Siemens to Use Blockchain for Car sharing, Reveals a Report by Forbes

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With the existing car renting services, the associated fueling cards, which allow the car renters to refill on gas form to be a problem.

According to a report by Forbes, automation and digitalization global giant Siemens is keen on exploring the use of blockchain in the transportation industry.

According to Siemens Corporate Technology’s head of cybersecurity and blockchain, Andreas Kind, Siemens is looking to incorporate blockchain tech into carsharing via Siemens Mobility — one of Siemens’ subsidiaries.Here, carsharing reportedly refers to using or renting a car for a short period of time.

With the existing car renting services, the associated fueling cards, which allow the car renters to refill on gas form to be a problem. These cards are often at the receiving end of a number of restrictions for instance, they can only use the card at specific stations and they are sometimes stolen. Kind believes these issues can be overcome with the technology of blockchain.

Siemens is also considering other areas within the transportation sector for blockchain solutions. Siemens’ Corporate Technology reportedly presented on a possible blockchain solution for “blockchain-based smart parking” at Bosch’s 2019 Connected World conference.

According to the report, Siemens is also considering blockchain use cases for supply chains and manufacturing. Siemens is also apparently leaning toward using a permissioned blockchain, however, the firm is still in the testing and discovery phase, and is still reportedly exploring the viability of various use cases.

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Siemens to Use Blockchain for Car sharing, Reveals a Report by Forbes

by News Desk Time to Read: 1 min
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