Blockchain Is the New Black: Know How Blockchain Technology Is Transforming Automotive Industry
Technologies are magical. We do not just utilize them, we live them. When it comes to the automotive industry, each day turns out to be a remarkable one with disruption experienced through new technology. Blockchain, a fairly new technology to have entered the automotive industry is all set to be a game changer for several use-cases by the year 2021. According to IBM institute’s report, it is predicted that nearly 62% of the automotive industry will make use of blockchain technology. Right from advancing new business models, reward programs and rentals, to changing the nuances of automotive industry’s manufacturing supply chain, there’s no denying that Blockchain is the new black and the new disruptive force. Read on to know the ways in which it is transforming Automotive industry. Creating a Connected Supply Chain It is possible to implement blockchain technology to every facet of the supply chain right from product inception and designing to distribution development and