Driving Blockchain Forward: Automotive Advances With Blockchain Technology

This is just one application of blockchain technology in the automotive industry.

The scope of applications for blockchain can range from something as simple as BMW's logistics, to Volkswagen's autonomous car, and everything in between, as the automotive industry continues to push for more use-cases of the technology.

It is not just blockchain for cars, some well known manufacturers are driving the blockchain adoption alongside the likes of IBM and Bosch.

As of July 2017, Bosch held 958 patents, way ahead of second placed Audi with 512.Furthermore, with Bosch playing an active role in blockchain promotion in its role at the Mobility Open Blockchain Initiative, the future of automobile and blockchain technology seems more linked than ever before.

Mobility Open Blockchain InitiativeBMW, Ford, Renault and General Motors are among the 30 companies in MOBI. Founding members also include IBM, Bosch and Blockchain at Berkeley, student-run organization at UC Berkeley aimed at promoting blockchain.

In the long term, Toyota is expected to leverage blockchain technology for automotive supply chain management and connected car systems.

Renault moving in the blockchain space alreadyRenault have been looking at the blockchain for car passports for some time now.

The range of uses indicates that blockchain technology can be applied in multiple ways when it comes to manufacturing of cars.

Blockchain in the automotive industryBy looking into just six areas where the automotive industry is starting to use the blockchain, one can get a sense as to how powerful this technology can be in driving the manufacturing of cars forward.

Ride sharing servicesFrom mobility solutions, which include ride sharing services and autonomous systems, blockchain technology can put a big dent in the monopoly that companies like Uber have over shared taxi services.