Follow us on or join ours

Another version of technology is coming blockchain, this time in automotive industry. new generation electric cars will be supported by block chains, which is directed, among others for more effective protection of the environment.

Sustainable development and care for the natural environment

In recent years, there has been a growing interest in automotive brands in issues such as sustainable development and environmental protection.

Hence, electric cars are becoming more and more popular.

Known around the world for its reliable safety standards, Volvo was the first in the industry to turn to responsible sourcing by taking a number of actions on recycling of automotive materials.

Importantly, Volvo is the first car brand premium class declared use hybrid or fully electric drive in all their cars.

As a result, the automotive industry not only gains wider development prospects, but air quality will also improve, especially in larger cities.

The fact that Volvo uses recycled in its production lithium batteries.

This solution is hit primarily due to the fact that the amount of lithium, as well as cobalt, does not match the high demand for these raw materials.

Also check: Blockchain in logistics

Volvo aims at blockchain

To achieve its goals, Volvo has decided to use the increasingly popular blockchain technology. It is to track the cobalt used in the vehicles produced by the brand.

The entire process begins with lithium batteries, which are scrapped and then obtained from secondary raw materials. They are tracked until they reach the Volvo factory.

To be able to effectively track selected materials, as well as verify the possibility of recycling, the company needed appropriate support.

She chose a British company as her partner Circulorspecializing in blockchain technology.

Volvo in cooperation with Circulor will revolutionize electric cars

For the needs of the new partner, Circulor has developed a blockchain-based platform Oracle, which aims to create a chain of evidence in the supply chain, which is connected by algorithms based on artificial intelligence.

The platform has already successfully tested in real conditions, so it cannot be ruled out that electric cars supported by block chains will soon become a symbol of a completely new quality in the automotive industry.

In addition, both Volvo and its customers will be sure that the car parts in selected cars come from legal sources, and that their sourcing takes place in a responsible manner, with care for the environment.

3.5 / 5 - (8 votes) is a cryptocurrency site run by a crypto team of enthusiasts. The main area of ​​our interest are cryptocurrencies, tokens, personal tokens as well as blockchain technology. On the pages of our website we will present independent cryptocurrency reviews and interesting articles from the market. In addition, we present the current rates of all critics. The site also has a multi-functional cryptocurrency calculator as well as traditional currencies.

The information published on the cryptocurrency website are not financial recommendations and do not constitute investment recommendations within the meaning of the Regulation of the Minister of Finance of 19 October 2005 on information being recommendations regarding financial instruments, their issuers or issuers (Journal of Laws of 2005, No. 206, item 1715). The information published on the pages of the portal does not constitute an offer. is not responsible for any decisions taken under the influence of data presented on the Website. Portal does not bear any responsibility for the possible use of information on the website.

Investments in OTC market instruments, including currency exchange rate (CFD) contracts, due to the use of the leverage mechanism, entail the possibility of incurring losses exceeding the value of the deposit. It is not possible to make a profit on transactions on OTC instruments, including currency exchange contracts (CFDs) without risking a loss, therefore contracts for exchange differences (CFDs) may not be suitable for all investors.

© Copyright 2019

My Newsletter

Sign Up For Updates & Newsletters