Audi Is Exploring Blockchain for Distributional Network

German automobile producer Audi is checking out Blockchain for its physical and economic distribution processing, on March 30. With its new solution, Audi tries to grow the safety and transparency in its global deliver chains.

The auto producer released a proof-of-concept of its Blockchain system remaining 12 months, after successfully checking out the blockchain technology based on IBM’s Hyperledger fabric. Because of nice comments, Audi’s control decided to improve the venture beyond the proof-of-concept level.

Audi

The studies team made from representatives from numerous organizational units such as finance, manufacturing, logistics and IT are presently exploring the illustration and documentation of worldwide logistic processes, which includes financial settlement. Moreover, the group is exploring numerous use cases for Blockchain to enhance the protection of information transfers, effectiveness of supply chains, control of nearby power grids and for the control of digital entities.

Alexander Dietmeier, Head of organization Treasury at Audi AD, stated in an interview with Die Produktion that Blockchain has ability to change numerous operating standards within business organizations and opens up new opportunities. Dietmeier additionally stressed that he believes it probably that Audi will be providing digital currencies as a payment method in the nearest future. Different German automobile producers including BMW, Mercedes and Porsche have currently hit the headlines with announcements of their personal experiments with Blockchain.

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Mercedes Benz, a subsidiary of the car organization Daimler AG, is issuing its own digital currency MobiCoin to reward drivers for environmentally cautious driving. Carmaker Porsche is exploring the usage of blockchain apps in its vehicles in cooperation with the Berlin-based startup XAIN. BMW is reportedly making plans to expand its portfolio by collaborating with a Blockchain startup and collectively developing a system for ethical sourcing of cobalt for its merchandise.

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