Steadily the blockchain technology is disrupting every industry it touches. The disruption continues with the auto industry at the organization level with many top vehicle brands competing for the integration of the technology to give way to the blockchain car industry. The drive to achieve improvement has seen the like of Daimler, General Motors, BMW, and other leading car brands. Such companies are taking the lead in adopting blockchain technology.
We have seen brands such as Ford and BMW try to fix their sourcing process for cobalt with blockchain tech. What of the idea of a blockchain car that is capable of making a payment by Daimler? Or a blockchain-based platform that has the ability to handle information from self-driving cars that General Motors is filing a patent for. The list goes on as more and more top brands in the auto industry look up to blockchain for the next blockchain car solution.
Practical Case Studies in Recent Times
The concept of having a blockchain car capable of machine-to-machine transactions without intermediaries was brought to life recently. In a partnership with the Commerzbank and Frankfurt bank, Daimler the parent company of Mercedes Benz initiated a pilot project to test a blockchain solution for payment using trucks developed by the company. This could pave the way for more advancement in self-driving vehicles.
As of March last year, leading car brand BMW collaborated with a startup established in London to utilize the blockchain traceability to ensure one of its raw materials cobalt comes from a clean source. This is another practical use of blockchain tech at enterprise-level. It focuses on ensuring ethical mining and supply chain in the auto industry sourcing for raw materials.
Why Blockchain Adoption is Key to a Blockchain Car Industry?
One thing is clear from what we are seeing across the auto industry. The incorporation of the technology is proof that the blockchain technology is ready to disrupt the automobile industry in several aspects of production.
Furthermore, the penchant for development in the auto sector will contribute to the disruption of the industry. The continuous drive by carmakers to invent and advance is steadily driving us into the future. The integration of this technology into tech like autonomous cars shows the future is not that far from now.
The adoption of blockchain could give us a vibrant blockchain car industry in the nearest future. This is not through a major overhaul of the industry. Rather it is through the efficient use of the blockchain tech in the smaller aspects of production to increase the effectiveness of the automobile products.
This method serves as a template for many organizations seeking to take advantage of the blockchain industry. Presently that is the template being embraced by automakers. The success of the auto industry in successfully integrating blockchain can go a long way. In addition, it is helping the adoption of the tech in other sectors.