How Blockchain Can Revolutionize The Automotive Industry

blockchain automotive industry
  • The dealers can fully automate processes like sales, servicing, warranty claims, etc. through smart contracts.
  • Blockchain is a decentralized ledger that offers full transparency in any type of transaction to manufacturers, dealers, service centers and customers.
  • The technology also provides a tamper-proof log containing records of auto servicing and wear and tear details about spare parts. This helps in estimating the right resale value of the car.
  • The buyer and the seller can avoid third parties or middlemen in case of transactions and insurance claims

APPLICATION OF BLOCKCHAIN IN AUTOMOTIVE INDUSTRY

FAST PAYMENT

TAMPER-PROOF SERVICE RECORDS FOR RESALE EVALUATION

EXACT CAR RECALLS

TRACKING AUTHENTIC VEHICLE PARTS

OPTIMIZATION OF INSURANCE CLAIMS

BLOCKCHAIN GAINING MOMENTUM IN THE AUTOMOTIVE INDUSTRY

CONCLUSION

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Passionate about blogging on Cryptocurrency, Blockchain applications, Artificial Intelligence & IoT.

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Maria Garcia

Maria Garcia

Passionate about blogging on Cryptocurrency, Blockchain applications, Artificial Intelligence & IoT.

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