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Learning & News => News related to Crypto => Articles about Cryptocurrency => Topic started by: @Royale on September 18, 2019, 07:55:09 PM
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Indian automobile manufacturer Tata Motors wants to integrate blockchain solutions into its internal processes as part of a newly launched program for startups.
As Business Insider India reported on Sept. 18, Tata Motors has rolled out a program for startups dubbed “Tata Motors AutoMobility Collaboration Network 2.0,” through which it intends to develop a range of industry-related products, including artificial intelligence and blockchain-enabled solutions.
The firm wants to apply blockchain-based solutions in various aspects of the automotive industry, including parking marketplace, demand prediction algorithm and real-time monitoring of fuel quality.
Commenting on the initiative, Shailesh Chandra, president of electric mobility business and corporate strategy at Tata Motors, said:
“Today, almost every segment of the automotive value-chain is required to drive its own innovation story. [...] In the current age of
uncertainty and speed of change, the above effort of sourcing solutions will need to be driven both through in-house initiatives as
well as collaborating with external partners.”
Blockchain recognition by car industry leaders
Blockchain has seen wide adoption in the automotive industry, with some of the world’s leading car manufacturers having already embraced it. In late August, blockchain solutions company PlatOn created a platform for storing data and calculating the price of used business cars at Beijing Mercedes-Benz Sales Service.
That same month, Volvo Cars, owned by Chinese automotive group Geely, produced electric cars with cobalt mapped on a blockchain, purportedly aiming to prove that their electric vehicles do not rely on conflict minerals or child labor.
As Cointelegraph previously reported, the blockchain devices market will purportedly see a 42.5% compound annual growth rate in coming years, to reach a valuation of $1.285 billion in 2024. In comparison, the value of the market in 2019 has reportedly amounted to $218 million to date.
source: https://cointelegraph.com/news/indian-car-manufacturer-tata-motors-calls-for-automotive-blockchain-tech
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This news is only related to the use of blockchain technology and, unfortunately, is not related to the introduction of cryptocurrencies in India. So far, there is a negative attitude and distrust of cryptocurrency on the part of the government and especially the central bank of this state.
Almost all the countries of the world recognize the revolutionary nature of blockchain technology, and therefore it is not surprising that this is happening in India.