Why does car business need Blockchain?

There is a lack of communication between the participants of the business.

The car industry is a dynamically developing business. In 2016, more than 78 mln cars were sold in the world. There are a lot of institutions involved: manufacturers, banks, drivers, repair stations, etc. Each of them possesses information that is useful for other participants. For example, manufacturers need to know what kind of breakages a particular model has and how often it happens to produce the necessary amount of spare parts.

There are different decentralized platforms, like Uservicethat aim at bringing together all the parties involved and create a unified database about cars. For instance, a car owner can register their car and get paid for the information that they will provide to the platform. So every registered car record will be updated and users of the platform can track what kind of issues this model has or doesn’t have.

 

 

 

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