Blockchain Development for Automotive Solutions

Accelerate Technology Innovation in the Automotive Industry with Blockchain-Powered Solutions

MOBI brings together BMW, Bosch, Ford, General Motors, Groupe Renault, Accenture, IBM, and others to explore blockchain’s potential in mobility

Blockchain-Based Automotive Solutions

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 traceability, and emerging electric car solutions to ride-sharing and more. We have evaluated blockchain's potential across the automotive value chain and found that it is capable of:

Authentication and Operational Efficiency

Enhancing efficiencies across the supply chain and back-office operations

  • Parts Authentication and Traceability
  • Smart Supply Chain
  • Specific Vehicle Recalls
  • Know Your Supplier (KYS)

Incentivization and Vehicle Management

Augmenting vehicle information management and usage data

  • Dealer and Customer Incentivization
  • Digital Log Book
  • Fake Odometer On-demand
  • Mobility and Ride-Sharing

Insurance, Financing, and Payments

Simplifying transactions processes and information exchange

  • Insurance Contract Management
  • Automated Leasing and Financing
  • Connected Customer Services
  • Micro Electric Vehicle Payments

Solving Challenges of the Automotive Industry with Blockchain

  • Supply Chain

    Problem

    Slow, costly, and opaque supply chain
    activities

    Solution

    Smart processes on the distributed shared ledger

  • Insurance

    Problem

    Risk of fraud, slow claim processing, and complex contracts

    Solution

    Fool-proof automated insurance and settlement payments

  • Manufacturing

    Problem

    Infiltration of fake or defective parts with no detection

    Solution

    Traceability of parts origin and integrity from OEM to an automaker

  • Ride Sharing

    Problem

    Centralized, insecure data, intermediaries, and slow transactions

    Solution

    No intermediaries, authenticity, and new business opportunities

  • Vehicle Recalls

    Problem

    Increased costs, incapability of finding specific defective parts

    Solution

    Quick identification of defective parts, targeted recalls

  • Ownership Transfer

    Problem

    Inability to verify information, paper-based, and lengthy processes

    Solution

    Digital ownership records, real-time information verification

Blockchain-Powered Automotive Value Chain

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. Thereby, it enables transparency, accountability, efficiency, and security across the automotive ecosystem

Blockchain-Based Automotive Development Services

Vehicle Parts Traceability and Authentication Solution

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 transparency, traceability, and verifiability of automobile components and raw materials

Smart Contract Development
File Management and Sharing Services

Vehicle Component Recall Solution

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

Incentive Services Management

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

Cryptocurrency Development Services
Financial Application Development

On-Demand and Ride-Sharing App

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, including vehicle location, contract terms, and user payment information

Insurance Services Management

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 automate automobile insurance claim payments and financial settlements following an insurance claim

Healthcare Management Solutions
Hedera Migration Services

Supplier Identity Management

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

Blockchain Platforms That We Use

We implement smart contracts to automate business operations with the following blockchain technologies

Hyperlegder Project

Hyperledger

Ethereum Blockchain

Ethereum

Stellar Blockchain

Stellar

solana blockchain

Solana

Polygon Blockchain

Polygon

binance blockchain

Binance

Tron Blockchain

Tron

NEM Blockchain

NEM

EOS Blockchain

EOS

Credits Blockchain

Credits

Corda Blockchain

Corda

Multichain

Multichain

Hedera Hashgraph

Hedera
Hashgraph

BigchainDB blockchain

Big-Chain

FAQs (Frequently Asked Questions)

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.