According to Frost and Sullivan, a market research agency, automotive businesses will spend about $169 billion on implementing new technologies in their organizations by 2025, with about 0.6% of investments on the blockchain. However, blockchain adoption has its own challenges, chief among them being the complexities in implementation followed by the lack of governing clarity.
Blockedge Technologies Inc., an end-to-end blockchain infrastructure management platform to build and scale enterprise blockchains, today announced an hour-long session addressing the key challenges in adopting blockchain technology and delivering business transformation for the automotive industry, hosted by the MOBI (Mobility Open Blockchain Initiative) community.
Today’s automobiles are far more than just modes of mobility and have transformed into mobile data generators with integrated processors and sensors, IoT, telematics providing personalized services. However, this challenges the reliability and security of the multitude of data developed and processed. Moreover, enterprises large and small face several challenges in successfully adopting the technology and delivering business transformation. While Blockchain is an accepted technology, the automotive industry is developing standardized solutions for secured, trusted, and immutable data transactions.
Spearheading the session, our leaders – Raj Srinivasaraghavan, Chief Technology Officer and Srinivas Mahankali, Chief Business Officer, elaborates on the critical aspects of technology adoption challenges and effective solutions using the Multi-cloud Blockchain Management Platform and Integration Framework.
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