XCEED – Simoldes Joins Blockchain Project for the Automotive Industry

Portuguese industrial group Simoldes is one of the members of a blockchain (decentralised database) project for the automotive industry.

The plastics manufacturer is part of the Xceed consortium, which aims to be a shared solution for tracking thousands of car parts in near real-time.

The technology is being developed by IBM.

The consortium includes automotive group Renault, components company Faurecia, Knauf Industries and Turkish Coşkunöz.

The consortium was born in 2019 but only later presented to the market after successful tests in consortium members’ factories in Spain, France and Turkey.

The Xceed solution uses blockchain technology to create a trusted database that allows information to be shared between parts/systems manufacturers and carmakers.

Although the database is shared, confidentiality of information, intellectual property and data is guaranteed.

Source: Dinheiro Vivo