Luxury car maker Groupe Renault has tested its blockchain project to meet certification requirements for vehicle components.

The Extended Compliance Comprehensive Distributed Project, or known as XCEED, arose out of Renault’s partnerships with other companies to develop a blockchain supply chain solution through data sharing. It is built on the Hyperledger Fabric network and distributed in collaboration with IBM. XCEED monitors and certifies vehicle component compliance.

Renault tested XCEED in its Douai facility and processed more than 1 million documents at a rate of 500 transactions per second.

XCEED shares compliance information between sub-manufacturers and vehicle manufacturers. Renault said the platform is accelerating the exchange and delivery of information in real time. The automaker explained that XCEED creates a secure network for secretly sharing data.

Renault project partners include Continental, Foresia, Omnim Plastic and Saint-Gobain. This was first announced in 2019.

The car manufacturer said the need for a better regulatory compliance solution arose when new market surveillance rules were introduced on September 1. European Union Directive 2007/46 / EC, which was revised in 2020, mandates more effective monitoring of new vehicles and parts to meet safety and environmental standards. … Renault said the entire value chain “must adjust the structure” to meet the shorter time frame specified in the policy.

Odile Panchatici, Groupe Renault’s Vice President of Blockchain:

“The XCEED project that we have started is a convincing demonstration of Groupe Renault’s ability to innovate. We are convinced that blockchain is the vector of automotive industry transformation. Blockchain technology truly manifests itself in a huge ecosystem, in which a number of different companies participate, and provides connectivity between different processes, computer systems and partner databases. . This type of technology can be used in the automotive industry, where we share information with countless players outside of the company, such as suppliers, customers, and independent distributors. ”

This is not Renault’s first attack on blockchain technology. Renault has worked with other auto giants BMW, GM, Ford, technology companies IBM, Hyperledger, Bosch and IOTA with the Mobility Open Blockchain Initiative (MOBI). Create a database of vehicle identification numbers on the blockchain. BMW has also created a blockchain-based supply chain solution.

Source: CoinTelegraph