Decentralized blockchain networks that use automated smart contracts can potentially reduce ride-sharing costs by 20 percent.
Disruptive technology in the automotive industry.
Made Public Date
01/11/2018
Identifier
2018-B01232
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How Blockchain Tech Could Move Self-Driving Cars Into the Fast Lane

Summary Information

This article discussed blockchain technology in the automotive industry and examined how the Ethereum network could connect automobiles and other Internet-of-Things (IoT) devices to support automated vehicle applications.

 

In most US cities, there are about 100 times more roads than mass transit lines leading to significant opportunities for improved ride-sharing applications.

FINDINGS

 

Connecting drivers with riders using a decentralized blockchain network with automated smart contracts customized for ride-sharing would eliminate the 20 percent service fee required by large ride-matching services and enable drivers to save money and provide cheaper rides.

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Deployment Locations