According to a report dated April 22 by Green Car Congress, (sustainable mobility-focused news agency) Hyundai Motor Group, South Korea’s biggest car manufacturer and automobile giant will be using blockchain technology in its new tech in order to pair EV’s (electric vehicles) with smartphones.
Reports suggest that the Korean Automobile giant announced that they would be working to develop a technology for pairing smartphones and electric vehicles which will essentially allow users to customize primary functions through a smartphone application.
As per reports, Hyundai intends to begin by implementing blockchain technology in order to prevent security issues while users share and upload their custom settings on the server. Moreover, the system under development phase is set to encrypt extensive performance criteria on a network based on blockchain necessarily by creating new blocks simultaneously while uploading and sharing custom settings with the intention of preventing unauthorized data tampering.
Reports also note that the person driving the vehicle will be in control of adjusting seven performance features such as the maximal torque output of the motor, acceleration and de-acceleration abilities, highest speed limit, regenerative braking capacity, use of energy on climate control and responsiveness.
Previously this year, Hyundai Commercial (a subsidiary of Hyundai) joined hands with IBM (American tech giant) intending to transform its business model using blockchain technology. The collaborations main focus is to deploy an open source Hyperledger Fabric Blockchain technology in order to create an advanced supply chain financing ecosystem for the Hyundai Commercial network.
Also, very recently, IBM was granted a patent for a new system in order to manage data and communications for vehicles which are self-driving.