We all understand the importance of good transportation. And since the life is gaining pace, everyone looks for simplified solutions to deal with when it comes to consuming products and services.
Here, Blockchain for new mobility enters the scene and promise a great help to mobility businesses as well as consumers
As linked vehicles, driverless cars, and rideshare are impacting on the landscape, the mobility business is changing dramatically. Leading companies are always seeking for ways for improving efficiency, safety, decrease pollution, and enhance the customer experience in order to remain competitive. Fortunately, blockchain holds the promise of resolving some of the industry's most urgent issues.
History and verification
By providing a transparent, anonymous, and manipulation-free database, blockchain technology can help solve the age-old issue of mileage cheating. Telemetric data such as battery levels and miles can be automatically uploaded by the vehicle or by a third-party vendor. Accidents, as well as the ensuing repairs, and maintenance work, can be logged on the blockchain. This new layer of traceability may help to decrease fraud and boost resale value.
Improved Supply Chain Management
It's no surprise that blockchain is helping to solve problems and increase openness in supply chain operations, particularly in the mobility industry. There are a staggering amount of components, players, firms, and processes involved in the automobile production process. Each stakeholder in the business can benefit from having a clear image of the distribution network thanks to blockchain. There is more responsibility all through the chain if sales, servicing, and repairs are better tracked.
Automating transactions and processes is becoming increasingly important as new automobile generations arrive with greater autonomous functions. Smart contracts get the ability to help automate processes in a variety of ways.
By removing hurdles like the necessity for credit and debit cards, electronic payments could be made more easily.
Negotiations can take place behind closed doors, as per the predetermined conditions via smart contracts. Smart contracts could enable the deactivation of the unlocking mechanism of cars with unpaid lease payments in the lease and finance area.
In the public transport industry, blockchain can help bus depots charge passengers and track cars more easily than ever before.
Insurance that is more equal
The transparent and unchangeable logging of a vehicle's sensor information in a decentralised network is possible thanks to blockchain technology. This data can be analysed and included into an insurance program using smart contracts. Following an accident, credible documentation through a blockchain black box may aid in the resolution of disputes. In the case that an insurance event occurs, peer-to-peer insurance solutions pledge to provide payment to the customer.
We could establish a carsharing ecosystem based on blockchain which just needs one registration and digital identification for all service providers. Blockchain also ensures data integrity and that real-world and digital identities are unconnected. Setting and individual choices could be saved in a secure and comfortable manner.
The transportation industry is evolving and embracing this new technology. Some of the most well-known automobile firms in the world are now spending on blockchain and developing solutions.
Although there are always obstacles when it comes to incorporating new technology, it's apparent that blockchain will transform the mobility sector and open up new possibilities we never imagined.
The multitude of distinct applications for blockchain in mobility seems to be rather broad, as we can see. Even though there will be numerous technological and financial challenges to be addressed in order to fully realise the potential, we can confidently state that it will be worthwhile. We see various intersections of tech in the mobility field, and the industry's significant interest, from performing transactions at low cost to simpler administration of ecosystems with many members.