Audi is testing blockchain in logistics

The German automotive company Audi is testing blockchain technology for financial processing and movement of goods. With the new solution, Audi is committed to improving the safety and transparency of its global supply chains.
In 2016, after successful testing of the technology based on IBM Hyperledger Fabric, the company released Proof-of-Concept (PoC) of its blockchain system. Positive feedback prompted Audi to decide to move the project beyond the PoC stage.
The research team, consisting of representatives of various departments of production, logistics, it and Finance, studies the application of technology in the implementation and documentation of international logistics processes, including financial regulation.

In addition, the team examines the various uses of the blockchain to enhance the security of data transmission, efficiency of supply chains, management of local energy networks and the management of digital objects.

According to the head of the financial Department of the Audi AD Alexander Ditmer, the potential of the blockchain will allow you to change various principles of industrial companies and to open completely new business opportunities. He also informed that soon Audi will accept cryptocurrency for payment.

Other German automakers such as BMW, Mercedes and Porsche have also announced their own experiments with blockchain technology. Mercedes Benz, a subsidiary of Daimler AG automotive group, launches its own MobiCoin cryptocurrency to reward drivers for eco-friendly driving. Together with the Berlin startup XAIN, Porsche is exploring the use of blockchain-based applications in their cars. BMW is also testing the blockchain to develop a system for tracking the production of cobalt used in the products of the company.
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