can protect cars from hackers better than other technologies, and help with automatic payments at fueling stations or car washes.” this could possibly one of the applications a customer could experience in future. However, it hasn’t been confirmed by the company yet.
“We want our customers to become familiar with blockchain systems,” says Sinram.
Sinram and Bartkowiak are studying concrete applications and have built up a network of around 300 employees in the Volkswagen Group. Sinram also adds,
“Our contacts among the different brands enable us to work very efficiently. The atmosphere is open, and we’re happy to include interested individuals from any department”
Blockchain is a disruptive technology and with the distributed ledger which can’t be altered without the approval of people on the network, alteration seems to be impossible. As we reported many big companies are now preparing for adopting the technology, Here are some highlights covered by the BlockPitch team.
