Renault Tests Blockchain To Verify Vehicle Components

Renault has announced that it has successfully tested the XCEED blockchain project, which will transfer vehicle parts compliance information between parts suppliers and auto manufacturer.

The Extended Compliance End-to-End Distributed project, better known as XCEED, is the result of Renault's partnership with blockchain-solution development companies. It is based on Hyperledger Fabric and implemented in collaboration with IBM. XCEED monitors and verifies the compliance of vehicle parts with legal requirements. Renault tested the XCEED at its Douai plant and processed over a million documents at 500 transactions per second.

The auto manufacturer said the need for this compliance solution arose when new market control rules were introduced on September 1. European Union Directive 2007/46/EU, revised in 2020, establishes more effective monitoring of new vehicles and parts in order to comply with safety and environmental standards.

Image: Bitcoin Dynamic