Blockchain applications in automotive
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Fake identification
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Targeted recalls
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Analyzing driver behavior
Use case 1. Fake identification
Currently
Poor traceability in logistics puts car retailers at risk of dealing with unscrupulous manufacturers and unnoticed transportation errors, which undermines their reputation in the long run.
With blockchain
Blockchain reliably authenticates parts in the supply chain, with fakes immediately detected, thanks to the system of immutable IDs assigned to each piece.
Use case 2. Targeted recalls
Currently
When a customer purchases a vehicle with defects, they are unaware of what’s exactly wrong with it, so recalls turn out to be a hard bargain.
With blockchain
With blockchain-based IDs assigned to each part of the vehicle, you can immediately detect which parts are defective and issue targeted, hence less costly recalls.
Use case 3. Analyzing driver behavior
Currently
Today, producers of smart cars struggle with the insufficiency of collected insights since those are prone to inaccuracy and fraud.
With blockchain
Blockchain establishes an immutable database of information regarding car behavior, allowing producers to perform data-driven, meaningful analytics.