It is expected that the automotive industry will adopt blockchain technology on a large scale within five years
2024-05-15
Deloitte, a consulting firm, recently released a report titled "Technology Driving Blockchain Disruption in the Automotive Industry", stating that with changes in car ownership and sales models, the automotive industry will usher in a turning point in the next five years, when blockchain technology will be widely adopted.
Deloitte pointed out that after expanding the research scope to future travel, digital transformation, automotive consumers, and other important industry trends, the results indicate that blockchain opportunities run through the entire value chain. The entire industry, including vehicle manufacturers, suppliers, distributors, financial institutions, and end users, has blockchain opportunities.
Taking "accurate recall" as an example, blockchain solutions can enable car manufacturers to identify vehicles with defective parts and conduct accurate recalls or issue service announcements. This not only reduces interference with customers, but also lowers the cost of the recall process. This application can also track the recall status, such as the vehicle being sent to the dealer for repair, or the repair being completed, making it easier to submit regulatory reports to the government.
It is worth noting that blockchain has the potential to be applied to solve the problem of odometer fraud in the second-hand car market. Regularly send mileage data to the "digital log" using the in car connector. If you suspect that the mileage has been tampered with, you can check the displayed mileage through the smartphone application against the actual mileage recorded in the system. Car owners can load the mileage onto the blockchain and obtain a certificate to confirm the accuracy of the mileage when selling the vehicle.
However, Deloitte does not believe that the automotive manufacturing industry can seize these broad blockchain opportunities alone. Deloitte suggests that as blockchain technology and related applications are not areas that traditional enterprises excel in, automotive manufacturing companies need to acquire blockchain technology research and development companies to accelerate the development process of related technologies, improve supply chain efficiency and quality, and more effectively track the use of terminal products and related components.
Deloitte pointed out that after expanding the research scope to future travel, digital transformation, automotive consumers, and other important industry trends, the results indicate that blockchain opportunities run through the entire value chain. The entire industry, including vehicle manufacturers, suppliers, distributors, financial institutions, and end users, has blockchain opportunities.
Taking "accurate recall" as an example, blockchain solutions can enable car manufacturers to identify vehicles with defective parts and conduct accurate recalls or issue service announcements. This not only reduces interference with customers, but also lowers the cost of the recall process. This application can also track the recall status, such as the vehicle being sent to the dealer for repair, or the repair being completed, making it easier to submit regulatory reports to the government.
It is worth noting that blockchain has the potential to be applied to solve the problem of odometer fraud in the second-hand car market. Regularly send mileage data to the "digital log" using the in car connector. If you suspect that the mileage has been tampered with, you can check the displayed mileage through the smartphone application against the actual mileage recorded in the system. Car owners can load the mileage onto the blockchain and obtain a certificate to confirm the accuracy of the mileage when selling the vehicle.
However, Deloitte does not believe that the automotive manufacturing industry can seize these broad blockchain opportunities alone. Deloitte suggests that as blockchain technology and related applications are not areas that traditional enterprises excel in, automotive manufacturing companies need to acquire blockchain technology research and development companies to accelerate the development process of related technologies, improve supply chain efficiency and quality, and more effectively track the use of terminal products and related components.
