BMW wants to keep the life of its cars on the VeChain blockchain – Cryptonaute

In partnership with VeChain, automaker BMW will launch a decentralized application on the VeChainThor blockchain. The goal: to fight against counterfeiting by allowing the storage and sharing of vehicle data.

The German car maker continues to expand its blockchain investments. In addition to joining a consortium of manufacturers around identification, BMW uses blockchain within its supply chain.

The manufacturer is now exploring a new use case for this technology through the design of a dApp, a decentralized application. For its development, BMW is partnering with blockchain specialist VeChain.

The life of the vehicle recorded on the blockchain

The objective through this dApp is to fight against counterfeiting. Thus, the application will allow the vehicle owner to store information related to his car. Mileage, repairs, additional services … the various data concerning the life of the automobile will be recorded on the blockchain.

This storage will ensure the authenticity of the vehicle's data and therefore provide useful information on its condition, particularly with a view to a second-hand purchase. BMW is out of the question, however, of enforcing the use of its application.

The manufacturer specifies that customers will retain control. They will decide the nature of the data thus recorded. They are also free to choose with whom they can be shared, a garage or a potential buyer, for example.

“If the information matches the data on the blockchain, the recipient will have no doubts as to its authenticity,” a BMW spokesperson told German investor magazine Fuchsbriefe.

The automotive industry seduced by blockchain

For BMW, this is therefore one more step in the adoption of blockchain technologies. Since 2019, the manufacturer has been conducting conclusive experiments in the field of the supply chain.

The group ensures through the blockchain the traceability of components and raw materials entering its supply chain. Dubbed PartChain, BMW's platform leverages cloud solutions like Microsoft Azure and AWS.

Since 2018, BMW has also been a member of the Mobility Open Blockchain Initiative (MOBI) alongside other manufacturers, including Renault, Ford and Honda. In 2019, the organization launched an experiment around vehicle identification. Manufacturers are developing their own standard, VID, the “first blockchain vehicle identity”.

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