VeChain To Partner With Chinese Electric Car Company BYD Along With DNV GL
One of China’s largest car manufacturers BYD, creator of electric cars, is now partnering with DNV GL for carbon banking solutions on a public blockchain platform. It will be the first of its kind from a business standpoint, designed to help millions of drivers store data on a public blockchain network. The new carbon bank software provides drivers with carbon credits based on their performance on the road. Drivers who show excellent driving behavior are rewarded with the newly developed credits, partially designed to eliminate carbon footprints left by cars.
Every car provides its own vehicular footprint of sorts that is recorded on the platform by VeChain. Data stored on the company’s blockchain will be used for easy access to analytics and data sourcing. Anyone interested in sharing their data will be able to use the system to do so with ease. One point of the process is to create a new system that ends the constant stream of broken, fractured data looked upon as being inaccurate. Data that isn’t reliable or trustworthy isn’t suitable for use by analysts or anyone other parties concerned.
New technology on the platform is guaranteed to improve the offering and allow companies involved to hit new groups. VeChain is the first blockchain based technology that provides so much trackability for a cars carbon footprint. It will help to improve eco-sustainability by encouraging people to pay attention to their car’s emissions.
BYD is one of the leaders in electric cars, considered a leading innovator in change for green driving. They are benefiting from the new platforms data storage service by gaining a better understanding of driver behavior and car emission data. The effect is going to provide them with yet one more way to improve the way drivers operate their cars and at the same time, how to develop green solutions for them. Also, drivers now have better access to personal information through the platform, which creates healthy self-awareness for them to focus on and stay green.
The world needs green solutions for car manufacturers as well as well as a better way to track driver data. With the new platform, drivers, companies and the government will be able to see reliable information on current emissions among other pieces of data to better respond to the what is needed for greener driving. Drivers who display better driving habits will be rewarded with all sorts of perks by the companies and governing bodies to entice them to keep up or even improve their driving.
One of the first bodies to get involved in the People’s Insurance Company of China, who believes the company ads a new depth to their own. Improved green driving is an excellent solution according to every party involved.
As for DNV GL, they are a completely independent third party who is working closely with VeChain to develop the required data checks on the vehicles involved. They will be using various services to meet the needs of the new platform, including the KYC or Know Your Customer protocol.
What do you think of car manufacturers using blockchain technology for controlling green driving? Leave your responses in the comment section below.