Blockchain Phenomenon Puts the Pedal to the Metal for Automotive Industry
Regarded as the most innovative sectors, leading the way for advanced technologies, the automotive industry always had the knack for introducing something new to the table. Blockchain technology is as one such technology, and it comes as no surprise that the industry is quite fascinated with this new space. Automobile manufacturers have been unostentatiously utilizing the blockchain phenomenon, considering numerous ways in which they can harness the potential of this immutable ledger to fit into their demands.
On June 11, IOTA and Volkswagen exhibited a proof-of-concept that applies IOTA’s Tangle system for autonomous cars. This development is just one application of blockchain technology in the automobile industry.
Reports about the likes of BMW implementing blockchain to trace the cobalt they use in manufacturing to guarantee ethical mining is already termed as a game changer for this industry. Read More…
