Automotive Companies Understand Potential of Blockchain
Remember a few weeks ago when we discussed how blockchain could truly impact self-driving cars? (Read about it here, if you didn’t get a chance to check it out!) Well, here’s a real-life example of it! Toyota has actually started implementing the technology in their autonomous vehicles, in two distinct ways.
First, it will help with data collection. In order to ensure safety with self-driving cars, a distributed ledger is ideal because millions of miles of data are required. Pooling of data could then be used to shorten the time it takes to reach the goal of mass-produced, self-driving cars.
Second, it collects data for individual drivers, and actually gives them access to their information. From there, they’d have the choice of sharing their data with insurance companies, or keeping it to themselves. Blockchain gives back the power to the individuals.