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German Conglomerate Siemens Interested in Utilizing Blockchain Solutions for Carsharing

Global powerhouse Siemens has expressed an interest in using blockchain-based solutions, particularly in the betterment of the transportation industry. 

Blockchain Technology

In a report recently published in Forbes, Andreas Kind, Siemens Corporate Technology head of blockchain and cybersecurity, revealed that the company is considering integrating blockchain technology into car sharing for its subsidiary – Siemens Mobility. 

Enterprise CarShare’s official website explained carsharing as renting or using a car for a specific but short period of time. A prime example of carsharing is rental service company Zipcar. 

Kind pointed out that one significant issue with this kind of sharing system is the fueling card, which would allow renters to refill the gas. Unfortunately, the technology used by the cards is inconvenient for the drivers and the companies. He explained that customers face several challenges with this system. For instance, the cards can only be used at certain stations and they’re also easily stolen. 

He added that from an industrial viewpoint, this is a prime example of a need for technology that will bring together various participants that don’t totally trust the other. He believes a blockchain solution can be valuable in this context. 

Focus on Transportation Industry

Siemens is also looking into other areas in the transportation industry that can benefit from blockchain solutions. 

The company’s Corporate Technology group is said to have presented one potential blockchain-powered solution for a “blockchain smart parking” at this year’s Bosch Connected World event. 

The Forbes report also stated that the multinational company is also looking into blockchain use cases for manufacturing and supply chains. Siemens is said to be interested in utilizing a permissioned blockchain. 

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