Tag: electric vehicles

South Korea’s Jeju Island Leverages Blockchain to Curb Depleted Electric Vehicle Batteries

Jeju Island’s government representatives have revealed that a blockchain-powered electric vehicle waste-battery distribution management system has been implemented based on multi-year support. The island is categorized under South Korea’s special self-governing zones.

The blockchain-based management system will track the history of receipts of waste-batteries acquired at the Jeju Technopark Electric Vehicle Battery Industrialization Center opened in June 2019. The information obtained will include details about various releases, classifications, and inspections based on records found on the blockchain. 

Blockchain in the electric vehicle industry

The electric vehicle sector is experiencing considerable growth because of benefits, such as reduced fuel costs and lower car emissions. As a result, electric vehicles are offering environmentally friendly solutions based on decreased carbon pollution. 

The blockchain-propelled management system intended for the distribution history of electric vehicle batteries was established in December 2019 after receiving a $1 million grant from LG CNS, a subsidiary of LG Corporation offering IT services. It emerged the best among 12 projects, and the Korean government has vowed to support it with a $580,000 grant, as well as a private support matching program. 

This pilot project won the hearts of government officials based on its capability of propelling the development of the electric vehicle industry. It is expected to boost the distribution market of energy storage devices (ESS), such as EV batteries, as well as offering the basis for the standardization of battery performance evaluation attributes. 

The future strategy director of Jeju Island, Heesop Roh, noted, “Recent national security improvements can be attributed to the 4th industrial revolution and the achievements that Jeju Island has made even within budgetary constraints.”

Through a government pledge of approximately $410 million, the Ministry of Science and ICT is planning a large blockchain R&D project to determine the feasibility of blockchain technology research through 2025. 

In 2020, a nation-wide selection of 10 projects will be made to be part of the blockchain-powered electric vehicle waste-battery distribution management program based on its prolonged implementation.  

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Ava Labs to Serve as Smart Contracts Platform for Turkish EV Maker TOGG

Ava Labs, the team behind the development and management of Avalanche public blockchain, has entered into a strategic partnership with Turkish Electric Vehicle (EV) manufacturer TOGG to serve as its smart contract infrastructure provider for its next generation self-driven cars. 

The partnership was unveiled at the 2022 CES Summit in Las Vegas, U.S. As reported by TBEN, the partnership aims to accelerate Togg’s use case mobility initiative, which combines different technologies and transportation solutions to produce cars with more functionality compared to traditional electric vehicles. 

Avalanche is one of the fastest-growing blockchain protocols nowadays. The network prides itself as the fastest smart contract in terms of time to finality. This feature is necessary for the speed that TOGG is integrating into its next-generation automobiles. The partnership will afford TOGG the opportunity to integrate innovative tools, including the Internet of Things (IoT) and machine-to-machine communication (M2M), to expand and accelerate its EV capabilities.

Avalanche will also support the design of a smart contract that can help Togg users pick a scooter or taxi while their own cars are undergoing charging. In addition, the Ava Labs partnership will allow Togg to store vehicle maintenance and parts information on the Avalanche blockchain, which will form the basis of a reliable second-hand market.

“Our collaboration with Ava Labs is founded on improving the Togg user experience, going beyond automobiles to enable partners, users, and non-Togg users in the mobility ecosystem to benefit from this platform,” said Togg CEO Gürcan Karakaş.

It is not uncommon for EV and automobile manufacturing firms to consider employing blockchain innovations in meeting key aspects of their operation. According to an earlier report by Blockchain.News, Volvo Cars, a leading Swedish car manufacturer, invested in Circulor, a London-based blockchain company majoring in industrial supply chains. 

Also, German automobile manufacturing company Mercedes-Benz has also reportedly explored a blockchain-based automobile gas emission tracker in the past, a move that implied mainstream car manufacturers are beginning to realize the importance of blockchain technology in the industry.

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