Renault Examines Blockchain for Certification of Vehicle Compliance Svilans
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French automotive giant Renault is testing a blockchain platform called XCEED to certify the compliance of all vehicle components, from design to production.

According to an official press release, the new platform enables greater responsiveness and efficiency at a time of ever-greater regulatory stringency.

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The decision to use the blockchain technology comes after a new market surveillance regulations came into force.

Starting from September 1, the entire production chain has to adjust its structure to respond to the regulatory authorities within shorter timeframes, Renault says.

Groupe Renault Blockchain Vice President, Odile Panciatici, 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."

The XCEED platform is based on "Hyperledger Fabric" blockchain technology developed in collaboration with IBM.

In August, Fuchsbriefe, a German investor magazine, reported that BMW will enter into a partnership with VeChain, a blockchain focused company, to develop a distributed ledger tool to protect BMW's products from counterfeiting.

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According to the report, the VerifyCar decentralized application (dApp) will be launched on the VeChainThor blockchain.

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