Ford employs blockchain for fuel efficiency

American automaker giant Ford has announced that it will use blockchain for fuel efficiency in vehicles.

The next-generation vehicles are transforming into much more than just being a mode of transport. From introducing new user functionalities, drive revenue growth to adapt to the changing needs of humans and the environment surrounding them, the mobility industry has a lot to offer than ever before.

In doing so, blockchain technology has become indispensable for the industry, and why not! Strengthening supply chain processes, ensuring quality in manufacturing processes, and bringing about transparency in finances and data security are only a few of its use cases.

Ford is at the forefront of deploying blockchain technology for shaping the future of mobility. Recently, it partnered with leading industry players like Honda and BMW to work on the Mobility Open Blockchain Initiative (MOBI). The initiative aims at digitizing and effectively managing some of the painstakingly slow processes of paying parking meters and tolls.

Ford embraces blockchain for fuel efficiency

On Tuesday, it announced that it would utilize its potential to detect the green zones in the cities and automatically shift the driving mode to energy efficiency mode. Starting with Cologne in Germany, the fleet of blockchain-empowered vehicles will be deployed later in London, and Spain.

The multinational automobile company has equipped ten plug-in hybrid electric vehicles with cellular modems with geofencing features. The features enable vehicles to seamlessly and automatically shift to greener mode, which is electric-drive mode when it detects low-emission zones. In such a case, blockchain technology will help in accurate registering of the number of green miles driven by a vehicle.

Blockchain for greener tomorrow

As a tried-and-tested data security technology, blockchain will record the metadata, depending upon the entry and exit zones, on multiple computers creating permanent time-stamped information. Geofencing, at the same time, will develop a virtual geographic boundary with the help of GPS technology.

Ford’s blockchain implementation in enhancing energy efficiency in mobility addresses some crucial pain points of the city’s municipal corporations. By detecting low-emission zones, implementing the newest technologies to shift driving modes, and communicating the registered green miles data to municipal officials goes a long way in ensuring that vehicles adapt to changing environmental needs.

Gunnar Herrmann, chairman of the company’s management board Ford-Werke GmbH, commented that the project is in alignment with the company’s vision to promote greener spaces in the city. In the process, security, transparency, and accuracy of emissions data will be of paramount importance, and the futuristic technologies will help us reach our goal, he added.

Ford employs blockchain for fuel efficiencyJoin eToro and get $50 cash to start trading!

Join millions who’ve already discovered smarter investing by automatically copying the leading traders in eToro community for fast profits.