Introducing tamper-proof digital identities to car retailing and automotive IoT.
From competitive pressures on cost and performance to environmental pitfalls, there is one common challenge faced by the industry at large today — the absence of transparent mechanisms for verifying operational data generated by auto vehicles.
In contrast to siloed, password-based centralized systems, tamper-proof identities on the blockchain offer a path to transparency with secure authentication and authorization for every car that hits the road.
Interoperable and trusted digital identity management solutions aim to resolve this problem through secure management and storage of vehicle-generated operational data that can be applied in car trading and sharing services, automotive IoT, and autonomous driving.
The digital revolution is disrupting used-car retailing — for the better. This new wave of digital retailing represents more than technology alone because it focuses a spotlight on the importance of the customer experience in the used-car-buying process. McKinsey & Company.
The second-hand car market is rife with fact-checking concerns — from the lack of mechanisms to check the accuracy of the car’s history of ownership to costly third-party audit reports.
Case study: A major Japanese auto dealer has been dealing with the exact same problem. The offered solution is a cost-effective bundle of blockchain software and hardware modules.
Microcontrollers with secure boot are installed to each vehicle’s odometer and accelerometer. This drastically improves the company’s operations in the following senses:
Digital identity is the ultimate “vehicle for success” that must underpin the new mobility. IT Pro Portal.
In a still-nascent industry, most IoT technologies do not incorporate appropriate identity and access management capabilities, not unlike the early Internet which consisted solely of trusted institutions. Consensys: Blockchain in Digital Identity.
While the market prospects for new mobility and autonomous vehicles look quite promising, cyber-security and reliability remain the major roadblocks for wider adoption of automotive IoT.
To tackle this, a bundled hardware plus software solution can establish auditable digital identities for connected cars and AVs to secure authentication and vehicle-generated data.
Blockchain is used here to process the data collected from auto vehicles, while the hardware support ensures data source and invariance.
In doing so, the only access control performed is whether or not the transaction was signed by the correct private key — whoever has access to the private key is the owner.
Case Study: A Silicon Valley-based SaaS startup is building a DLT-based infrastructure with tamper-proof identities to enable Mobility-As-Service for one major automotive OEM. Here are some of the value props offered by their platform:
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