Abstract
ABSTRACT
“The Future of Automotive, captured on the Blockchain”
The automotive industry, and in particular vehicles beyond their first owners, is ready for change and innovation through mass adoption of blockchain technology. As manufacturers, dealerships and buyers know, having a good record of your vehicle is essential for all parties involved. Till date, car history is primarily kept in siloed and centralized data management platforms, requiring lots of manual inputs prone to human error. In many cases historical vehicle data is incomplete or can sometimes even be manipulated. This results in more difficulties to determine a fair price, but also to know if there may be anything wrong or worth noting with the vehicle. Transparency is the key word to look for within the evolving automotive industry.
VinLink offers the solution, through a blockchain enabled app that ties in all your vehicle(s) data, completely transparent and accessible for everyone you want to do business with. Modern day vehicles are already being built to collect vehicle data, such as mileage, usage behaviour, maintenance, software updates and many more. This solution does not only apply to modern vehicles, older vehicles can also be retrofitted.
The time for blockchain integration is now. Vehicle data can be added to the blockchain in real-time. From the moment a vehicle rolls off the production line, being driven for any number of miles, all the way through every service maintenance, repairs and change of ownership. Each data-point can be directly logged and irreversibly stored, permanently, offering maximum transparency, mitigating any risk of manipulation.
As the automotive industry is still growing exponentially, generating over a trillion of $ annually on a global level, the potential of VinLink’s technology and its scalability is astronomical.
Last modified 5mo ago
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