AT THE EVENT, BMW WILL DISCUSS THE INTRODUCTION OF BLOCKCHAIN IN THE AUTOMOTIVE INDUSTRY

BMW became interested in blockchain last year, in particular the use of technology to protect customer data used on their cars.

Today, the company launches the Mobility Open Blockchain initiative, which will bring together members of the consortium founded by BMW Group, as well as representatives of well-known technology companies from around the world, startups and blockchain specialists at the BMW group center in Munich.

The main purpose of the two – day event is to exchange knowledge and experience, as well as to discuss and promote common standards for the use of blockchain technology.

In 2018, BMW tested a concept that demonstrated how customers can use the VerifyCar app to track their car’s mileage, verify its authenticity, and share that data with third parties via blockchain.

BMW Group also intends to use blockchain to track the origin of individual parts and components through its partners – this principle has been successfully tested by BMW Group as an additional confirmation of the concept, after which a pilot project was launched at the plant in Spartanburg (USA) to study the multi-level international supply chain.

The project will be ready by the end of 2019. According to the developers, it will contribute to the wider implementation of the blockchain in the procurement network and suppliers of BMW Group.