Bosch integrating with the Ethereum Blockchain for its new products

One of the world’s leading suppliers of technology and services, Bosch, has started working with the Ethereum blockchain with plans to integrate its products with the platform. This news came as a surprise for Ethereum supporters.

The annual conference, BCW, was held in Berlin last week where Bosch announced their new project, adding that it is expected to be backed by Ethereum. The tech company announced that they have been testing electric-car charging ports that can communicate and transact autonomously with a vehicle, seen as a use-case for Ethereum.

According to a statement by Bosch, the Ethereum platform ‘allows such projects, including for example, in the case of Bosch applications, autonomously charging and paying EV.’ The company has been working with IOTA, and Hyperledger since 2017.

Bosch spokesperson said, “Since all existing DLT are still in an early stage, we monitor each of them closely, without a particular focus on any existing technology.” She added, “There is no strategic favor for any existing technology. We have evaluated Ethereum, Hyperledger and IOTA in small prototypes before.”

Worth noting, Ethereum has a significant advantage over its competitors: neither Hyperledger nor IOTA can claim to be fully open source. Earlier, Ethereum also performed well in RWE EV trials in Germany and demonstrated that it can serve charging stations across the country. However, how exactly Bosch is going to implement Ethereum and its smart contract technology remains unclear.

Unlike Ethereum, neither Hyperledger nor IOTA can claim to be fully open source. Ethereum has previously performed well in RWE EV trials in Germany, demonstrating that it can serve charging stations across the company. It still remains unclear, though, how Bosch is exactly going to implement Ethereum and its smart contract technology.

This article was originally sourced from Coinspeaker.

 


About Bank Of Hodlers

Bank of Hodlers is building a customer-centric bank on the blockchain, by providing financial services like cryptocurrency-backed loans and cryptocurrency-backed cards.

We have recently launched our asset-backed lending product where you can earn interest on your BTC, ETH, TUSD and DAI. You also have the option to borrow DAI against Ethereum. You can sign up to the platform by clicking here: app.bankofhodlers.com/register.

 

crypto blog

Want to share your thoughts on this?

Up ↑

%d bloggers like this: