$ 29,206.00 3.90%
$ 1,980.03 3.41%
$ 49.45 6.32%
$ 0.083473 3.19%
$ 7.81 2.85%
$ 1.38 3.40%
$ 0.000161 17.29%

Bosch delves with Ethereum blockchain

Bosch delves with Ethereum blockchain

Bosch a renowned automotive company wants to connect with Ethereum blockchain. A spokesperson of Bosch briefed that the company has started working with the second biggest blockchain Ethereum. So far, the company has not revealed the complete details of the projects they are working on. However, at the annual conference last week, BCW 2019; new project details were unveiled.

Bosch announced electric-car charging ports, with enhanced communication properties so, it is expected that this project will be backed by Ethereum. In 2016, a similar case of Germany’s RWE electricity supplier in collaboration with Ethereum initiated the project to run the charging stations across the country.

Bosch’s website elaborated that Ethereum platform will facilitate the company in terms of autonomous charging, paying EV and alike programs. The spokesperson said that we have evaluated the Ethereum, Hyperledger, and IOTA previously also. IOTA aims to provide greater scalability, fast and cost-effective transactions. But, IOTA is regarded as an opponent of Ethereum and is not a blockchain intrinsically.

The observers said that in BCW 2019, there was no announcement about IOTA and no reported projects were in the pipeline. The main theme of BCW2019 was the establishment of an integrated system where all machines, sensors and WiFi facilitate the vehicles for parking and charging stations by utilizing enhanced smart contracts.

In the globalized world, the things are not physically connected so, smart contracts are required to do business and communication effectively. Bosch is also working on the projects of automated car parking and have made collaborations with other companies. The Ethereum has already performed well in RWE EV trials, Bosh aims to utilize Ethereum and broaden its arena and magnitude of work, and is willing to accept the blockchain open source technology.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

Related News

Hot Stories

Ethereum wipes out $8.10B while eagerly awaiting 'The Merge'
Michael Saylor says market crash will benefit Bitcoin
Crypto exchanges are relisting LUNA after the crash
Terra admits to facing technical issues in resuming LUNA and UST transfer 
RoboApe could be valued over Dogecoin and other crypto-memes.

Follow Us

Industry News

eBay jumps into declining NFT business with Wayne Gretzky's help
Crypto crowd’s shocking prominence in Davos
Balenciaga U.S. stores to accept BTC and ETH starting June 2022
BTC Pizza Day is celebrated amid crypto crash
CV VC launches Africa-focused blockchain fund