CryptoCars coming soon...
With Blockchain and Bitcoin coming up to its 10th birthday on October 31 2018, the hysteria of the crypto bubble has passed and many are now left wondering what’s next for a technology that has been described equally as the next big thing and the next big scam.
While Bitcoin has now become a household name, it’s penetration has waned as it looks for a killer app or marketplace. But now, three German automakers have been in the news recently as they experiment with the possibility of Blockchain technology in cars.
Mercedes-Benz
Mercedes-Benz has launched its own cryptocurrency, MobiCoin to reward drivers for environmentally-friendly driving habits.
Porsche
Porsche is also exploring blockchain apps in its vehicles in cooperation with the Berlin-based startup XAIN. Porsche will be investigating use cases in their vehicles to transfer data more quickly and securely, to give customers confidence when charging, parking or even giving temporary access to a car, such as a parcel delivery agent.
BMW
Finally, BMW has also been building its Blockchain repertoire, allegedly closing partnerships with Chinese Blockchain supply firm VEChain, ‘clean/ethical’ cobalt tracker Circulor and carVertical which is building the “first ever connected reports for cars.”
These three car manufacturers are all entering the Blockchain space at different points, with different needs, but the real story is that in the automotive industry, they are finding a diverse range of real-world usage for Blockchain across the product cycle.
There seems to be a genuine excitement about the possibilities of Blockchain in the automotive industry, particularly in connection to security and access.
This is far removed from the general hype of ICOs and get-rich-quick Blockchain projects with the automakers taking startups on board to build up their innovation, and execute in the most efficient German manner.
Well that’s all for today, thanks again for joining and don’t forget to leave a comment, or follow me on twitter, Instagram or Facebook @andychill79
Image: Thought Catalog @thoughtcatalog
