Siemens Considers Using Blockchain-Based Tech In Transportation Industry

Siemens, a Self-proclaimed electrification, automation and digitalization global giant shows inclination towards adopting blockchain-based solutions. Siemens plans to employ blockchain in the transportation industry as reported by Forbes on July 15.

Andreas Kind, the head of cybersecurity and blockchain at Siemens Corporate Technology stated that the firm is looking to incorporate blockchain tech into carsharing via Siemens Mobility, one of Siemens’ subsidiaries. As per the Enterprise CarShare website, carsharing is refered to using or renting a car for a short period of time, citing the rental service Zipcar.

Kind further elaborated over a issue with this system, that is related to associated fueling cards, which allows the car renters to refill on gas. However, the card is subjected to certain restrictions such as they can only use the card at specific stations and are prone to theft. 

As per Kind, such technologies could be improved via a blockchain solution:

“It’s not only inconvenient for the drivers, it’s inconvenient for the companies because fueling cards get stolen [and] they get sold on the internet […] That’s an example where, in an industrial context, you need something, a technology, that brings together different participants that [don’t] fully trust each other […] That’s exactly where blockchain can add value.”

Siemens also considers incorporating other transportation sector for blockchain solutions. Reportedly, Siemens’ Corporate Technology presented a possible blockchain solution for “blockchain-based smart parking” at Bosch’s 2019 Connected World conference. 

As per the report, Siemens is also considering to employ blockchain for supply chains and manufacturing. He is also leaning towards using permissioned blockchain, however, it is still in its testing and discovery phase and reportedly exploring the viability of various use cases.

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