Blockchain Technology Opening New Doors for the Automobile Industry
After disrupting the financial and supply chain industries, the blockchain technology has finally arrived at the doors of the automobile industry. Over the last few years, CIOs and other leaders in the automotive sphere have expressed keen interest in pushing blockchain into the industry. The blockchain technology can aid in addressing some of the most pronounced problems in this industry related parts authentication, vehicle tracking, and electric car infrastructure.
For example, in several logistics operations, phony auto parts that appear genuine get into the supply chain and subsequently land in the dealer service centers. But while installing or any other manufacturing operations, these inferior parts often fail, resulting in repeated downtimes. Though automakers have implemented several anti-fraud technologies and operations to counter this practice, somehow phony parts always seep into the supply chain.
With the blockchain technology, the automotive industry can eradicate the menace of phony parts by creating a unique ID for each part. Along with these, each part also has an immutable timestamp to add value to authenticity verification. Owing to each part's unique and distinctive ID, an end-user can efficiently verify the authenticity of a part and check avoidable downtimes to a minimum.
Check Out: Autotech Outlook
CIO Review Client: PCMI
By Leni Kaufman, VP & CIO, Newport News Shipbuilding
By George Evans, CIO, Singing River Health System
By John Kamin, EVP and CIO, Old National Bancorp
By Elliot Garbus, VP-IoT Solutions Group & GM-Automotive...
By Gregory Morrison, SVP & CIO, Cox Enterprises
By Alberto Ruocco, CIO, American Electric Power
By Sam Lamonica, CIO & VP Information Systems, Rosendin...
By Sergey Cherkasov, CIO, PhosAgro
By Pascal Becotte, MD-Global Supply Chain Practice for the...
By Stephen Caulfield, Executive Director, Global Field...
By Shamim Mohammad, SVP & CIO, CarMax
By Ronald Seymore, Managing Director, Enterprise Performance...
By Brad Bodell, SVP and CIO, CNO Financial Group, Inc.
By Jim Whitehurst, CEO, Red Hat
By Clark Golestani, EVP and CIO, Merck
By Scott Craig, Vice President of Product Marketing, Lexmark...
By Dave Kipe, SVP, Global Operations, Scholastic Inc.
By Meerah Rajavel, CIO, Forcepoint
By Amit Bahree, Executive, Global Technology and Innovation,...
By Greg Tacchetti, CIO, State Auto Insurance