Advancement of Blockchain in the Automotive industry the future?

[ataraxiaceleste]

Consumer behavior is changing with an increase in e-mobility and on demand services. People are now willing to share data and use more technology which is accelerating a digital experience in everything we do. Ride sharing is becoming more popular among urban riders. Not only is it eco-friendly but also great to cut down expenses. This also comes with many unforeseen risks. Use of blockchain technology can help reduce these risks very accurately and help create a safer and more sustainable environment for all.

A friend told me about Concordium and how regulation can be a good thing. It got me wondering. Using blockchains like Concordium which are designed to bring 'Blockchain to Business' can help greatly reduce the risks, since it has regulatory compliance by design. It can make sure that the co-passengers sharing the ride with you do not have any criminal background without actually putting their privacy at risk by revealing too much information to the other passengers too which would reduce any malicious actions by other co-passengers that they might take to advantage incase too much information is revealed.

It even has a verification feature both on chain and off chain, at the same time maintaining privacy of all, ( basically using ( Zero Knowledge Proofs to privately verify information ) so you can safely share rides with people you don't know.

Using blockchain can help track many things like the the usage times and share vehicle data to owners, manufacturers in a safe and secure way without being tampered with.

Can help link data held by different businesses across industries, can enable “pay as you go mechanisms” and help both consumers and retailers help boost businesses especially in a time where economies these days are hit by the Covid19 pandemic.

There are many more applications I was thinking of. How else is blockchain being used in the Automotive industry? Are there any cryptos in particular catering to the automotive industry?

Automotive industry is a very big sector that can generate billions in revenue if done correctly.