What are the Top 5 Blockchain-based solutions in the Automobile Industry?

Ever wondered how blockchain technology can transform today’s automobile industry? Yes, if you’ve been keeping up with the movement, you’ll relate when we say the revolutionary technology has disrupted many industries. And of course, it doesn’t look like it’s stopping anytime soon. Moving forward, today’s $3.7 trillion auto industry is already ripe for blockchain’s impact and there’s no doubt that there are lots and lots of opportunities waiting to be explored. In fact, we’re already seeing quite a number of projects that are already playing their part in revolutionizing the industry.


blockchain solutions for automobile, auto industry

For the most part, blockchain-based automotive start-ups or projects will be able to offer quite a number of services that can solve a lot of problems in the inefficient and cumbersome market. Speaking of which, these auto blockchain projects can facilitate sales of exotic vehicles, sales of both new and used automobiles, warehousing, accounting and more! Yes, the key point here is that today’s automotive industry can utilize blockchain’s immutable ledger to deliver better outcomes for all.

In this post, we’re going to explore up to 5 of the most popular auto blockchain projects that are already making a mark on the market. Let’s check them out!

 

CarVertical

Topping our list is CarVertical — a blockchain-based automobile platform from Lithuania. With CarVertical, buyers can learn more about the history of cars before taking the plunge. So it’s basically an ethereum-based solution that removes the shadiness and emphasizes authenticity when buying used cars. For the most part, CarVertical draws relevant vehicle information from several different centralized databases and stores them on the blockchain. With this in mind, you can tell that users or buyers will get to rest easy knowing that their choice car wasn’t tampered with in any way. Speaking of peace of mind, CarVertical makes it possible for users to know if a particular car is stolen. And even better, you’ll get to earn more about its real odometer reading at different times.

It’s also good to point out that the information on CarVertical’s will let you in on a vehicle’s spotted activity and previous prices. But that’s not all — users will also get to have a full summary of accidents or damages made to a particular car! And oh, manufacturing faults or manufacturer’s recall will also be right at your fingertips. Yes, with all that has been said, you can tell that the purpose of CarVertical is to ensure that every vehicle’s information is authentic. All in all, we find it to be an interesting project that’s sure to catch on. Be sure to check out their site to learn more!

 

Gaus Trade

Ever wanted to get your dream car right off the bat? More like getting your favorite automobile without intermediaries and the likes? If yes is your answer to these questions, you won’t be wrong to enter Gaus Trade. This revolutionary blockchain-based auto platform basically connects buyers to auto manufacturers to facilitate quick and easy transactions. So yes, as a consumer, you can join Gaus Trade and start working your way towards getting your dream car. The best part? You’ll get to purchase your choice car at a price that’s much lower than the traditional retail price. Yes, the platform cuts off intermediaries from the chain and set you up for an amazing 30% discount! Talk about incredible cost savings!

It’s also good to point out that CarVertical ensures that transactions on its platform are 100% safe and secure for all. Yes, as you probably guessed, this auto blockchain project uses smart contracts which are blocked on a consumer’s account until delivery. Speaking of which, buyers can look forward to enjoying quick delivery on all purchases and that of course, is a huge plus. Finally, buyers will be able to pay for new automobiles in some most of popular cryptocurrencies around. Overall, CarVertical holds a lot of great promises for both buyers and manufacturers in the auto industry. And yes, we think it’s totally worth checking out!

 

Car-Pass

Tired of odometer fraud? Or just want to get a better idea of the history of a particular car? Well, if that’s the case, we think Car-Pass is one platform you’ll want to check out. For the most part, Car-Pass is a project that’s created to facilitate vehicle tracking via a digital wallet that keeps track of a car’s life events. With this amazing solution, you’ll get to know the make, model, and VIN of an automobile at the point of purchase. That’s not all — it also lets you in on how a particular vehicle has been used while placing much emphasis on the current state of the engine. So what’s the point? Well, it’s pretty simple — Car-Pass is the ultimate blockchain solution for vehicle tracking and the good news is, it’s already live. Don’t hesitate to check out their site to learn more.

 

Bitcar

Next in line is a blockchain-based auto platform for those into luxury or exotic vehicles. Bitcar basically connects owners of rare vehicles to potential buyers or investors. With this in mind, it’s up to you to choose where you stand and become a part of the market for collectible exotic automobiles. As we all know, exotic cars are hard assets that never fail to come in handy when owners are in a somewhat tight spot. And yes, with Bitcar, these individuals can put their luxury vehicles up for sale and facilitate transactions in a P2P manner. If you happen to be a potential buyer, you’ll be happy to know that Bitcar allows for fractional ownership of exotic cars with its token. And of course, with its live auction platform, you can trade your way to full ownership! What more could you ask for?

 

Autobay

Last but certainly not the least is Autobay — a platform that allows users to buy, sell and auction any car with cryptocurrency. It’s important to note that the platform is yet to go live (it’s basically conducting its token private sale as we speak). But of course, we could bet that it’s going to be huge. Essentially, the platform will give users the chance to purchase vehicles with its token (but you can also do the same with BTC or ETH). And as you probably guessed, every transaction is sure to be 100% safe and secure. That’s not all — users will also get to enjoy low fees on all transactions! The availability of user reviews is also a huge plus. As mentioned earlier, the platform isn’t live yet and of course, there are still quite a number of things to be done. But at the same time, you won’t be wrong to keep your eyes peeled for its official launch.

 

Conclusion

So there you have it, the Top 5 blockchain based auto industry projects that are set to revolutionize the $3.7 trillion industry. Yes, there’s no doubt that the big players are controlling a lot of what’s going on right now, but we know for sure that these platforms are sure to catch on. Here’s to the future of automobiles!

3 Comments

  • Nora Stelzer November 2018 - Reply

    Bitcar. That seems like a good place to start. Are these the only ones in the auto industry?

  • Michael Czapla November 2018 - Reply

    Being able to trust the big companies is hard enough the way it is. Putting themselves into a group with blockchain and cryptocurrencies might take a little getting used to.

  • Javier Hein November 2018 - Reply

    The best investors always say, if you are going to disrupt any industry, make sure its the biggest one.

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