BMW came up this week’s with news regarding the use of Blockchain technology to track components in the international supply chain.
The project called PartChain was created because of complex supply chains that register a large number of different suppliers and the consequent need to communicate with each of them.
PartChain simplifies the process and allows you to track the entire path of the component from creation to the factory.
This solution will give the company better overview and control over its supply chain when all suppliers are on a common blockchain platform.
“PartChain enables tamper-proof and consistently verifiable collection and transaction data in our supply chain,”
“This move is designed to take the digitization of purchasing at the BMW Group to the next level. Our vision is to create an open platform that will allow data across supply chains to be exchanged and shared safely and anonymized across the industry. ” said Andreas Wendt, a member of the Board of Management of BMW AG responsible for Purchasing and Supplier Network.
As part of the PartChain project, Bmw is also working with Amazon Web Services and Microsoft Azure, which mediate cloud services.
For BMW, however, this is not the first contact with Blockchain technology, the first PartChain trials were already underway in 2019, and the automaker is also working with VeChain to develop the VerifyCar application, which helps used car buyers to check the actual condition.
BMW also belongs to the Mobility Open Blockchain Initiative and was one of the founders.
Read article: Volvo using Blockchain technology to increase transparency in the way it produces materials
Source: BMW