Groupe Renault, one of the world’s largest automotive manufacturers, continues to make significant breakthroughs in blockchain technology. Group Renault has developed a new blockchain-based project called XCEED (eXtended Compliance End-to-End Distributed). This project will ensure that all vehicle parts meet the required requirements.
In the statement made by Groupe Renault, it is stated that serious problems occur especially in the production line and supply chain. With the end-to-end distributed control system, it can be determined whether many different parts comply with the desired standards. Developed with the leading names and brands of the automotive world, the project may soon become known with other brands.
Renault Introduces Blockchain-Based XCEED
The project, based on the Hyperledger Fabric blockchain network, was developed jointly with IBM. The XCEED project will enable all vehicle parts and other parts to be tracked and verified. It is emphasized that this project will be shared with other brands and will be developed in cooperation.
Blockchain technology is no longer limited to cryptocurrencies and has managed to gain use in many different industries around the world. Automotive giants have been seen using blockchain before, and Renault will not be the last. Earlier in the past year, BMW, Ford, Renault, Honda and General Motors had made a major blockchain-based breakthrough.
It is a known fact that automotive giants receive support from crypto money projects such as IOTA, especially for autonomous vehicles.