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Volvo Committed To Use Blockchain For The Highest Level Of Transparency.
Electric cars are the new trend ruling the conversation. With so many brands now plunging in the pool of electric vehicles, there is a demand for a sustainable batter that drives these cars. Companies are doing active research in this field, and many have come up with the right solution. Simultaneously, it also becomes important that all the components that go in the manufacturing of electric vehicles are sustainable and derived without any damage to the environment. After all, the objective of switching to an electric vehicle is to save the environment.
Hence it becomes paramount that all the components that are used in EV are environment-friendly. While companies make tall claims about it, the automobile manufacturing company, VOLVO, has gone a step ahead, and they have now incorporated Blockchain Technology to maintain complete transparency.
The company has decided to merge its mining process with Blockchain technology. This will help in assessing the sourcing of cobalt which is used in making of the batteries of the EVs.
Volvo and Blockchain
It would not be wrong to claim that Blockchain is slowly making its presence in almost all the business niches, whether healthcare, education, finance, or automobile. Here is how VOLVO is tapping the usefulness of Blockchain and using it for enhancing transparency.
What VOLVO is eying at present is sustainability, and it begins right from the extraction proves. In VOLVO, they are using it with tracing cobalt that finds use in the lithium-ion batteries. The company is a pioneer in this field, and it will enjoy the first-mover advantage. VOLVO aims at ensuring complete transparency when it comes to the sourcing of its raw material, and that comes with the help of Blockchain technology. One of the key features of Blockchain is that it offers transparency and tracking of information. VOLVO is making use of this technology and will be used to trace the mining of cobalt. The customers of VOLVO can use this feature and get to know whether they are investing in the right product or not. This way, VOLVO uses Blockchain technology to assure its customers that they are using only sustainable and certified raw materials.
Blockchain is a digital book with all the information stored via cryptography that ensures the security of information. It makes the DLT platform free from any hacking attack. With this technology, not only will the data be secured, but at the same time, it also ensures complete transparency.
Conclusion- This is one of the use cases of Blockchain technology in the automotive industry. It will expand in the times to come, opening the gateway of opportunities for Blockchain experts. Enrolling for a Blockchain certification course is one such course that will help you master this technology and learn about its use cases. Blockchain Council is a good learning platform that offers online Blockchain certification courses. These industry oriented certification courses and training program helps you master this technology and become an expert. To know more about Blockchain, connect with Blockchain Council today.
Blockchain Council is an authoritative group of subject experts and enthusiasts who are evangelizing the Blockchain Research and Development, Use Cases and Products and Knowledge for a better world. Blockchain technology is more than just a technology, which is emerging rapidly with a vast scope in the future. Blockchain acts as a financial network, software, distributed ledger, etc. Owing to this multitude of benefits and features, companies are now shifting their centralized and traditional working system to this trending and futuristic technology “Blockchain”. Blockchain council creates an environment and raises awareness among businesses, enterprises, developers, and society by educating them in the Blockchain space. We are a private de-facto organization working individually and proliferating Blockchain technology globally. Visit here for more details@https://www.blockchain-council.org/
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