News

VeChain On-boarded BMW, Now They Show Their Blockchain App To The World

VeChain, which in the middle of its VeChain Summit 2019 in San Francisco, has showcased the next step in their partnership with automobile manufacturing giant BMW – a new service called VerifyCar on the VeChainThor Network.

The VerifyCar application addresses the issue of mileage fraud, which according to the presentation is present in one-third of vehicles in Germany. VerifyCar is a digital passport that allows users to monitor their odometer and maintenance history.

Cihan Albay, Lead IT Tech Office of BMW’s Singapore office, presented on stage the new service that has been created by BMW’s research team. He said of the collaboration with VeChain,

VeChain has successfully gone through the BMW Startup Garage program and BMW is still working with VeChain on a client based relationship.

VeChain and BMW announced their partnership last year, and as a part of the BMW Startup Garage, the two have been working together to build blockchain-based apps.

Previously, the Shanghai-based project had revealed that “Big Four” professional services services firm Deloitte would migrate to Vechain’s blockchain from the Ethereum blockchain, making it the second big four firm to use VeChain – the other being PricewaterhouseCoopers.

Blockchain Shows the Automobile Industry Its Potential

Blockchain’s applications in the automobile industry is quite well known, and efforts in the space have picked up considerably over the past year or so. IOTA, which is building its own decentralized solution for the Internet of Things, among other things, is part of the Mobility Open Blockchain Initiative (MOBI) coalition with automobile giants such as Renault, Ford, BMW and others in a bid to encourage solutions and boost adoption. IOTA is also launching the Digital CarPass initiative with Volkswagen.

VeChain itself has had an excellent start to 2019, forging several partnerships and revealing the ToolChain for businesses, the latter of which they claim allows businesses to create solutions in under 30 minutes.

Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

Share
Published by
Abhimanyu Krishnan

Recent Posts

Is A Silicon City Tech Giant Behind BlockDAG Network As Its $11.4M Presale Outcasts Floki Inu Price Surge Amid BOME Fluctuation

With Floki Inu's next bull run approaching, investors are closely monitoring its innovative token burn…

2 weeks ago

BlockDAG Becomes Top Crypto Investment Choice with $9.9M Presale, Beating Fantom & Apecoin

BlockDAG (BDAG) has continued to stand out with its innovative presale strategy, offering early investors…

2 weeks ago

Render and Dogecoin Price Predictions Defy Expectations As BlockDAG Emerges as the Highest ROI Crypto for 2024

As we venture into 2024, the crypto market is brimming with potential for unprecedented growth.…

2 weeks ago

Solana’s 20% Trading Spike Sparks BlockDAG Presale Interest While Memeinator Presale Reaches Edge

This analysis contrasts the flourishing momentum of BlockDAG coin's presale against the backdrop of the…

3 weeks ago

CryptoGames Review: Bitcoin and Altcoin Casino

Ever wondered what it is like to experience the extravagant casino vibes in the comfort…

2 years ago