The BMW Group is hosting the Mobility Open Blockchain Initiative’s first European colloquium. From 14 – 15 February, members of the consortium co-founded by the BMW Group will be meeting with representatives of well-known technology companies from around the world, plus blockchain start-ups and specialists, at the BMW Group IT Centre in Munich.
The two-day event is primarily intended to promote and develop common standards for applying blockchain and distributed ledger technologies (DLT) in the mobility industry.
The company believes that this new technology holds great potential for the automotive and mobility industry. Last year, the company also conducted a proof of concept that demonstrated how customers can use the VerifyCar app to keep track of their vehicle’s mileage, for example, verify it and share it with third parties – all driven by blockchain technology.
Conceivable blockchain applications exist throughout the automotive value chain. Blockchains can be used in production and supply chain management to help improve traceability, security and operative efficiency. In complex supply chains, for instance, complete transparency can be achieved with the help of blockchain technology allowing the origin of individual parts and components being traced back via the various partners involved. This principle was successfully tested by the BMW Group in an additional proof of concept, followed by a pilot project which has been launched at Plant Spartanburg (USA) to conduct a detailed examination of a multi-tiered international supply chain.
The company’s long-term objective is to jointly develop an open, independent platform as part of the BMW Group’s consortium work that would enable industry-wide application. This goal cannot be achieved, though, without creating and establishing the necessary standards. Quick to recognise this, the BMW Group was involved in the founding of MOBI in 2018 and is now reaffirming its commitment by hosting the consortium’s first European colloquium. The event’s central focus is the need to work together on universal standards and principles for implementing blockchain technologies.
Source: Press Release