Tesla Becomes Latest In Line To Leverage Blockchain Technology

The list of automotive companies leveraging blockchain technology to effectively manage their operations certainly seems to be growing. After BMW, Ford, General Motors, and Group Renault; Tesla also plans to implement blockchain technology.

Recently in April, Tesla partnered with CargoSmart Limited led a blockchain-based project along with the Shanghai International Port and (SIPG) and China Ocean Shipping Company (COSCO) for Tesla to track its cargo shipments.

From Maersk to TradeLens, blockchain is currently being used by a number of companies to streamline their supply chain processes. In a recent project, the automotive giant- Tesla tested blockchain technology as a part of its operations in importing parts to its Shanghai factory.

By leveraging blockchain, the project aims to streamline the supply chain processes for its cargo shipments. SIPG and COSCO collectively tested a blockchain app to enable access to a shared database that further assisted in shortening the cargo release time once the shipments were offloaded.