How Blockchain and the Auto Industry Will Fit Together
“At this point, most of the specific potential uses for blockchain in various industries are quite speculative and a number of years out,” says Gordon Haff, technology evangelist at Red Hat. “What we can do, though, is think about the type of uses that play to blockchain strengths.”
It is plenty productive to explore sectors where, as Haff says, blockchain’s strong suits might be a good fit. The automotive industry quickly stands out. Some of its fundamental characteristics and concerns – think about the massive global supply chain, the complex web of licensing, taxation, and other regulations, and the important safety and trust issues – make it a fascinating candidate for blockchain-enabled innovation...
However, one catalyst for change is that the auto industry is deeply connected with some other sectors where blockchain technology shows promise. Marta Piekarska, director of ecosystem at Hyperledger, points out several major ones: supply chain, insurance, and payments. And that’s not necessarily a comprehensive list. The vehicles we drive and ride in cross many more avenues than we may realize.
“The automotive industry might be unique in the way that it combines many other platforms: entertainment, manufacturing, tracking of CO2 emissions, payments, and many others,” she explains.
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