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Automobile giants adopt Blockchain standards to measure Carbon emissions

Automobile giants adopt Blockchain standards to measure Carbon emissions

Leading carmakers worldwide are urging to adopt a standard that would precisely monitor the amount of carbon dioxide produced by automobile batteries as demand for electric cars (EVs) grows.

Car manufacturers from Japan, the United States, and Europe and major cloud providers are among the 100 firms and organizations that will develop worldwide standards to correctly quantify the carbon dioxide emissions of automobile batteries as early as 2022.

About half of the CO2 produced in the manufacture of electric vehicles comes from batteries. The organization hopes to build a method to support the management and reuse of batteries and decrease the environmental strain by documenting and sharing emission data from show to disposal.

The Mobility Open Blockchain Initiative (MOBI), which includes Ford Motor, Honda Motor, and Japanese trading house Itochu will lead the standard development.

Four MOBI-affiliated automotive manufacturers produce about 20 million automobiles annually, accounting for around 20% of the whole market. According to a source, Ford intends to embrace the standard because it “wants to create a standard for the mobility ecosystem across the industry.”

The action comes ahead of new European regulations. The European Commission intends to mandate CO2 emissions records for industrial batteries, such as those used in electric vehicles, at each stage of manufacture, distribution, use, and disposal by 2024.

By 2027, there will be an upper limit on emissions. The European Commission joined Mobi in March, and the commission could certify the new standard.

Blockchain technology

The new standard will employ blockchain, which is recognized for its integrity, to maintain a trustworthy record of CO2 emissions. Computers will keep track of transactions and share them while keeping a watchful eye on each other. As a result, it’s almost impossible to alter data, and the danger of tampering is regarded as negligible.

MOBI, an automotive blockchain consortium, previously revealed in 2019 that it is working on a proof of concept (PoC) for blockchain Vehicle Identity alongside several of its founding members (VID). The trial also included vehicles from BMW, Ford, Renault, GM, Honda, and other manufacturers.

The objective is to increase blockchain use in the transportation industry. MOBI also believes that having a market-ready blockchain VID standard would help other blockchain applications in the car industry.

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