Indian Vehicle Maker Tata Motors Calls For Blockchain Technology Focused on Auto Industry

Tata Motors, an Indian car company, has recently shown some interest in integrating blockchain-based solutions to its cars as part of a new program. According to Business Insider India, the company has just started the Tata Motors AutoMobility Collaboration Network 2.0.

This new program is intended to help the company to develop products related to the industry using solutions based on emerging technology such as artificial intelligence, machine learning and blockchain.

These solutions will be used in several aspects of the industry such as in monitoring the vehicles in real-time, creating a parking marketplace and using algorithms to predict demand more accurately.

Shailesh Chandra, the president of corporate strategy at the company, affirmed that every segment of the industry is currently required to innovate. She believes that we live in an age of quick changes, so the companies need to be prepared to always find the right solutions via in-house initiatives or external partners.

Blockchain and The Car Industry

Blockchain technology is being used all over the world, so it is no surprise that the automotive industry is adopting it as well. According to recent reports, the global blockchain market is set to grow 42.5% per year.

Several companies are already starting initiatives similar to Tata Motors’ one. PlatOn, for instance, created a platform that stores the data of the market and calculates the price of used cars.

Volvo Cars have recently created electric cars which were mapped in the blockchain to prove that they were environmentally-friendly and did not use any kind of child labor.

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Author: Hank Klinger

IBM And Indian Telecom Firm Tata to Become Part of Hedera Hashgraph’s Governing Body

Technology giant IBM and the Indian telecom company Tata Communications have recently announced that they would be a part of the Hedera Hashgraph, a blockchain network that was created for enterprises.

The blockchain network has affirmed that the presence of these two companies is set to decentralize even more control of the company. At the moment, the company has 31 of its 39 seats for the governing council still open.

Mance Harmon, CEO of Hedera Hashgraph, affirmed that the governance model of the company ensures that no company can consolidate power alone. This is usually done via a checks and balances system that prevents one company from getting all the power alone.

Hedera was created in order to facilitate payments using the blockchain technology and to support smart contracts and file storage. The company was able to raise $124 million USD so far via future token agreements.

The code of the company is fully open for viewing, but it is patented, meaning that it is not open source, only transparent.

According to IBM, one of the most interesting aspects of the network is how private networks can be used to interact with public networks. The Hedera Consensus Service, for instance, can be used to connect public networks such as the Ethereum blockchain with private ones such as Hyperledger Fabric.

Because of this, IBM is certain that this new technology can be used in order to make its own offerings more effective and well-connected to the rest of the blockchain world.

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Author: Gabriel Machado