Accelerating technology disruption in the automotive market
Blockchain in the automotive industry
The automotive market of the future will be starkly different from that of today. It will need to be more integrated and offer on-demand and personalised services that will include autonomous, shared and connected cars. Blockchain has the potential to play a major role in underpinning the industry transformation that is coming.
Find out how blockchain can help revolutionise products, services and processes across the automotive value chain.
We have evaluated blockchain opportunities across the automotive value chain, analysing characteristics that could be used to resolve a number of business issues. We have grouped our results into the following:
- Trial projects. These opportunities have a lower immediate value relative to others due to a narrower blockchain application. However, they are attractive as they are less complex to implement than other opportunities. Blockchain opportunities in this segment relate to odometer fraud, electric vehicle payments, and dealer and customer incentives.
- Investigate. These are more attractive opportunities relative to trial projects in terms of value but are similar in complexity (and cost), offering greater value relative to investment in the short-term. Blockchain opportunities in this segment relate to targeted recall, extended vehicle ledger, know your supplier, and auto leasing and finance contracts.
- Wait and see. These opportunities currently offer a lower value relative to other blockchain opportunities and are more complex (and costly) to implement. Although they will provide value for businesses and have potential to generate further benefit, at the most basic level they may not be worth heavily investing in yet. Blockcahin opportunities in this segment relate to insurance contracts, and provenance or trace and verification of parts.
- Transformative. These offer the most attractive opportunities in terms of potential value. However, they are heavily influenced by external factors and also considered the highest risk option. Blockchain opportunities in this segment relate to connected services, connected supply chain and ride sharing, and on-demand mobility services.