Many automotive companies started to use blockchain technology for different purposes. In fact, they found blockchain as a reliable platform to share and store data. One of the main uses of blockchain in automotive industry is in the supply chain and manufacturing process. Recently, Renault employs blockchain technology for parts compliance.
Renault employs blockchain technology for parts compliance; the company collaborate with other Fin-tech companies
The Renault group is a French luxury car maker. Recently, they are testing a blockchain platform, which aimed to ease compliance certification of their product components.
This project known as XCEED (Extended Compliance End-to-End Distributed). In fact, The project is the result of partnership of Renault with other related companies. In fact, they are collaborating to develop a blockchain supply-chain solution. The collaboration is going with IBM and the project is built on the Hyperledger Fabric network. In fact, the XCEED aim is to track and certify regulatory compliance of product components.
Renault is testing XCEED
Renault tested XCEED in its Douai plant. They could process over a million documents by using the platform. In fact, the platform is able to process 500 transactions per second.
XCEED share the compliance data and information between parts and vehicle manufacturers. Renault announced that XCEED made the information sharing process much faster. In addition, it created a reliable network to share data with confidentiality.
This project is partnering with Faurecia, Continental, Saint-Gobain and Plastic Omnium. This collaboration announced in 2019.
Renault explained that they employed the new technology due to the new regulation by European Union’s Directive. In fact, This new regulations force manufacturers to establish better monitoring of their products and parts. In fact, all the products should meet the safety and environmental standards. Renault added that they have to adjust their entire production line with the new technology in order to be able to have a shorter respond. It means, they are trying to meet the time-frame, which set in the policy.