The Blockchain in car manufacturing companies
Car manufacture BYD will be heading into a carbon-neutral future, BYD makes plug-ins for electric cars that reduce carbon emissions in the atmosphere. The company has started a partnership with DNV GL and the Blockchain based company VeChain to use proof-of-concept framework. BYD has started offering carbon credits to customers for the reduction of emissions, after the completion of its work on a carbon banking solution for cars. The car manufacturer also plans on using this solution for trains and buses.
Carbon Banking solutions together with Vechain
The lifecycle management solution of Vechain will help car users to get carbon credits, depending on the user’s carbon reduction and driving performances. This Blockchain project that aims to give a solution to emission tracking will help in the reduction of carbon footprint worldwide, this solution will be able to be applied to millions of vehicles. This is what the VechainThor Blockchain is doing and being used for. This provides easy sharing of data, Analytics and management.
The president of BYD Automotive Intelligent Ecological Research Institute Shu Youxing commented that “This technology not only improves our current offering but allows us to create completely new markets. The unique aspects that VeChain provides will empower carbon monitoring development and sustainable ecosystems. This solution is a glimpse into what we think we can achieve through this partnership.”
The possibility of an internet of vehicle
BYD will be using the technology to provide data accessibility to manufactures, automobile markets, and pioneers. The repair shops will work like data providers for gathering information about a vehicle as damages, maintenance and Kilometers count. This brings great benefits to users of the car as well, so there are a lot of opportunities for data ownership to enterprise and consumers of the service. VeChain has also partnered with the Insurance company of China (PICC) in order to make developing solution towards this project.
The Vechain platform has a good opportunity to show the value of the platform, Vechain’s Sunny Lu stated that:
“As the global leader in green car manufacturing, BYD offered us the opportunity to pioneer real change. It takes innovators like BYD to make the world a cleaner place. Carbon banking will be a new reality for billions.”
What are your thoughts on these developments going on in the blockchain space? leave a comment below to let us know.
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