As we all know, there has always been a high degree of information asymmetry in the automobile industry. Centralized Internet platforms have not really solved this problem. On the contrary, at present, because the centralized platform itself has become a monopoly information platform, their complicity with merchants has aggravated it. This information asymmetry has artificially created a gap between brands, service providers and consumers.
Different from general consumer goods, cars are typical high-consumption and high-expenditure consumer goods. The service experience experienced by consumers does not seem to be commensurate with the price, and even feels “inverted”. Let’s think about it: whether we spend hundreds or thousands of yuan on e-commerce platforms or in physical stores in daily life, there is more or less the pleasure of “throwing money” and a pleasant experience of consumption, and businesses can also give back to consumers. Due respect, but spending hundreds of thousands, hundreds of thousands, or even millions to buy a car, whether it is waiting for a price increase, overbearing clauses, or defending rights against quality problems that occur in the future, you will not be treated reasonably and fall into a passive situation. , facing much more frustration than other consumer products. And with a purchase, our car safety, insurance policies, and other related data are at risk.
Blockchain technology can be widely used throughout the automotive industry to drive product, service and process transformation. Its features in terms of accuracy and reliability provide completely new solutions for managing data and executing trades.
Blockchain is a public digital ledger, but it’s more than that. Any one blockchain is spread across multiple nodes, making it completely decentralized, meaning no one party can fully host the network or the data within it.
The characteristics of decentralization mean that all users can access various nodes on the network at the same time, that is, accurately access vehicle nodes and related data nodes, making related work more efficient and convenient.
Leveraging the core advantages of blockchain such as its non-tampering characteristics, decentralized transaction mechanism, and automatic smart contract processing can significantly reduce transaction costs in the automotive industry and gradually penetrate into new cars, used cars, repairs, and maintenance in the automotive consumer market. , beauty, supplies, modifications, spare parts, finance, insurance, leasing, car sharing and other business scenarios.
Reduce Fraud
For example, let’s say you’re buying or selling a car. With blockchain, you can set up a smart contract to ensure that one party to the contract must be connected correctly before the other party can trigger and take action. This way, the risk of fraud is much lower, if not completely eliminated.
Car insurance pricing
With blockchain technology, vehicle driving data, car manufacturer data and insurance company data can all be synchronized. Based on the vehicle’s driving information, the insurance company can set the actual insurance price. And when self-driving cars become popular, insurance companies can also prepare more types of insurance. At the same time, when a vehicle is involved in an accident, all users within the blockchain will receive information and can act as a third party to avoid claims and disputes.
Car Sharing
In fact, there is a big flaw in the sharing economy, that is, because the centralized organization provides a lot of usage authorization, demand matching and transaction arbitration, it will take away a large part of the profits in the sharing economy. Then centralization can be eliminated in the car sharing economy, and all vehicle behaviors can be accurately recorded to ensure vehicle safety. Through decentralization, people’s motivation to participate in the network can also be greatly improved. For example, if online ride-hailing can crowd out taxis, then blockchain can also crowd out online ride-hailing.
Component production
With the demand for personalized automobiles, there are high requirements for faster response from auto parts companies. Although there is competition among parts companies, the technology and process levels to meet different needs require transparency and transparency through blockchain technology. Traceable. Based on the establishment of the alliance chain, parts can not only be applied to specific models, but can also be matched to modular models and models of the same platform.
Based on blockchain technology, it solves problems such as information asymmetry, lack of trust, waste of resources, and low efficiency in the automobile consumer market. It can not only ensure security, but also achieve transparency, improve efficiency, and solve trust crises. It can be said that blockchain has a wide range of applications in the automotive industry, and its advantages can also create a lot of value. The relationship between blockchain and the automotive industry The value of connections cannot be ignored, and they may create more possibilities in the future.
