BMW to reveal its blockchain supply chain solution in 2020

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Mar 31, 2020
  • BMW is ready to proceed with its blockchain project for supply chains and start including more suppliers.
  • Recent information reveals that the company plans to add up to 10 suppliers to the network by the end of 2020.
  • The company also has big plans for the future, which will include anonymous data sharing across the industry.

BMW is preparing to launch its blockchain-based solution for supply chains, according to BMW Group’s new announcement. Furthermore, the Group also revealed plans to roll out the solution to as many as 10 suppliers before the end of the year.

The plan came out in an official announcement earlier today, March 31st. The platform, PartChain, is already quite functional, according to the tests conducted back in 2019.

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PartChain’s early design served for making sure that car parts can be traceable, and that all related data would stay transparent and available. The complexity of the supply chain demanded a solution, as it included many international participants. Blockchain technology emerged as a perfect way to solve the problem, but it still required work and preparation.

Then, in 2019, BMW revealed a pilot, which used the solution to buy and track front lights. Only two of BMW Group’s 31 plants participated, in addition to one supplier’s three different locations.

Now, BMW seems to be ready to expand its solution and actually start building the supplier network. The BMW AG’s Board of Management member, Andreas Wendt, confirmed this, himself. He said that the group will include up to 10 suppliers in 2020 alone.

BMW has big plans for the future

Wendt also spoke about the Group’s long-term plans. He revealed plans to use blockchain tech to create an open platform, which will allow for the exchange of supply chain data. The goal is to have it shared safely, and anonymously across the entire industry.

Understandably, the pilot version of the project came with certain limitations. It could only track the component as it made its way from one point to another. However, in the future, the platform’s applications will extend to tracing even the raw materials straight from the mine.

PartChain also uses cloud tech provided by Microsoft and Amazon Web Service. It combines it the blockchain itself. This allows it to store data in a temper-proof, verifiable collection and transaction.

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