Volvo uses blockchain technology for sustainable battery production. Therefore, Volvo Cars are the first car manufacturers to commit itself to the highest level of transparency and guarantee that the raw materials for the battery, production, and recycling are sustainable.
The sustainable production of
high-voltage batteries is one of the greatest challenges for manufacturers of
electric vehicles. Volvo only uses lithium-ion batteries in its electrified
models which last the entire life of the car.
Maximum transparency through blockchain
technology
Sustainability begins with the
extraction of rare raw materials, such as cobalt, which are needed for
lithium-ion batteries. Volvo Cars are doing pioneering work here and are
striving for maximum transparency as the world’s first automobile manufacturer.
Thanks to blockchain technology, the origin of the raw materials can be traced back
to the origin. In this way, Volvo Cars ensures that only sustainable and
certified raw materials are used.
A blockchain is like a digital “book”
that contains a list of data records that are linked to one another via
cryptography. Every transaction within the supply chain is recorded and can no
longer be changed.
The data in the blockchain contain
specific information about the origin of the cobalt, i.e. attributes such as
weight, size, and the certificate of conformity (CoC), etc., which prove that
it complies with the OECD supply chain guidelines.
However, you don’t need new systems to
efficiently implement such blockchain applications. The technology exists;
therefore, the implementation can be way easier and safely at a lower cost.
Blockchain is the technology that
underpins Bitcoin and other cryptocurrencies but is also much more than that.
There are many opportunities to use blockchain across the automotive industry
that can transform products, services, and processes. Contact Codezeros and
learn how to utilize the power of Blockchain in automotive industry.
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