Future Research - BMW Blockchain Integration

The BMW Group is using innovative digital technologies to optimize its processes; the next step in the line of process is integrating a Blockchain initiative, the World’s Largest Automakers, Along with MOBI, Announce a Joint Proof of Concept for the First Vehicle Identity on Blockchain, The Mobility Open Blockchain Initiative (MOBI) is working with BMW, Ford, GM, Groupe Renault, Honda, and other major automakers to develop a multi-stakeholder Proof of Concept (PoC) for a blockchain-based Vehicle Identity (VID).

MOBI members started a cooperative project to test the first VID standard, a crucial step toward the new blockchain-based economy of movement. The standard creates a trusted digital identity for vehicles, unlocking the potential for a mobility payments network and enabling direct and low-cost micropayments between various parties.

Applying the Vehicle Identification (VID) standard in the automotive industry can revolutionize how vehicles interact with each other and with their surroundings. With blockchain technology, the VID standard provides vehicles with a secure and trusted digital identity. This digital identity opens up numerous opportunities for developing new mobility services and technologies. For example, with a trusted digital identity for vehicles, it becomes possible to develop a mobility payments network that enables direct payments between vehicles, grid integration for electric vehicles, usagebased services, fleet management, congestion pricing, and carbon footprint management. The use of smart contracts will ensure that these transactions are secure, transparent, and efficient.

The BMW Group started the PartChain project to provide seamless and immediate traceability of components and data transparency in supply chains. Using cloud and blockchain technology ensures the origin of components can be tracked between all partners without the risk of manipulation. In 2019, two BMW Group plants and three supplier locations participated in the pilot project, expanding the project and aiming to eventually track critical raw materials from mine to smelter and create an open platform for safe, anonymous data exchange across the industry.

The BMW Group recognizes the need for common standards and control models to maximize the benefits of an open platform that connects partners in their business processes. The company co-founded MOBI in 2018, a cross-industry initiative with 120 leading automotive, mobility, and technology firms to achieve this. The BMW Group leads a working group on supply chain issues within MOBI and aims to promote the adoption of blockchain technology in the mobility sector.