In a major stride towards combating climate change, South Korean automotive giants Hyundai and Kia have unveils a cutting-edge Blockchain-AI solution that aims to revolutionize the tracking of carbon emissions. The innovative system, announced at a press conference today, promises to enhance transparency, accuracy, and accountability in measuring and reducing greenhouse gas emissions throughout their supply chain and manufacturing processes.
Hyundai and KIA Lead the Charge with Revolutionary Supplier CO2 Emission Monitoring System
Korean automotive giant Hyundai unveils blockchain AI solution, also recently unveiled their groundbreaking Supplier CO2 Emission Monitoring System (SCEMS) powered by blockchain and AI technology. Leveraging the public Hedera Distributed Ledger Technology (DLT), this innovative system will securely record carbon emissions data from suppliers, while AI algorithms predict future emissions.
The SCEMS will meticulously track the carbon footprint throughout the entire lifecycle, encompassing the sourcing of materials, the manufacturing process, and the transportation of finished products.
Hyundai aims to instil unwavering trust in regulators and stakeholders by employing cutting-edge technology, ensuring the data’s utmost accuracy. The immutability of blockchains and DLT guarantees data integrity, preventing any tampering once recorded. Nevertheless, validation of the initial data accuracy would require verification through other means.
Revolutionary SCEMS Solution Sets the Stage for Sustainable Supply Chains, Asserts Hyundai and Kia
Seung Hyun Hong, Head of the Materials Research and Engineering Center at Hyundai Motor and Kia, hailed the SCEMS solution as a trailblazing approach in managing carbon emissions and addressing climate change. He emphasized that it ushers in a new era of sustainable supply chain practices within its cooperative network.
The group has been steadfast in pursuing emissions reductions over time. Notably, its Indian plant has successfully secured 84% of its electricity from eco-friendly sources. Furthermore, the company has made continuous efforts to enhance its manufacturing processes’ environmental friendliness, implementing changes such as optimizing car painting methods and minimizing the utilization of toxic substances.
Hyundai’s Blockchain Journey: From Spare Parts Authentication to Public DLT Integration
The Hyundai group has demonstrated its versatile application of blockchain technology across various use cases, including NFTs. Notably, in 2021, the company leveraged blockchain to allow users to authenticate Hyundai and Kia spare parts. A notable evolution in the sector can be observed, as the 2021 solution utilized a private enterprise blockchain, while the latest SCEMS solution employs a public Distributed Ledger Technology (DLT).
Simultaneously, numerous automotive groups are also adopting blockchain technology for emissions tracking. For instance, blockchain startup Circulor has established partnerships with renowned brands like Mercedes, Jaguar Land Rover, and Volvo, utilizing blockchain for tracking raw materials and emissions. Audi, on the other hand, is actively engaged in a blockchain-based recycling initiative.
As other automotive groups embrace blockchain for emissions tracking, the sector is witnessing a paradigm shift towards eco-conscious solutions. Hyundai’s journey from authenticating spare parts using private blockchain to adopting public DLT for SCEMS exemplifies the evolving landscape of blockchain applications in the automotive industry.
The collaborative efforts of Hyundai, Kia, and other industry players demonstrate the collective determination to build a sustainable future. Through technology-driven innovations and a shared commitment to environmental stewardship, the automotive industry is paving the way for a greener and more environmentally conscious tomorrow.
Hyundai and Kia’s groundbreaking Supplier CO2 Emission Monitoring System (SCEMS) represents a significant milestone in the automotive industry’s quest for sustainability. By integrating blockchain and AI technology, the companies are spearheading an innovative approach to combat carbon emissions and tackle climate change. With SCEMS, the entire supply chain’s carbon footprint is meticulously tracked, fostering transparency and accountability. The decision to open-source the technology underscores their commitment to driving industry-wide change and promoting responsible practices.