BLOCKCHAIN USE CASES EXPLORATIVE STUDY FOR INDIAN AUTOMOTIVE INDUSTRY

Abstract

Blockchain technology that has numerous benefits like immutability, finality and consensus is expanding its footstep in industrial world. Many countries and industries has started its initial usage and now Government of India has also shown interest to utilize its potential barring its usage with crypto transactions and piloted prototypes in registry of land records, health care etc. Sooner or later the technology will impact the Indian auto industry as many global auto players has started various initiatives based on blockchain, however the decision to use technology has to be driven with rationale and business logics rather than herd mentality. Many use cases has been theorized, forecasted, prototyped and implemented by industry and researchers on this technology. Blockchain along with IOT, AI and big data has potential to transform the way industry operates and has application potential across all sectors and functions. The analysis and conclusion reveals that automatic software update is one of the use case of block chain technology where Auto Industry can immediately work upon. Other conclusion that is drawn is use cases related to supply chain, traceability, targeted recalls, smart manufacturing, extended vehicle ledger, connected services, smart, EV segregated aggregate shall be reviewed after three years ,uses cases related to shared fleets/mobility as a service, asset registry, automatic transactions/cross border payments, finance, regulatory compliance, dealer and customer incentives, odometer fraud and warranty handling to be reviewed after span of five years and futuristic use cases of smart grid interoperability , retail and digital retailing and communication in autonomous vehicles to be reviewed after seven years.