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12 Startups Using Blockchain To Transform The Automotive Industry [Market Map]

  • 21 December 2018
  • Sam Mire

Making, selling and operating vehicles is an interwoven set of processes that are moving into the 21st century, with new technologies taking hold from the factory to the road. If the last ten years have taught us anything, it’s that even monopolized industries aren’t safe from economic or technological pressures. As car manufacturers brace for declining sales due to millennial price sensitivity and the prevalence of ride sharing, blockchain is poised to help foster real change. By powering trustless systems, blockchain could increase transparency across the industry while making transacting in the industry more affordable for everyone involved.

A number of companies are trying to implement blockchain technology within the automotive industry to solve some of its biggest problems. Most of them operate on the belief that decentralization will help make driving and buying cars more fair for consumers. They are also working on ways to help the struggling automotive industry leverage its data and are incentivizing consumers to more freely share their data. Read on to learn about the opportunities at the intersection of blockchain and automobiles.

Blockchain for automotive market map


CATEGORY #1: TRANSPARENT AUTOMOTIVE DATA

Blockchain market map - Automotive - Transparent automotive data

Digital tools like built-in GPS and onboard data collection are on the rise in vehicles, and, the amount of data that drivers share with manufacturers is growing. The trouble is that users have little control over how that data is shared, and they don’t benefit from its use. Businesses in the automotive industry would benefit greatly from enhanced, reliable mobility data, but they lack a channel to connect with driver data.

Blockchain could help resolve both of these problems by providing a decentralized data governance layer to automotive data, helping increase both the transparency and veracity of data in the industry. These companies are working to use blockchain to improve the quality, accessibility, and security of vehicle and driver data.


carverticalcarVertical

carVertical is attempting to make CARFAX a thing of the past by building a more detailed, trustworthy vehicle registry on blockchain technology. They acquire information from private and national registries, as well as from onboard diagnostic devices to ensure that information is abundant and trusted. From there, the car’s “biography” is stored on carVertical’s immutable, decentralized database so that owners and potential customers can make decisions with as much information as possible.

Founded: 2017

Funding type: ICO


shift-mobilitySHIFTMobility

For automotive repair shops and service centers, SHIFTMobility may be a valuable tool for staying up to date on the latest innovations in connected vehicle technology, cloud computing, and other areas of consequence to the industry. By way of SHIFTMobility’s blockchain-enabled platforms, automotive professionals can access useful decentralized apps, diagnostic tools, and service intelligence. The platform also has more conventional tools, including service estimate algorithms, parts ordering, diagnostics, and more.

Founded: 2012

Funding type: Venture-backed


gluonGluon

Gluon takes performance tracking and maintenance management digital, using the blockchain as a way to share data. The Gluon platform will be a particularly valuable tool for those managing large fleets of vehicles: cab companies, public transportation administrators, and the like. Individuals and businesses can share information about their vehicles with parts manufacturers, repair shops, and other service providers, with critical information updating in real time for more comprehensive oversight on vehicle maintenance.

Founded: July 2, 2015

Funding type: ICO


carblockCarBlock

CarBlock describes itself as the world’s first intelligent transportation solution based on blockchain technology, combined with intelligent hardware data collection. They collect mobility data on an immutable blockchain for regulators, insurance companies, and beyond.. It’s up to the data’s owner to decide how the information is used and shared.

Founded: 2017

Funding type: Venture-backed


mvlMass Vehicle Ledger (MVL)

The Mass Vehicle Ledger (MVL) is an ambitious project that seeks to collect a store of vehicle information from all sorts from participants in exchange for MVL Coin (MVL). That data includes but is not limited to traffic accidents, driving patterns, repairs, and transactions made while in the act of driving. It will be authenticated using blockchain technology before it’s sold to car manufacturers, insurance companies, and whoever else may find that information useful.

ICO presale: Apr 26, 2018

Funding type: ICO


vinchainVINchain

VINchain is a decentralized marketplace for trustworthy vehicle data. Their global database is centered on data authenticity and transparency, two aspects which are made more possible by blockchain. Users can implement vehicle tracking data to put more-accurate information in the database and be rewarded via VINchain tokens. The goal of VINchain is to eliminate falsified, incomplete data from the process of buying a used car.

Founded: Jan 1, 2017

Funding type: ICO


amoAMO

AMO is a blockchain-connected database that curates and optimizes vehicle data while simultaneously granting the user control of which information they provide to the platform. This concept a way for individuals to make money from all the driving they’re going to be doing anyway. Data provided with owner consent can be traded or purchased by anyone who wants it. 

Pre-ICO: Jun 9, 2018

Funding type: ICO


CATEGORY #2: DECENTRALIZED MOBILITY & SHARING SERVICES

Blockchain market map - Automotive - Decentralized mobility and sharing services

It wasn’t too long ago that people couldn’t imagine hopping into a stranger’s car for a ride. Nowadays some opt for ride sharing services over owning a vehicle entirely. The trouble is that we all rely on centralized services like Uber and Lyft to carry out these functions for us.

Blockchain has the potential to decentralize ride sharing and vehicle sharing services alike, removing middlemen to create more equitable prices. It also helps create simpler mobility services for drivers who are tired of complex fee structures. These companies are working to take blockchain solutions to a more decentralized driving ecosystem, changing the way we think about our mobility.


helbizzHelbiz

Helbiz is a car rental service built with ease of access in mind. You can browse their fleet of electric vehicles on their platform, which informs users of vehicles available in their area. The app then lets users unlock the car, and the push-to-start feature of Helbiz’s vehicles means users can simply get in and go. The blockchain automatically handles payments when the trip is complete.

Founded: Oct 16, 2015

Funding type: ICO


one-car-paymentOne Car Payment

One Car Payment is a rather literal name considering that it’s a blockchain-driven platform where one monthly payment takes care of all your car-related expenses. Their smart payment schedule lets users consolidate their loans, insurance, and maintenance costs into a single lump payment, adjusted each month as expenses fluctuate. Their blockchain implementation operates in conjunction with AI to execute these payments in a way that is easily-referenced, regardless of time. It will also offer other features, including lending services.

Founded: Feb 1, 2017

Funding type:  Private


parkgenePARKGENE

PARKGENE purports to make the parking experience easier and more affordable. It uses the blockchain to circumnavigate fee-sucking centralized services — the owner of a parking space and the driver alike can make out with more cash in their pockets. They aim to do this by utilizing short-term and long-term parking spot rental contracts that automatically pay out using smart contracts. Users can book spots in advance, which eliminates the headache of finding a spot a reasonable distance from your destination.

ICO: Jan 15, 2018

Funding type: ICO


get-my-carGetMyCar

Italian startup GetMyCar calls itself the Airbnb for car rentals. It’s a peer-to-peer network that lets individuals rent their vehicle out to those in need of a vehicle at any given time. It’s also suited to businesses that want to lease their fleet of vehicles out to individuals without relying on any middlemen. GetMyCar offers lower costs, built-in insurance, and an easily-accessible platform to make it happen.

Funding type: Venture-backed


bitcarBitCar

BitCar suggests that collectible exotic cars are one of the best-performing asset classes of the past decade. Too bad they’re so damn expensive. The company seeks to change the demographics of who can invest in them by tokenizing high-priced cars so that average investors can make micro-investments. Eventually, investors can trade their way up to complete ownership. BitCar’s asset token CAR is tied to the vehicles themselves, giving the coin a tangible standard of value.

Founded: 2015

Funding type: ICO

 

Want more blockchain in automotive content?

Read: Blockchain for Automotive: 10+ Possible Use Cases

About Sam Mire

Data journalist and market research analyst focused on emerging technology, trends, and ideas.

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