Groupe Renault increases its focus on Blockchain technnology

Groupe Renault, the French car manufacturer with a Marketcap of $ 5,8 billion, has stated that it will increase its focus on Blockchain Technology.

Renault has been looking into blockchain technology since 2015 and sees it as 'A tool that promises gains in efficiency, productivity, and responsiveness for the automotive industry.'

Renault sees a future where all the participants in the ecosystem, namely car manufacturers, its suppliers, its parts manufacturers, and its customers can all benefit from faster and more transparent transactions.

Odile Paciatici, Expert-leader of Renaults' Blockchain project states that:
"Blockchain system had opened our vision of the future. The benefits will be not only for Groupe Renault but for all the ecosystem of a project. The values are of course performance, operational excellence increase, reactivity increase but beyond that, Trust within and outside ecosystem. It is true for our customers (product or service) and consumers (i.e., VTC users or car sharer)."

https://group.renault.com/en/news-on-air/news/the-blockchain-transformation-vector-for-the-future-of-the-automotive-industry/

I think it's exciting to see these big automotive companies talk positively about blockchain technology, and hope we will see the next Automotive transition take place in the not so distant future!