Secure and certified networked transactions between partner companies or between members of an ecosystem (a company and its customers or its suppliers, for example). Exchanges in real time to meet the requirements of reactivity. That is what the blockchain offers. Thanks to this technology, the data in the blockchain cannot be altered or falsified, and are stored in a secure, decentralised manner.
In the blockchain, any new item of information will not overwrite an existing item. Rather, it is written to a new digital record known as a “block”. This block is verified by the network’s machines via algorithms that check, especially, the legitimacy of the issuer and the quality of the data. Once validated, the block joins the chain of unalterable blocks, hence the name, “blockchain”.
A car manufacturer, its suppliers, its parts manufacturers and its customers are all ecosystems in which the need for fast, transparent, joined-up information is crucial. Blockchain technology is an opportunity to move from the traditional customer-supplier relationship to a more sustainable partnership relationship.
For Groupe Renault, it has to be used as a collaborative, multi-company digital tool within the automotive sector. In this way it will become a source of increased productivity and collective intelligence. For the customer, for example, it makes it possible to certify the repair and maintenance information on a vehicle when it is resold.
For Groupe Renault, the car of tomorrow will be electric, connected, autonomous and shared. A more technological future than ever will have to adapt itself to new habits, new requirements and regulatory constraints. Faced with these challenges, Groupe Renault considers the blockchain as a vector for the transformation of the automotive industry. Some twenty projects to deploy this technology have been identified. They concern, in particular, the traceability of financial transactions and communication with equipment manufacturers and the sales network. Some of them will be deployed very soon.
Three questions to Odile Panciatici, expert-leader of the Blockchain project
Why did Groupe Renault start to implement Blockchain Technology?
How is Groupe Renault utilizing Blockchain Technology?
How would you say the Blockchain systems have benefited Groupe Renault so far?