Connected Car
Earlier, the automotive industry was tightly controlled with limited customer feedback systems and minimal buyer interaction with the OEMs. They transform the vertically integrated automotive value chains into a horizontally structured ecosystem with new rules. Autonomous vehicles are equipped with advanced recognition technologies such as AI-enhanced computer vision that help reduce accidents. Because of its distributed, immutable, and transparent nature, blockchain technology benefits every process in the automotive value chain, including purchasing, manufacturing, distribution, and service functions. Block chain technology ensures that the user’s data remains safe even as autonomous vehicles could access this data to provide convenience to the passengers.