Penta Security, one of South Korea’s top firms, made headlines recently when they announced that they would soon be utilizing distributed ledger technology in an effort to share, store and collect data that relates to EVs (electric vehicles). To this end, they have also revealed that they shall be working alongside AutoCrypt in the hopes of jointly developing a kind of platform that will enable the promotion of efficiency, safety as well environmental friendliness for EVs.
Penta Security has since focused its efforts on providing data security products, services, and solutions, in addition to IoT (Internet of things) and web-based products and services. They are hence planning to adopt more DLT (distributed ledger technology) in order to safely share, store and collect electric vehicle batteries.
Blockchain is used to make electric vehicles better
One of the biggest reasons as to why someone would go for an electric vehicle nowadays is due to the fact that it does not consume any petrol/gasoline nor does it cause any pollution. In fact, many have the view that electric vehicles will become the norm in the future as they are a gateway to a greener and cleaner environment for everyone. Electric vehicles do not emit greenhouse gases or carbon monoxide, and while all of this would be beneficial for Penta Security, there is one lingering issue that is causing them much concern.
This is, of course, the problem regarding battery degradation, which remains one of the biggest disadvantages of owning an electric vehicle. Moreover, the cost of actually purchasing an electric vehicle for everyday use is not something everyone can bear right now, especially as we continue to go through the pandemic. Manufacturing costs remain another issue as well.
Battery efficiency to be improved upon
Keeping in mind all of the aforementioned issues, Penta Security has therefore partnered up with AutoCrypt in an effort to develop and subsequently implement a blockchain platform that can be employed for the purposes of collecting accurate data for these EV batteries. They will accomplish this by providing end-to-end security in an attempt to redefine mobility for various transportation technologies.
All this just goes to show that blockchain technology is not to be underestimated as an increasing number of investors are considering it, and not just for the automotive industry either.