Where Blockchain Stands in the Automotive Supply Chain (.PDF Download)

April 4, 2022
Here are some of the ways that blockchain is being used in automotive manufacturing and supply chain management right now.

A distributed database that’s shared across a computer network’s nodes, blockchains are most prominent in cryptocurrency systems like Bitcoin, but their application is much more wide-ranging. In fact, organizations across most industries are either experimenting with or already using blockchain, and the automotive sector is no exception.

Valued at $350 million in 2020, the global automotive blockchain market is expected to grow to $2.84 billion by 2028 and is currently posting a compound annual growth rate (CAGR) of nearly 34%, according to Fortune Business Insights.

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