Tesla Experiments with Blockchain Technology for China Imports
Tesla’s efforts in China have produced some valuable experiments over the past few months. For example, the electric vehicle maker implemented new charging accessories for the Model 3 that eventually ended up in North American models. Tesla China now shows new efforts to enhance its import process to use blockchain technology.
Tesla’s blockchain foray involved a few key entities in China. Alongside the logistics company CargoSmart, Tesla worked with the Shanghai International Port Group and a cargo company known as COSCO. Using a new experimental blockchain app, the companies rolled out a pilot program in December of 2019.
As sources at Clean Technica present, “COSCO’s General Manager of Business Process & System Division, Wu Yu, said that the pilot “showcased significant efficiency gains not only in the cargo release process but also for downstream supply chain planning by presenting a single source of truth for documentation for all involved parties.”
Most prominent in the financial space with digital assets like Bitcoin gaining popularity, blockchain technology presents a few potential benefits for Tesla’s import process. For one, the pilot showcased much faster paperwork processing. As demonstrated early on in Tesla’s Chinese ventures, a lot of green tape gums up both production and imports. As demand for Chinese-made Tesla vehicles increases, the company desires any solutions that speed up output.