Overview
The automotive industry, being one of the most advanced industries, has transformed the world with innovative and intelligent products. However, due to the prevailing complexities and the number of challenges faced, automotive companies are adopting blockchain for the process of digital transformation. Blockchain in the automotive industry is already proving to be an answer to all the challenges faced by the companies by promising operational excellence, customer loyalty and promoting selling, insuring, and recalling of vehicles and their components. Around 62% of the automotive executives believe that blockchain proves to be a disruptive.
Benefits
Modifications in supply chain
MSRvantage blockchain in the automotive industry documents every step of the supply chain.
Being decentralized, it enhances visibility and is forgery-proof. To business, this gives the advantage of easier certification and shorter customs. With enhanced traceability and transparency, end-customers get the assurance and proof that raw materials come only from an authentic source and not from any questionable source.
Vehicle recall optimization
Blockchain in automotive industry improves this process radically and makes it easier for the
manufacturer as well as customer by saving lots of money. Blockchain being a decentralized ledger, provides transparency to the manufacturers and tracks all the parts efficiently making the process less complicated as only cars with faulty components will be recalled.
Prominence of autonomous vehicles
Blockchain in the automotive revolutionizes the future of cars by helping autonomous cars to
have the access to traffic data simultaneously and accurately. MSRvantage blockchain provides the ability to spread data efficiently, improve transactions, and enhance the security. Thus, building a safe driverless driving experience.
Solutions
Track & Trace Solution
Track and trace is transforming the market in many ways. The most
important feature of it is digitalization. Its revolutionizing supply chains, redefining business, and operating paradigms in it. It will improve dependability, agility, and effectiveness of businesses.
Smart Contracts
Smart contracts are known for their rigidity and assurance.
They are just the beginning of a smart future. Blockchain smart contracts are an agreement that executes itself automatically when parties meet predefined scenarios.
Asset Digitization
Unlike other centralized digital platforms to store asset details, digital assets
in Blockchain not only solve the pre-existing challenges in the industry, but also prove to be amazingly advantageous for a huge number of the industry’s ventures for numerous reasons.
Rewards & Loyalty
Automotive loyalty programs to drive customer commitment,
maintenance, and extra income across an assortment of areas. Give a significant extra to infotainment innovation by guaranteeing that in-car instalments for films, applications, and different administrations are kept secure.
Use Cases
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Simplified Access to Medical Records with Blockchain
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Secure your Networks by Leveraging the power of Blockchain
In the logistics industry, the major concern always remains to determine the current and past location of freight, whether it was damaged in transit, as well as reporting their arrival
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