How blockchain and digital assets are being used in vehicles

Imagine a world where every car part, from the tiniest screw to the most powerful engine, comes with a transparent history. Well, this has been made possible because companies such as Koopman Logistics Group have already successfully used blockchain to track entire vehicle shipments, ensuring real-time location updates and automated administrative tasks. And the technology's potential extends beyond logistics. California's Department of Motor Vehicles (DMV), catering to the largest car registrations in the US, is exploring blockchain to verify car titles and registrations using NFTs - potentially saving both time and frustration for drivers. Elsewhere, DIMO, a ‘metaverse’ for cars, is an open-source, decentralized project that connects drivers directly with developers and manufacturers, with no middleman or company. Through DIMO, drivers can sell their car data which can be used to train machine-learning models and improve auto insurance. And even though the project is still under dev…