Blockchain and BMW: PartChain is set to roll out over the course of 2020

• BMW has just announced plans to roll out its blockchain supply chain solution to 10 suppliers over the course of 2020.
• The platform has already successfully tested the so-called PartChain in 2019 according to the official announcement revealed this week on the 31st of March.

One of the biggest car manufacturers in the world, BMW group has just announced plans to roll out its blockchain supply chain solution to 10 suppliers over the course of 2020.

The platform has already successfully tested the so-called PartChain in 2019 according to the official announcement revealed this week on the 31st of March.

In its early days, the solution was initially designed to ensure traceability and immediate data transparency for automobile components over complex supply chains. This would engage several parties on a global scale.

One member of the board for BMW AG management, Andreas Wendt is the man responsible for the purchasing and supply network for the company. He has said that BMW now wants to expand the project to a large number of other suppliers with 10 in their crosshairs for the course of 2020. When it comes to the long term, Wendt says that the vision for the company is to use blockchain in order to create “an open platform that will allow data within supply chains to be exchanged and shared safely and anonymized across the industry.” 

Even though component tracking is what the pilot is limited to at the minute, the car manufacturer predicts the platform's future applications can be extended to tracing raw metals and materials to help the manufacturing process.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!