Ford and Honda Advocates for a Blockchain-Based Standard to Evaluate Carbon Emissions from EVs

Top-tier automobile manufacturers want the creation of blockchain-based standards that would be used to measure carbon outputs from electric vehicle batteries. The desire comes at a period when electric vehicles are in high demand. The car manufacturer desires to encourage more effective management of batteries that would positively impact the environment. 

According to reports, the entities calling for the development are under the umbrella of MOBI, the Mobility Open Blockchain Initiative. MOBI encompasses 100 institutions including automobile manufacturers and Itochu, a Japanese trading house. 

When blockchain technology is employed, computers would be able to transfer and store information. The technology would ensure that there’d be little possibilities of it being tempered. The devices would also be able to monitor each other. 

MOBI would likely make use of a two-dimensional barcode and sensors that would monitor data in the blockchain process. The data that is gathered at each stage will be looked into by MOBI including transportation, procurement, and production.

The Effect of Carbon Emissions

It is evaluated that carbon from car emissions makes up to 50% of greenhouse gas emissions. These carbon emissions from electric vehicles are appraised for the reduced environmental impact in comparison with conventional vehicles. 

Almost 20 million vehicles are produced under a MOBI coalition of four vehicle manufacturers. This number accounts for about 20 percent of the total car market production. Another automobile manufacturer Ford is looking to adopt the development to standardize the car industry. 

The new development follows the announcement from the executive arm of the European Commission that will set regulations for the use of batteries in 2024. Battery productions that require carbon dioxide will be monitored at production, distribution, use, and disposal processes. 

Total
0
Shares
Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
Related Posts