Renault tests blockchain platform for parts compliance

Published at: Sept. 12, 2020

Luxury carmaker Groupe Renault tested its blockchain project aimed to ease compliance certification of vehicle components. 

The project, Extended Compliance End-to-End Distributed, or better known as XCEED, grew out of Renault’s partnership with other companies to develop a blockchain supply-chain solution by sharing data. It’s built on the Hyperledger Fabric network and deployed in collaboration with IBM. XCEED tracks and certifies regulatory compliance of vehicle components. 

Renault tested XCEED in its Douai plant and processed over a million documents with 500 transactions processed per second. 

XCEED shares compliance Information between parts manufacturers and those who make the cars. Renault said the platform speeds up information sharing, bringing it to real-time delivery. XCEED, the carmaker explained, creates a trusted network to share data with confidentiality.

Renault’s partners for the project include Continental, Faurecia, Plastic Omnium and Saint-Gobain. It was first announced in 2019.

The carmaker said the need for a better compliance solution arose as new market surveillance regulations were implemented Sept. 1. The European Union’s Directive 2007/46/EC, revised in 2020, establishes better monitoring of new vehicles and parts to meet safety and environmental standards. Renault said its entire production chain “has to adjust its structure” to respond to shorter timeframes set in the policy. 

Odile Panciatici, blockchain vice president at Groupe Renault, said: 

“The XCEED project we initiated is a powerful illustration of Groupe Renault’s capacity to innovate. We are convinced that blockchain is a vector for transforming the automotive industry. Blockchain technology really comes into its own in a vast ecosystem involving a number of different companies, providing a link between the partners’ various processes, computer systems and databases. There are multiple uses for this type of technology in the automotive industry, where we have exchanges with countless actors from outside the company, such as suppliers, clients and independent distributors.”

This is not Renault’s first foray into blockchain technology. Renault, along with other automotive giants BMW, GM, and Ford and technology companies IBM, Hyperledger, Bosch and IOTA, worked on the Mobility Open Blockchain Initiative (MOBI). It created a database of Vehicle Identity Numbers on the blockchain. BMW also made a blockchain-based supply chain solution.

Tags
Related Posts
Galaxy Interactive raises another $325M fund aimed at metaverse and next-gen games
Galaxy Interactive, a venture capital firm focused on next-generation interactive technology, has announced it has raised $325 million for its second fund from 70 different investors. The fund is focused on virtual and augmented reality, artificial intelligence and blockchain-based games. In a Tuesday announcement, Galaxy Digital, the majority owner of Galaxy Interactive, stated that $150 million from the fund has already been allocated to new portfolio companies, including Republic, 1047 Games, Elodie, Roar, Art Blocks and Masterworks, with other additional investments to be announced in coming months. Established in 2018 by general partners Sam Englebardt and Richard Kim, the company …
Technology / Oct. 20, 2021
Digital decentralization is just the beginning. The real world will follow
Decentralization is not a luxury; it is a necessity. In a prescient article in The Atlantic back in 2012, science fiction writer Bruce Sterling referred to the likes of Amazon, Facebook and Google as “The Stacks,” predicting the insidious power grab that has happened in the last decade. As the giant tech companies consume more and more of our lives, the fact that technologies that enable us to push back against them are being developed is not only encouraging: it is essential. Since Bitcoin (BTC) began the process of decentralizing payments in 2010, we have seen the process of disintermediation …
Decentralization / Dec. 20, 2020
Chinese Province to Use QuarkChain for Construction Resource Management
Blockchain firm QuarkChain has announced a partnership with the ecological department of Northeastern Chinese province Shanxi. QuarkChain and the Shanxi province will jointly develop an environmental governance platform on blockchain (EGPB). This platform will be used by the local administration for construction resource management and trading. QuarkChain stated that, while limited construction materials are mostly located in a specific area, they are widely distributed to many places, creating the need for a management system that can better supervise the development and use of those resources. EGPB will be used for tracking resources along their supply chain. The network’s node operators …
Technology / July 8, 2020
The race for semiconductors: Are crypto miners taking the lion's share?
Over the last couple of years, the world has been grappling with the lack of semiconductors, which are the substances that conduct electricity between metals and isolates. The most famous semiconductor is silicon. If correlating this concept to electronic devices, then the key semiconductors are processors and other microcircuits that are present in almost all devices that people use every day, from smartphones to cars. In 2021, semiconductors hit a world record in terms of sales. Electronics production also boomed, with hundreds of millions of complex semiconductors being devoured by gaming consoles. The number of GPUs produced grew to unseen …
Technology / April 7, 2022
Israeli startup to create blockchain chips with $70M of fresh funds
The adoption of blockchain technology is on the rise, with the majority of enterprises looking into the technology in some capacity. As blockchain becomes more pervasive, all types of users will need the most efficient access to the capabilities of this technology. One of the responses to this has been the development of blockchain chips as energy-efficient accelerators. On Feb. 23, the Tel Aviv-based blockchain chip startup Chain Reaction announced it raised $70 million to expand its engineering team for developing its next chip. Alon Webman, the co-founder and CEO of Chain Reaction, said the new chip will be a …
Technology / Feb. 23, 2023