Siemens Update: Blockchain Introduction to Carsharing Market

Posted by Shiva Gaur · August 5, 2019 · 3 Min read

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Siemens, the industrial manufacturing giant is looking into the potential of blockchain to understand how it can improve the car-sharing market. Car sharing is a car rental model which allows people to rent cars for a shorter period of time. 

Andreas Kind, Siemens Corporate Technology Head of Cybersecurity and Blockchain noticed that a huge number of people rely on car sharing. Their team researched and tried to find out ways using which people do not have to concern themselves with the responsibilities associated with owning a car including parking, insurance, and payments. 

The global giant, Siemens is now focusing on adopting Blockchain-based solutions for the carsharing market through Siemens Mobility, also known as a smart mobility option. 

One of the major carsharing related issues that Siemens is majorly focusing upon is associated with fueling cards and mobility. 

Let’s find out how are Siemens is trying to simplify the two domains.

Carsharing As An Option

Carsharing has become one of the popular businesses these days in large urban areas. However, the most common issue that car owners have to face is of fueling cards used to refill the gas. Using the fueling cards is subject to a number of restrictions from the customers’ end. Either the cards are stolen very often or the consumers are allowed to use the card on specific gas stations only. 

Kind said that these type of issues can be taken care easily with the use of technologies such as Blockchain. 

Kind added the large entities are interested in making the move towards using blockchain for the welfare of the carsharing business. They are undergoing several rounds of testing and discovery before incorporating the most suitable and effective way. 

Siemens is exactly under that phase, Kind said. The company is undergoing various used-cases and a period of exploration. Now Siemens is all set to go and looking forward to getting permission for the usage of blockchain in different areas. 

Blockchain In The Mobility Arena

Kind said that Siemens has a separate department for handling the area of mobility and is known as one of the best blockchain applications. Siemens Mobility, a daughter company of the German-based Siemens is a separate branch that the company has devoted to its mobility sector. It focuses on delivering transport solutions be it the movement of goods or people to several locations around the world. 

What We Can Expect?

A big transformation is going on, so we can expect a lot more opportunities around mobility services apart from selling or promoting carsharing business. After the successful incorporation of Blockchain technology, it will be more convenient for the drivers to track their cards in case they are stolen or the chances are they might not require to carry their cards anymore. 

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