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Siemens is Planning to Use Blockchain to Design a Car-Sharing Service

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Siemens is Planning to Use Blockchain to Design a Car-Sharing Service

According to a report by Forbes, the German automation and IT giant Siemens is planning to apply blockchain technology to various existing technology markets. As per the report, these set of plans includes the use of blockchain technology for the car-sharing market.

Similar use cases of blockchain for transportation are already available. However, any interest from a huge corporation like Siemens to enter this market is unprecedented and can become a game-changer in many ways.

Growing Interest in Blockchain Application

Many global leaders in technology are showing their interest in blockchain-based technological solutions. These companies are trying to apply the technology as an extension of their corporate services. Similar is the case for Siemens.

According to Andreas Kind, the head of cybersecurity and blockchains for Siemens Corporate Technology, the company is in a phase of “exploration and discovery” of use cases which are related to the company’s business. Kind mentioned the company is presently looking into certain areas like supply chain, mobility, and manufacturing to name a few.

Why Transport and Blockchain?

At the Bosch Connected World Conference, 2019, Siemens’ corporate technology team presented a concept of proof for a blockchain-based parking system. The reason for the use of blockchain is to reduce the hassle involved in the ride-sharing process.

While the advantage of ride-sharing is being identified by several users, many are driven away by the technicalities involved in it like refueling from particular partner gas stations. With a blockchain-based platform, everything from garage services and fuelling to parking will be coordinated seamlessly over a single network with complete transparency. Siemens Mobility is an existing daughter company of Siemens AG. The blockchain-based system can be integrated with the existing operations of the company. Such prospects seem to be clear from Andreas Kind’s clarification about the emerging opportunities in the mobility sector.

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I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.

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