Blockchain in Vehicle
The prospect of Vehicle and Transportation application of blockchain technology In addition to more and more applications in civilian areas such as online shopping, asset certification and charitable donations, blockchain technology also has broad application prospects in the vehicle and transportation field. For example, there are potential applications in intelligence personnel for work performance incentives, safety monitor and vehicle accessories life-long tracking, driver safety management, vehicle supplies procurement, transportation logistics and so on.
Benefits of supply chain with blockchain
- Supply chain: Effectively coordinate all levels of suppliers and logistics and transportation companies to ensure the timely delivery of various components, and to achieve optimal dynamic management of inventory levels.
- Manufacturer Finance: The blockchain system is based on accurate information with high transparency, which greatly reduces the processing of export/import and bank documents, and can even securely complete payments in minutes or hours.
- Automobile retail and insurance: The blockchain increases the transparency of the vehicle’s true wear and tear information and will help auto finance service providers and used car dealers to more accurately measure the residual value of the vehicle as it approaches the contractual expiration date or vehicle assessment.
- User experience: Blockchain technology can help automakers customize driving experience services based on the driving habits of the owner, such as seat position, temperature, steering wheel position and more.
- Repairs and accessories: The blockchain system provides accurate information on every step of the original manufacturing date and location of the vehicle manufacturer, 4S shop, and consumer traceability parts, and any changes to the relevant information will be completed in real time. Eliminate the flow of counterfeit parts in the market and help automakers significantly reduce the cost of recalls
- Interconnection security: Blockchain technology is a good way to solve this important issue. Blockchain technology covers the entire network including smart vehicles, 4S stores, vehicle assembly lines, cloud storage, end-user devices, etc., and single or multiple signatures of transactions on all public blockchains. Take advantage of the unique nature of blockchain technology to ensure proper access control, identity management, and data integrity to ensure that systems securely exchange data between vehicles, smart homes, software vendors, etc., and ensure privacy for car owners.
- Car networking + blockchain technology to achieve intelligence during traffic conditions.