Hyundai Motor Company and Kia Corporation have unveiled a cutting-edge Supplier CO2 Emission Monitoring System (SCEMS), leveraging blockchain technology.
The innovative system aims to effectively manage the carbon emissions produced by their business partners.
The core technology behind SCEMS will be powered by the Hedera network, a highly secure Proof of Stake (PoS) smart contract platform well-known for facilitating cryptocurrency transactions and decentralized applications.
The significance of SCEMS lies in its ability to comprehensively monitor and assess carbon emissions at every stage of the supply chain. This includes tracking emissions from raw material procurement, through the manufacturing process, and during product transportation, both within the Hyundai Motor and Kia companies and across their network of cooperative partners.
By implementing this meticulous measurement and analysis process, the automotive giants will be better equipped to identify and address high carbon emissions operations, taking proactive steps towards mitigating their environmental impact and tackling climate change challenges.
An essential component of SCEMS is the integration of artificial intelligence (AI) technology alongside blockchain capabilities. This powerful combination enables the system to make accurate predictions about future carbon emissions. Such insights are crucial for setting meaningful carbon reduction targets, ensuring a more sustainable and environmentally responsible approach in the automotive industry.
With sustainability and climate change increasingly taking center stage in global conversations, the development of this blockchain-based emission monitoring system marks a significant step forward in the fight against carbon emissions.
The automotive giants, Hyundai and Kia, are no strangers to the world of Web3 and Non-Fungible Tokens (NFTs), as they consistently seek to adopt cutting-edge technologies to enhance their offerings and provide clients with immersive experiences aligned with their goals.
Back in April, Hyundai made headlines with its collaboration with the NFT brand “Meta Kongz.” The result was the release of the Shooting Star NFT collection, which eventually evolved into “MobED (Mobile Eccentric Droid),” representing Hyundai’s initial venture into the realm of Metamobility NFTs.
Taking things a step further, Hyundai launched an NFT membership program in July 2022, catering exclusively to IONIQ 6 NFT owners. The move followed a trademark application for “Metamobility” filed in June, signifying the company’s commitment to advancing its NFT and metaverse projects.
Meanwhile, Kia didn’t lag behind in embracing NFTs either. In July 2022, the company unveiled an advertisement highlighting the distinctive features of the all-new 2023 Soul. The advertisement allowed viewers to scan a QR code to collect Kia-themed NFTs, making the car-buying experience all the more interactive and exciting.
In November, Kia introduced “Legends of the Driveway,” a remarkable NFT collection comprising 2,023 tokens. The sales from this collection were dedicated to supporting MobilizeGreen, a noble cause that resonated with the company’s commitment to making a positive impact.
