Faurecia: blockchain for compliance purposes
(CercleFinance.com) - Faurecia, Renault, Knauf Industries, Simoldes and Coşkunöz, in association with IBM, have signed a partnership agreement for the deployment of XCEED (for eXtended Compliance End-to-End Distributed).
This shared solution leverages the blockchain to track the compliance of thousands of parts assembled in a vehicle - almost in real time.
Today's announcement follows a successful test of the solution at Renault's Douai plant. XCEED is now open to other manufacturers and hundreds of global suppliers of all sizes across the supply chain.
It aims to provide a traceability and compliance platform for the entire European automotive industry ecosystem, hence meeting regulatory and customer demand.
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