The shared ledger of Blockchain can help the Automotive industry to thrive in the best possible manner.Soon will come a time when all the car dealings will be done based on a decentralized shared ledger. The application of Blockchain in automotive industry has the potential to bring vehicle and data safety, transparency in supply chain of automobiles, enhancement in dealing processes, and efficiency in maintenance management.
As we move into the age of self-driving cars, the possibility of cyber-attacks through automobiles can easily take over the world. In order to prevent this from happening, we need to implement the distributed ledger framework in all the car dealings. It will help track the vehicle and its owner without any detailed research. Everything including the fuel will be recorded in the database for the accurate data management.
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