Home » Siemens Intends to use Blockchain Tech to Facilitate Carsharing

Siemens Intends to use Blockchain Tech to Facilitate Carsharing


Siemens — the self-proclaimed global giant in automation, electrification, and digitalization — has recently suggested that it is ready to adopt various blockchain-based solutions. According to the Forbes July 15 report, the company wants to explore blockchain use in the transportation sector.

Andreas Kind — cybersecurity and blockchain head at Siemens Corporate Technology — explained clearly that Siemens would use Siemens Mobility (a subsidiary of Siemens) to integrate blockchain technology into carsharing.

Enterprise CarShare website describes carsharing as using or renting a car for a short time period. Zipcar is an excellent example of a firm that offers rental service.

Although fueling cards usually helps car renters to refill on gas, it also presents a hard challenge in the system. Kind explains that customers will have to face numerous restrictions when using the product. For instance, the card can only be used at specific stations which predisposes one to theft.

However, with a blockchain solution, Kinds believes that the technology can be improved:

“It’s not only inconvenient for the drivers, it’s inconvenient for the companies because fueling cards get stolen [and] they get sold on the internet […] That’s an example where, in an industrial context, you need something, a technology, that brings together different participants that [don’t] fully trust each other […] That’s exactly where blockchain can add value.”

Siemens also intends to implement a variety of blockchain solutions within the transportation sector. At Bosch’s 2019 Connected World conference, Siemens’ Corporate Technology presented a blockchain solution proposal dubbed — ‘blockchain-based smart parking.’

Siemens is researching on permissioned blockchain use, but it is still at the testing and discovery phase — where the viability of various uses is explored. In addition, the firm wants test blockchain tech on supply chains and manufacturing sectors.

According to Grand View Research’s suggestion earlier in the week, blockchain is evidently a key digital technology driver for the global transportation management systems (TMS) sector’s market growth. For that reason, the TMS market — in relying on blockchain and other technological innovations — is anticipated to register a 16.2% compound annual growth rate, which will eventually worth $198.82 billion by 2025.

Source: https://cointelegraph.com/news/siemens-considers-using-blockchain-tech-for-carsharing

About the author

James Lovett

James Lovett

James is a passionate writer on cryptocurrency industry and other disruptive technologies in the crypto world. He has written several crypto articles for numerous websites and blogs over the years.

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