Imagine if there was a database that collected and stored information about every vehicle on the road, from the time of it’s manufacture to the present moment. This database would track every transaction that took place relating to the car. By simply entering the chassis number, you could get access to minute details about the vehicle’s manufacture, its previous owners, its service and maintenance records, records of any accidents it has been in, and a host of other pertinent info. Thanks to Blockchain, this technology could be a reality.
Blockchain technology is set to become prominent in the automotive industry in the same way as technologies like artificial intelligence, machine learning, high performing GPS and sensors.
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