INTEGRATION AND IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGIES IN THE AUTOMOTIVE INDUSTRY

Nexhibe SEJFULI-RAMADANI, Borislav POPOVSKI, Aleksandar RISTESKI

Abstract

This paper provides an overview of the blockchain models implemented in the automotive industry, including energy trading and charging models, vehicle communication models, material tracking models, and lease history models. It explores the effectiveness of these ideas, as well as their respective advantages and disadvantages. Additionally, the paper discusses the latest advancements in the digitalization and decentralization of critical automotive data, including car registration, maintenance history, prices, and standards, as well as tracking and navigation. It highlights the potential of blockchain to increase transparency and reduce fraud. Specific examples of companies and organizations using blockchain technologies in the industry are also provided, and potential future developments and emerging use cases are discussed. Lastly, this paper addresses potential criticisms and challenges to the use of blockchain technologies in the automotive industry. Through this comprehensive examination of the topic, readers will gain a deeper understanding of the role of blockchain technologies in the automotive industry and its potential impact on the future of the industry.

Pages: 283 - 291