Leading car manufacturer Volkswagen AG are putting blockhain and crypto technology to real use in another significant endorsement from an industry giant.
Explaining their intentions on Twitter, the company outlined several areas in which both the tech itself and crypto-assets are being used:
Bringing #blockchain systems to the road: We’re working full steam ahead on making super-safe #cryptosystems available to our customers. For filling the tank, unlocking your car – and all kinds of other possibilities: #bitcoin #ethereum #iota
— Volkswagen Group (@VWGroup) August 8, 2018
Blockchains on the Road
In their post on their website titled “Putting blockchains on the road,” the company further describes their enthusiasm for the space and the “enormous” potential they believe it affords the automotive industry.
Although it is hard to ascertain specifics from the posts, the company outlines “maintenance, logistics, self-driving vehicles and specialized solutions such as tamper-proof odometers,” as several of the areas they view as ripe for the tech.
Benjamin Sinram and Nicolai Bartkowiak, of Volkswagen Group IT, according to the post are working “full steam ahead” to bring the technology into real use. Bartkowiak explained:
Blockchain technology also offers a lot of opportunities when it comes to self-driving vehicles. It can protect cars from hackers better than other technologies, and help with automatic payments at fueling stations or car washes.
While details are yet to emerge of how the integration will operate, IOTA foundation board member Ralf Rottmann in June expressed his enthusiasm for the company’s openness to the IOTA token:
#Volkswagen is all in on @iotatoken at CeBIT. So cool to see a fully integrated solution with everything coming together! #permissionless #innovation pic.twitter.com/GgSraJJF3l
— Ralf Rottmann (@ralf) June 11, 2018
While many industry-leading companies have made significant moves into the blockchain space, it will be encouraging to the crypto community that a company of Volkswagen’s size and scope is interested in the crypto-assets themselves as well as the broader distributed ledger tech that has many companies enthused.