Blockchain in the automotive industry: impact, success stories and future prospects

Since the mid-2010s the automotive industry has been on somewhat of a tech journey, researching into the potential of blockchain technology to tackle mobility challenges. We have seen some great proofs of concept yet, in reality, many blockchain pilots hit the brakes before reaching the market. But wait, fasten your seatbelts! Thanks to new battery rules and a mountain of EU blockchain investments, we are beginning to step up for some commercial opportunities. As automakers gear towards safety and the all-electric era to meet EU rules, blockchain technology is shaping up as the undercover superhero for sustainability in the automotive world. But, back in the early days, blockchain pilots were not unlike those promising movie trailers - tackling issues such as mileage fraud prevention, usage-based insurance and identity verification. Although these initiatives demonstrated promising proofs of concept, none successfully made it to the market whereby raising questions about the challenge…