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Blockchain technology is changing the way we live and soon all sector of our economy will soon be powered by Blockchain.
One sector that I know will experience the next impact of Blockchain technology is the automobile industry.
The US publisher Ward's, estimates that as of 2010 there were 1.015 billion motor vehicles in use in the world. This figure represents the number of cars; light, medium and heavy-duty trucks; and buses, but does not include off-road vehicles or heavy construction equipment.
This is a report is from 2010 and this is 2018, so let's say we have 1.5 billion cars in the world and more to come. the new cars to come will definitely be powered by Blockchain technology.
Currently, it cost a lot of time and money to buy a car and too many middlemen which leads to more charges.
If these middlemen can be taken out and replaced with smart contacts on a Blockchain, car purchase, parking tickets, toll booths payments will be made with ease. and at a great speed.
With blockchain technology in this sector, I won't need to pack my car and show you my drivers license, once I drive by, the camera will be able to read my license plate, pull out my public data that cannot be altered.
With blockchain technology, cars can be integrated with ewallets for cars who do roadside service.
We've already started seeing driverless cars tested in our world today. These cars, of course, will be better if they could accept cryptocurrencies, most especially cryptocurrencies with fast transaction speed like STEEM and EOS.
Blockchain can bring faster and safer delivery of services for companies who use trucks or vans to deliver their services.
These trucks and vans could be tracked with Blockchain technology to avoid manipulation. when/if is adopted, it will increase reliability and efficiency in that product or service.
I must say, the article that really opened up my eyes to how amazingly different the short term future will be is this one:
https://medium.com/@mitchturck/i-find-your-lack-of-faith-in-autonomous-cars-disturbing-c5f249e9e623
Now this article doesn't even mention blockchains. (Unless some edits were made since 2015)
Add blockchains to the mix and you will get mind-boggling possibilities!
I must say blockchain technology is taking over the world I had knew before I got admission I could have applied for it as a course I meant still go for it in my masters
✅Thanks a lot for you boost my knowledge about blockchain in automobile industry samstickkz. Allow me to resterem, would you? My best regard for you 👍🏼
Lol thank you for resteeming
a good post for alerting me to blockchain in @sanstickkz in car industry, I thank you
Thank you for stopping by
I find this post very informative and educating.
The possible impact of blockchain technology in automobile industry can only be imagined, the numerous outweighs the possible disadvantages.
Wow. Amazing!