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For quite a while now, Siemens has shown a growing interest for blockchain-based solutions. The global, automation and digitalization giant has now begun to explore the potential of implementing blockchain tech in carsharing.

Andreas Kind, Siemens’ head of cybersecurity and blockchain, says that Siemens is looking into implementing blockchain tech into carsharing via Siemens Mobility.

He believes that Siemens is doing the right move by following the trend of mainstream giants who are looking for ways to incorporate blockchain tech.

Carsharing is basically the rent of a car for a very short period of time. The best example of such services would be the rental service Zipcar.

Carsharing and fuel cards

One of the biggest issues with carsharing is the association with fueling cards. These cards allow renters to refuel, but place countless restrictions on the customer and are often stolen. Kind states:

“If a client as a carsharing subscription, he doesn’t have to worry about parking or car fueling, everything is simply there. This is the perfect example where technology can bring together different participants who don’t necessarily trust each other.”

Carsharing however, is just one of the areas where Siemens looks to incorporate blockchain technology. The biggest perk of blockchain tech is that it can enable a much more frictionless way of transacting.

According to Kind, this can be incorporated into delivery services, providing garage services, repairs, etc. “Blockchain technology really has the potential to move a specific industry 10 years into the future.”

Earlier this year, at Bosch’s 2019 Connected World Conference, Siemens’ Corporate Technology team revealed that they are working on the concept of blockchain-based smart parking.

Grand View Research, recently released a market report, which revealed that blockchain is one of the main technologies that drive global growth in the global transportation management systems (TMS) sector.

The research points out that the TMS market is expected to reach the staggering $198 billion by 2025. This is an effective growth rate of 16.2%.

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About Ian Karamanov

Based in Sofia, Bulgaria. Writing about cryptocurrency, politics, finance and esports. Keen interest in unedited history, spirituality and freedom.

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