BMW's Blockchain-based Supply Chain, PartChain, For Raw Materials To Launch This Year

Known by people all over the word for their automobiles, BMW, announced they will launch a new blockchain supply solution in 2020, to no less than 10 suppliers.

The new blockchain platform, PartChain has already passed successful testing by BMW last year. Previously the platform's model of the blockchain was to ensure immediate data transparency and traceability for car parts across supply chains in which many international parties are engaged.

Automotive Lighting and 2 BMW Plants Ran the Pilot

The solution pilot for tracking and purchasing front lights had in 2019 involved 2 BMW plants from a total of 31, and 3 locations of the Automotive Lighting supplier. One of the BMW AG’s Board of Management members, Andreas Wendt, who’s also responsible with the Group’s purchase and supply network, said BMW is planning to expand to more suppliers in 2020, precisely to 10 of them.

Blockchain Gets Combined with Cloud Tech

According to Wendt, BMW’s blockchain plan was to use blockchain in order to create a platform that’s open and allows data between the Group and supply chains to be shared safely and anonymously. Since the pilot was used only for component tracking, the plan is for BMW to extend the platform’s applications to manufacturing raw materials. Aside from blockchain, which provides the collection of data and transaction in a tamper-proof way, PartChain employs Microsoft Azure and Amazon Web Services technologies.

PartChain to Be Shared with MOBI

Wendt also said that BMW has the intention to share PartChain with Mobility Open Blockchain Initiative (MOBI) members. MOBI was co-founded by BMW in 2018. It was created after BMW, Renault, Ford and GM decided to collaborate with major blockchain, engineering and tech firms, amongst which the biggest names are IOTA, IBM, Hyperledger and Bosch.

The MOBI Vehicle Identity Standard was created, and it’s a program based on blockchain database for identity numbers of vehicles, supporting digital certificates of ownership, warranty, mileage and identity of vehicle, information that can be kept in an electronic wallet.

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Oana Ularu
Oana Ularu
Curious about what’s going on with all the money in the world, Oana is bringing you the latest news in the crypto world. She’s aware of the fact that you need to know everything that’s happening on the financial scene in order to play the cryptocurrency market, so you can count on her to share with you every little detail on what matters.

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[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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