Blockchain technology is becoming more and more industries that use it. She got to the automotive industry.

The blockchain is a decentralized Protocol for data exchange. This technology is the basis of such cryptocurrencies as Bitcoin and Ethereum. Every change is recorded in the data blocks, arranged in chronological order (chain). This ensures transparency and protection from manipulation.

Today in the manufacture of automotive vehicles and all parts and components will not do it on one plant, often there are a few vendors who spetsializiruyutsya on something specific, and then on the primary production assembles. It is very important that the process of interaction of the enterprises went smoothly. With transparency and speed of the system based on the block ties, this interaction in the automotive industry can be much more effective. In addition, during the life of the car on it accumulates a lot of information, often some data is lost, which creates problems for the customers. This is especially true for insurers, who are happy to refuse payments on the basis that some required information is missing. Thanks to the blockchain data will be securely stored in the system, which is especially important when we are talking about huge amounts of information relating to millions of customers.

When it comes to tracking some information, this allows the manufacturer to pass the entire chain to the person who submitted it, even if the path there are several storage systems. Blockchain technology makes communication transparent. For transactions such as the purchase of vehicles or services is very important. Moreover, it facilitates law enforcement the ability to track a purchase that will benefit the market as a whole, said Bankless Times.Increasingly on the use of blockchain technology report certain car companies. So, Porsche is currently testing the possibility of remote unlocking and locking of doors using the application, based on the technology of the blockchain, as well as providing temporary access to a vehicle and a number of new business models based on collecting encrypted data. The car becomes part of the blockchain, so there is the possibility of implementing offline-connections — without connecting to an intermediate server. The procedure of unlocking and locking using the application, for example, took only 1.6 seconds, which is up to six times faster than before. In addition, data is protected by an effective encryption algorithm against unauthorized manipulation.

  • Each user through a unique key can have access to the database that stores the entire chain of consecutive records. Copies of these databases are synchronized with each other, through a complex system of all you can track, but you cannot make changes, as data is stored not in one place but is distributed among millions of computers worldwide. Digital records are combined into blocks which are then linked in a chain, and the data is encrypted a large number of different computers. This allows you to securely store information that is to hack into the system virtually impossible.