The automotive industry is one that can benefit greatly from blockchain technology. Blockchain offers a great way to securely store driving data, and keep rights to that data with the rightful owner. Reputations can be built for taxi or Uber drivers, as well as regular drivers looking to rent a car. Smart contracts can also influence the automotive field. Topics of privacy and security, identity and reputation play into the car industries disruption due to blockchains. Read about blockchain technology in this industry here!
Toyota has made steps to implement blockchain technology in their vehicles. They are doing so primarily for data collection from cars and individuals, and they also plan on giving that data to the drivers!
This has many implications for the future! Read more about Toyota’s steps with blockchain and the future of cars here!
The automotive industry has long been in the technological dark ages. Newer technologies, however, have emerged that have propelled the auto industry into modernization. Smart cars are starting to make it onto the road, and with them comes a lot of new technology. One of these technologies may be blockchain. Experts realized blockchain has potential to revolutionize the industry. Read a bit about how this may happen here!