Indian Automotive Industry Case Study on Block Chain
Dhiraj Singh · 2023
Blockchain technology, which offers several advantages including immutability, finality, and consensus, is making inroads into the industrial world. With the exception of using it for cryptocurrency transactions, several nations and sectors have already begun using it. The Indian government has recently expressed interest in taking use of its potential and has tested prototypes in the register of property records, healthcare, and other areas. As many international auto players have begun different projects based on blockchain, technology will inevitably have an influence on the Indian car sector in the future. However, rather than following the crowd, using technology must be decided upon rationally and according to business logic. Industry and researchers have postulated, predicted, prototyped, and executed a variety of application cases for this technology. IoT, AI, and big data, combined with blockchain has the ability to change how business is conducted and is applicable to all industries and job functions. The investigation and conclusion show that one use of blockchain technology that the car industry can start using right now is automated software updates. Some other implication is which utilise situations entailing the elongated vehicular log, similar platforms, process automation, distribution network, focused recounts, sharable warships as a provider, investment registration system, instantaneous exchanges, cross-border payouts, financial services, regulatory requirements, distributer & client rewards, instrument embezzlement, & guarantee proper management must be evaluated 3 years within next.