Gearing Up For The Future
With the future of auto industry moving toward self-driving cars at some point in the future, the adoption of blockchain will be even more important. The technology could be a key auditing tool to prevent tampering of vehicle information, reducing the unnecessary costs associated old-school technologies. The industry is excited about having vehicles that are not only physically autonomous, but economically autonomous as well.
Right now, there are three main problems pertaining to the digital infrastructure of smart cars: centralization, privacy and security. The good news is blockchain is a decentralized network, and it solves the latter two issues impeccably. For auto insurers of the future, the arrival of self-driving vehicles presents both a challenge and an opportunity.