Blockchain will enhance the market and will eventually break up the established, centralized market by making it possible to create more decentralized platforms and provide consumers more control over their data. The lesser spoken fact is how blockchain is connected with automobile industry. In terms of enterprise blockchain usage, the automobile industry has been quietly going about its businesses exploring this new technology to see how it can aid the automotive industry across the board. Automobile companies like BMW has already made news by looking into blockchain technology to aid it in sourcing ethical cobalt. Meanwhile Toyota is independently looking at the technology to aid it in an important new wave for automobiles, the autonomous driving vehicle. The automotive industry is one that is always on the cutting edge, driven by competition and consumer demands. This hands-on, cautious yet progressive, approach is both beneficial for the major manufacturers in their enterprise, but it also aids the smaller start-ups who can build up the technology and its use-cases within a well-structured framework.
Cars have shifted from being purely industrial to highly technical and for that reason it would be absurd for them to close their eyes to technologies in the vein of blockchain, AI, and IoT.