16 July 2019 15:18, UTC

Siemens, an electronics and automation giant, has shown interest in blockchain-based solutions. In particular, the company is exploring the possibility of using the blockchain in the transport industry, writes Forbes.

According to Andreas KIND, head of the cybersecurity and blockchain division, Siemens seeks to introduce blockchain technology into carsharing via Siemens Mobility, one of Siemens’ subsidiaries.

The head claimed that there is a problem in the industry which is connected with associated fueling cards allowing the car renters to refill on gas. However, the use of the card imposes a number of restrictions on the client — for example, they can only use the card at certain stations; sometimes cards are stolen. Kind believes that this problem can be solved by the introduction of the blockchain:

"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 is also considering other areas in the transport sector to implement the blockchain: a solution for “blockchain-based smart parking” was presented at the 2019 Bosch Connected World conference. The company is also considering options for using the blockchain for supply chains and production.

Image courtesy of Blokt

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