French automaker Groupe Renault announced that they are testing a blockchain project aimed at facilitating the conformity certification of vehicle components.
The new blockchain project: XCEED
Extended Compliance End-to-End Distributed, known as XCEED, was born from Renault’s partnership to develop a blockchain supply chain solution by sharing data with other companies. The project built on the Hyperledger Fabric network was initiated in cooperation with IBM. XCEED allows many processes to be carried out with the blockchain, especially monitoring and verifying the legal compliance of vehicle components. Renault tested the XCEED in Douai, and it was a great success, processing more than one million documents at 500 transactions per second.
XCEED shares compatibility information between parts and car manufacturers. Renault said the platform has accelerated information sharing, bringing it to real-time delivery. The automaker announced that XCEED has created a trusted network to share data in confidence.
Renault is supporting innovation and blockchain
Blockchain technology is a tool that can be used to transform the automotive industry, says Odile Panciatici, Vice President of Renault Group. According to Panciatici, technology can play an active role in connecting computer systems, databases and stakeholders in such a sector where many different large companies take part.
Renault continues to show itself in the blockchain and cryptocurrency space. Three years ago, the automotive company, which wanted to take advantage of the blockchain, introduced a platform where customers can record all vehicle information in an aerodynamic, sabotage-protected and secure digital vehicle maintenance book. Groupe Renault announced on its official website that it was building a prototype for a digital vehicle maintenance book built in collaboration with Microsoft and VISEO and leveraging the power of blockchain technology.