BMW, Ford and Honda had announced the development of a blockchain for vehicle identification in 2019. And the project has moved forward, since manufacturers now announce that they have moved to phase 2, which will fight against the falsification of data linked to vehicles.
BMW, Ford and Honda join forces in blockchain project
As we explained to you over a year ago , the blockchain that BMW, Ford and Honda will use is a project of the Mobility Open Blockchain Initiative (MOBI). Its purpose was to generate a unique identifier for vehicles, which will be stored in an unalterable manner on the blockchain. The first phase focused mainly on this identification, and evoked future benefits for drivers, such as the automatic payment of parking and motorway fees for example.
And this project is entering a new phase, as explained in a press release from Bitcoin Rush. The “Vehicle Identity” (VID) in version 2 will allow sharing of traceability information on repairs that have been carried out on a vehicle. This will thus protect against common frauds, such as modifying the odometer or omitting accidents in the reports.
An inviolable history
The data is stored in a distributed ledger that can be shared between service providers and countries, so that a vehicle is instantly identifiable. This is in order to “ provide a tamper-proof history to buyers , regulators and insurance companies , which helps reduce inconsistencies in terms of information . “
Andre Luckow, Head of Emerging Technologies at BMW, explains that this is a step in a larger strategy for the manufacturer:
“The architecture of the VID-2 is an important milestone for the transformation towards an ecosystem of harmonious mobility and trust . „
MOBI explains that this platform will also improve the supply chain for manufacturers, the supply of electric vehicles, as well as the data used for autonomous vehicles.