Wanxiang hopes to cut the upfront cost of its cars by leasing their batteries to the purchaser, rather than selling them outright. Blockchains could be used to track the batteries through their lifecycle and to let Wanxiang know when to recall them, and at the same time use them as an asset to raise capital against.
What is not yet clear is how blockchain can be used in the built environment.
Feng Xiao, the vice chairman of Wanxiang and one of the three co-founders of WBL, told delegates to the Shanghai conference: “We want to use blockchain to manage Internet of Things (IoT) devices and help them to interact with each other. Smart appliances can be managed with blockchain.”
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