Rising on the backdrop of a crypto-currency boom, Blockchain technology has been growing in prominence. This field is beginning to have its application across the business industry due to its conducive nature and its easy applicability.
Developers can utilize it to make improvements to already existing applications and/or websites to enhance business productivity and user-friendliness.
The automotive field has also been mulling the use of blockchain technology to boost efficiency and to step up their performance.
“We believe blockchain will transform the way people and businesses interact, creating new opportunities in mobility,” said Rich Strader, a high ranking official in the Ford Motor Corporation. “We look forward to working together with our industry colleagues as part of MOBI to set the standards for the mobile ecosystem of tomorrow.”
Sachin Lulla, a vice president at the IBM Automotive Industry agrees on the benefits of merging Blockchain technology with auto trends.
“A set of blockchain standards for the mobility industry will allow auto, infrastructure, and service providers to efficiently communicate and transact with each other.” he is reported to have said. “Bringing the industry together and building interoperable blockchain networks is key to helping the automotive industry unleash the potential of the blockchain. IBM is contributing our expertise in building blockchain consortia to the group to help accelerate development and ultimately benefit consumers.”
The Mobility Open Blockchain Initiative (MOBI), a non-profit foundation, conducting research into how blockchain technology can be applied in the fields of automotive and transportation. Some of the applications that could emerge from this integration include secure e-commerce, tracking of data and its history, autonomous payments and much more.
Apart from the transportation field, numerous other industries are also racing to cash in on blockchain technology. Volareo, a musical corporation, attempting to use this technology to enhance purchases and payments in the musical industry.
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