Accelerate Technology Innovation in the Automotive Industry with
MOBI brings together BMW, Bosch, Ford, General Motors, Groupe Renault, Accenture, IBM, and others to explore
blockchain’s potential in mobility
We discover and develop automotive applications on blockchain
to improve the future of mobility. We empower the
automobile business with inventive blockchain solutions ranging from vehicle manufacturing, supply chain
and emerging electric car solutions to ride-sharing and more. We have evaluated blockchain's potential
automotive value chain and found that it is capable of:
Enhancing efficiencies across the supply chain and back-office
Augmenting vehicle information management and usage data
Simplifying transactions processes and information exchange
Slow, costly, and opaque supply chain activities
Smart processes on the distributed shared ledger
Risk of fraud, slow claim processing, and complex contracts
Fool-proof automated insurance and settlement payments
Infiltration of fake or defective parts with no detection
Traceability of parts origin and integrity from OEM to an automaker
Centralized, insecure data, intermediaries, and slow transactions
No intermediaries, authenticity, and new business opportunities
Increased costs, incapability of finding specific defective parts
Quick identification of defective parts, targeted recalls
Inability to verify information, paper-based, and lengthy processes
Digital ownership records, real-time information verification
Blockchain brings automotive stakeholders involved in various processes
like design, manufacturing, distribution,
tracking, compliance, selling, financing, recalling, and vehicle servicing on a single, shared ledger.
enables transparency, accountability, efficiency, and security across the automotive ecosystem
We develop automotive supply chain solutions that capture, store, and update
the information of vehicles and spare parts
on the blockchain-shared ledger immutably. It enables car service centers, car manufacturers,
customers, and other
stakeholders to track auto-part provenance throughout the supply chain. Our solutions ensure
and verifiability of automobile components and raw materials
We build automotive applications that enable car OEMs (Original Equipment
Manufacturers) to identify vehicles containing
defective parts. Manufacturers can further issue targeted recalls or service bulletins for these
vehicles. It can reduce
disruption to customers as well as the recall costs for the process. It can ensure no massive
recalls that translate to
a considerable cost. The solution also enables the status tracking of a recall
Our blockchain solutions enable the issuance of loyalty points for dealers
and customers. They can redeem and use those
loyalty points as a currency within an automobile loyalty network. Once a customer has redeemed
his loyalty points, the
solution will update a dealer’s account for participants on the network to view. We use
blockchain and smart contract
technology-based solutions for the instant redemption of loyalty points
Our solutions automate contracts and financial transactions to enable vehicle
owners to monetize P2P ride trips. They
interconnect smart, autonomous vehicles, car-sharing providers, and end-users reliably and
securely. They enable users
and car-sharing providers to register on the blockchain for secure and seamless data exchange,
location, contract terms, and user payment information
We develop blockchain applications that enable insurance firms to form
customized vehicle insurance contracts as per
actual driving behavior. They do so by processing a vehicle owner’s driving behavior events like
speeding and mileage
and safety events like defective parts and collisions. The solutions efficiently and securely
insurance claim payments and financial settlements following an insurance claim
We build blockchain KYS solutions that collect, record and validate supplier
details before a supplier delivers services
to automotive companies. Once stored and approved, they execute supplier payments and contracts
with smart contracts
when a service or product gets fulfilled as per the business agreement. They enable stakeholders
to manage supplier
digital identities for digital agreements, digital assets, and workflows
We implement smart contracts to automate business operations with the following blockchain technologies
Blockchain technology provides the fundamental advantages of decentralization, immutability, encryption, and transparency. It enables authentication without having to rely on third parties. Within a blockchain network, the data structure remains append-only. So, nobody can alter or delete the info.
Accenture, IBM, Microsoft, Software Mahindra, Carblock, and others are the leading players in the automotive blockchain industry. They have adopted various strategies to retain key market share in the blockchain automotive industry.
Insurers will be able to monitor claims in an unparalleled manner by looking at a transparent blockchain-powered database. Fraudulent claims will be virtually impossible because all the details will be on the distributed database. Hence, various complementary but conflicting stakeholders, frequently untrusting, such as reinsurers, insurers, and brokers, will have their data shared and stored in the blockchain.
Traditional insurance underwriting can take months, whereas it can become real-time and quasi-automatic with blockchain. Besides, all registered participants can access prior KYC records and related validated documents instantaneously and safely, using a blockchain.
Insurers will also be able to establish immediate and cheaper policies by monitoring the driving hours of the vehicle, thereby facilitating strategies like pay-as-you-drive.
The new strategic trends in the automotive blockchain industry include the use of technology in finance, automation applications, smart procurement, and supply chain. These applications complement the automotive blockchain industry while contributing to the development of the automotive blockchain market.
Blockchain can address various supply chain problems by maintaining complex databases and monitoring products and services. In monitoring and testing products and services, a blockchain-based supply chain management system ensures accurate record-keeping and monitoring of provenance. It does so by enabling product information access with embedded sensors and RFID tags. Blockchain can trace the origin of a commodity right from its start to where it is in the present time. Also, this form of exact provenance monitoring can assist in detecting fraud in any part of the supply chain. The car supply chain is a highly dynamic and large field that involves numerous participants, including parts suppliers, producers, and sellers. With blockchain, automotive suppliers can protect their brands against counterfeit goods while building customer-centered business models.
A blockchain-based system will enable car manufacturers to recognize vehicles containing faulty components and enforce targeted recalls or sequencing batches. It will reduce the cost of recalls significantly. The solution will monitor the recall status too. It, for example, will track vehicles the dealer receives for repair. This monitoring can come in use for government reporting on regulatory matters.
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