Siemens plans to integrate blockchain technology into shared cars and has demonstrated a blockchain-based smart parking solution

According to Cointelegraph's July 16 report, Siemens showed great interest in adopting blockchain solutions. According to a report released by Forbes on July 15, the company is exploring the application of blockchain in the transportation industry.

Siemens logo under magnifying glass

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Andreas Kind, head of network security and blockchain at Siemens Corporate Technology, said Siemens hopes to integrate blockchain technology into the shared automotive industry through its subsidiary Siemens Mobility in.

According to the Enterprise CarShare website, car sharing refers to an industry that uses or rents cars for a short period of time. The report cites an example of the Zipcar rental service.

Kinder said that one problem with this system is that it is on the relevant fuel card. Although the card allows the renter to refuel the car, the card is subject to some restrictions on the client when it is used. For example, the renter can only be in a specific The card is used at the station, and sometimes the card is stolen. Kinder said he believes this technology can be improved through blockchain solutions:

“This not only causes inconvenience to the driver, but also causes inconvenience to the company, because if the fuel card is stolen, they will be sold online… In an industrial environment, you need some kind of technology, it can not fully trust The different participants of the other party come together. This is a use case for the blockchain and a place to add value."

Siemens is also considering the use of blockchain solutions in other areas of the transportation industry. According to reports, Siemens Research Institute demonstrated a "blockchain-based smart parking" solution at the 2019 Bosch Internet World Conference.

According to the report, Siemens is also considering the application of blockchain technology to the supply chain and manufacturing. Clearly, Siemens also tends to use licensed blockchains, but it is reported that the company is still in the testing and discovery phase and is still exploring the feasibility of various use cases.

Cointelegraph previously reported that Grand View Research believes that blockchain is a digital technology that drives market growth in the global traffic management system (TMS). Thanks in part to blockchain and other technological innovations, by 2025, the TMS market is expected to reach $19.82 billion, with a compound annual growth rate of 16.2%.