Published on February 14th, 2019 | by Subhash Nair0
BMW Group to use Blockchain Technology in an Interesting Way
The hype around blockchain has died down but BMW Group still sees the viability of the underlying technology. In a press release today, the company stated its intention to use blockchain to improve cross-organisational and cross-industry collaboration, on top of trying out new business models.
As an example of its use, they pointed to a successful app, ‘VerifyCar’, that keeps tracks of vehicle mileage and shares it with third parties. Closer to home, BMW’s Spartanburg plant uses blockchains in production and supply chain management to improve traceability, security and operative efficiency.
Eventually, the goal is for the whole industry to use something universally accepted that runs on the technology.