Somaca issued the following announcement on May 14.

The Renault Group has been working on blockchain technology since 2015. Appearing in finance, it allows real-time secure exchanges within a network, without the risk of falsification, while respecting data ownership. A promising tool for the automotive industry through the gains in efficiency, productivity and responsiveness it provides.

Secure and certified network exchanges between partner companies or between members of an ecosystem (a company and its customers or suppliers for example). Exchanges in real time to meet reactivity requirements. Here is what blockchain, or “chain of blocks”, offers in French. Thanks to this technology, the data in the blockchain is unalterable, tamper-proof and stored in a decentralized and secure manner.

BLOCKCHAIN TO SECURE EXCHANGES

In the blockchain, any new information does not erase the old information but is encapsulated in a new digital register called "block". The latter is verified by the machines on the network by means of algorithms controlling in particular the legitimacy of the sender and the quality of the data. Once validated, the block joins the unalterable block chain, hence the name "blockchain".

A car manufacturer, its suppliers, its equipment manufacturers, its manufacturers and its customers are all ecosystems in which the needs for transversality, speed, transparency in information are crucial. Blockchain technology is the opportunity to move from the traditional customer-supplier relationship to a more lasting partnership relationship.

BLOCKCHAIN TECHNOLOGY AND THE RENAULT GROUP

For the Renault Group, it should be used as a multi-company collaborative digital tool within the automotive industry. Thus, it is a source of productivity gains and collective intelligence for the companies that use it. For the customer, it allows for example to certify the repair and maintenance information of his vehicle during its resale

For the Renault Group, the automobile of tomorrow will be electric, connected, autonomous and shared. A more technological future than ever which will have to adapt to new uses, new needs and regulatory constraints. Faced with these challenges, the Renault Group considers blockchain as a vector for the transformation of the automotive industry.

Twenty projects to deploy this technology have been identified, in particular on the traceability of financial transactions, on exchanges within the supply chain and on those in the sales network. Some of them will be deployed very soon.

Original source: https://group.renault.com/news-onair/actualites/la-blockchain-vecteur-de-transformation-du-futur-de-lindustrie-automobile/