• Latest
Competition Is Heating Up Over Blockchain Use In The Automotive Industry

Competition Is Heating Up Over Blockchain Use In The Automotive Industry

Mai 8, 2019
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Alt Coin

Competition Is Heating Up Over Blockchain Use In The Automotive Industry

coinnewsdaily by coinnewsdaily
Mai 8, 2019
in Alt Coin
0
Competition Is Heating Up Over Blockchain Use In The Automotive Industry
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

As various global enterprises explore the integration of blockchain technology, there is little doubt that the automotive industry will be one of the earliest to be disrupted. There are multiple use cases for distributed ledger technology across this vast sector, and now competition among advocates and development teams for adoption is heating up. On the line is not only a tremendous grown in value and market cap, but likely the very answer to which platforms eventually end up going mainstream.

Iota is known to be aggressively targeting transportation adoption, as it is already working closely with automotive giant Volkswagen as well as Bosch, one of the industry’s largest suppliers. Earlier this week more partnerships cemented its position as the leader in the mobility space as Jaguar Land Rover announced that it would be integrating Iota into its vehicles by giving drivers the ability to receive Iota tokens in return for sharing road and usage data. Additionally, the city of Austin Texas will be using Iota technology in its public transportation network.

Related articles

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos

Juli 29, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022

Other platform teams have also announced significant partnerships with automobile companies. VeChain and BMW are working together to implement a system named “VerifyCar” that will store vehicle information, such as maintenance records and odometer data, on a blockchain. Consumers will be able to access this information with an app. Significantly, this system could easily be adopted by other carmakers as well.

There is also no shortage of small startups hoping to gain a foothold in this market. HireGo, for example, is attempting to set up a blockchain-based car share service, and Vinchain is similar to VerifyCar in that it seeks to securely, and immutably, store vehicle information. Most of these operate on proprietary ERC-20 tokens.

The most important takeaway from these developments is the fact that the automotive sector is clearly embracing the blockchain revolution, and there are many means by which disruption will take place. These areas include manufacturing, supply, data collection, insurance, and financing, to name a few. In a sense, the integration of blockchain into automobiles mirrors the effects distributed ledger technology is expected to have across all aspects of global business and industry.

It is also worth noting that most of what is planned for the automotive sector is a relatively simple use case for blockchain operations. For example, storing odometer and maintenance data is far less complex than creating advanced smart contracts or decentralized applications. It is thus not surprising that it would be among the earliest mainstream implementations of the technology. Nevertheless, these platforms are expected to become quite advanced as development moves forward, notably future electric and self-driving vehicles are likely to have very advanced blockchain integration.

Even by the most optimistic predictions it will be several more years before blockchain systems are a mainstream part of automotive technology, but these present nascent steps provide a very clear window into how it will be used. Also, it is very clear that several platform teams are actively courting auto manufacturers as part of their roadmaps. Thus, examining how this process develops is an excelling insight into the means by which the public will be exposed to the advantages of distributed ledgers.

Tags: Alt CoinAltcoinautomotive technologyblockchain systemsBMWIotatransportation adoption
Share76Tweet48
Previous Post

Bitmain Discloses 88% Drop In Its Own Bitcoin Mining Power

Next Post

Staking, Ethereum’s Mining Alternative, Will Be Profitable – But Barely

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos
Alt Coin

StarCard Sports Games Launches “Legends” Initiative for New World Football Alliance; Partners with Ashley Cole and Roberto Carlos

Juli 29, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market
Alt Coin

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022
Monero enters ‘overbought’ danger zone after XMR price gains 75% in two weeks
Alt Coin

Monero enters ‚overbought‘ danger zone after XMR price gains 75% in two weeks

Mai 24, 2022
Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Alt Coin

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Mai 23, 2022
arthur hayes to serve 2 year probation owning up to bitmex’s aml mishap
Alt Coin

Arthur Hayes to serve 2-year probation owning up to BitMEX’s AML mishap

Mai 23, 2022
Top 5 cryptocurrencies to watch this week: BTC, BNB, XMR, ETC, MANA
Alt Coin

Top 5 cryptocurrencies to watch this week: BTC, BNB, XMR, ETC, MANA

Mai 22, 2022
Load More
Next Post
Staking, Ethereum’s Mining Alternative, Will Be Profitable – But Barely

Staking, Ethereum’s Mining Alternative, Will Be Profitable – But Barely

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev