The automotive industry is regarded as one of the more cutting edge sectors that often leads the way for new technologies such as artificial intelligence[1] and autonomous systems. Blockchain is being seen as one such technology, and it is unsurprising that the industry is immersing itself in this new space.
Car manufacturers have been quietly picking up on the blockchain phenomenon, trying to figure out different ways in which they can utilize the immutable ledger to their different needs.
For example, on June 11, IOTA and Volkswagen demonstrated[2] a proof-of-concept that uses IOTA’s Tangle system for autonomous cars. This is just one application of blockchain technology in the automotive industry.
So, while it is not all self driving cars and space-age applications, there are already the likes of BMW who are using blockchain to track the cobalt they use in manufacturing to ensure ethical mining[3].
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[4] for more use-cases of the technology.
Entering the space
There is a long list of ways in which the automotive industry can leverage blockchain, and some of those uses are starting to be snapped up and attempted by the bigger manufacturers.
Porsche, BMW and Mercedes made news earlier this year as they began putting the blockchain to the test. BMW has its cobalt ledger[5], Mercedes introduced its safe driving program[6] that rewards drivers in crypto and Porsche with its blockchain apps[7].
But there are others following close on their heels as they try and corner the blockchain market for the automobile industry.
