The ITC team recently visited the Guomai Technologies headquarters in Fuzhou. Guomai Technology is China’s leading information and communications technology service provider. There, they and met with the chairman and CTO, as well as technical members of the National Pulse Research Institute. Both parties discussed future infrastructure for the Internet of Vehicles.

Internet of Vehicles is one of the core businesses of Guomai Technologies. T-BOX* has been used by hundreds of thousands of cars owners to help manage car data and facilitate smart travel. Decentralized and distributed features make blockchain with the Internet of Vehicles an inevitable trend.

The ITC team believes that the core value of the blockchain in vehicle networking is the control of data.

Through blockchain and distributed ledger technology, ownership can be clearly defined and data can be traced. The data production value can also be accurately recorded, thereby allowing data owners to process the data value.

Blockchain solve two main problems for vehicle networking:

■ Who owns the data your car collects?

The Internet of Vehicles is a huge interactive “people-vehicle-road” network, which consists of a massive amount of information such as vehicle position, speed, and route. Smart cars today have already collected a wealth of data, but due to unclear ownership rights, this data cannot be fully utilized or produce full value. Data is guaranteed through distributed ledger technology. This helps clearly define ownership, and a wealth of secured data will promote the application of automobile data in insurance claims, smart navigation, and autonomous driving.

■ How is data protected during processing?

The ITC team believes that there are two ideas for solving security problems in the data calculation process.

The first idea is using a hardware-based solution that controls the calculation process. For example, the Intel SGX solution ensures data is always encrypted and is only decrypted through secure channels when there are access and transaction requirements.

Another idea is guaranteeing the data using an algorithm. For example, homomorphic encryption can perform calculations on encrypted data. However, the efficiency of the homomorphic encryption algorithm is not always practical and will require GPU hardware optimization.

The ITC team will continue to communicate and cooperate with Guomai Technology, exploring blockchain integration with the Internet of Vehicles. Together, they will work to release the massive amount of value locked in vehicle data, and actively empower the smart transportation industry.

Founded in 1996 and listed on the Shenzhen Stock Exchange in 2006, Guomai Technology is a leading provider of information and communications technology services in China. As a pioneer in these fields, Guomai Technology has participated in the drafting and formulation of China’s communication service industry standards.