Disruptor Daily: 12 Startups Using Blockchain To Transform The Automotive Industry

“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.”

read more »

NXT CHPTR – Bringing Blockchain to the Auto Industry: Conversation with Pavana Jain, Chairman, CEO & Co-Founder, SHIFTMobility Inc

“SHIFTMobility brings the latest technology to the automotive industry–buyers, repair shops, manufacturers, and parts and tire distributors. We aim to understand the heartbeat of vehicles and communicate their specific needs to the automotive ecosystem. We use a Blockchain platform to secure, distribute, and validate transactions across all our constituents. In turn, these recordings ensure the security and integrity of customer and vehicle information.  These highly secure transaction records, from vehicle purchase to repair and parts, increase trust and promote transparency throughout the ecosystem.”

read more »

Forbes: Uberization Strikes After-Sales Vehicle Servicing Industry, Creating A $1.5B Dynamo

The uberization of vehicle services is then, in many ways, a mirror of how Uber upturned the mobility industry. It marks the emergence of new tech-based intermediaries who are using the power of e-commerce, digitization, and connectivity to completely disrupt traditional after sales dynamics. It’s a trend that has transformed every aspect of the service delivery process and marks a definitive move away from traditional vehicle “repair and service” models to a revolutionary vehicle ownership “management” paradigm that offers end-to-end solutions for car owners, fleets and installers.

read more »

SHIFTMobility Sets Sights on Auto Finance With Blockchain App – Auto Finance News

Users of a new app will soon be able to use digital currency to make payments on their loans and insurance, according to blockchain company SHIFTMobility. Come 2019, Redwood City, Calif.-based SHIFTMobility plans to incorporate lenders into its automotive ecosystem of service shops, manufacturers, and distributors, unlocking the possibility to use the partnership-wide rewards program to get discounts on loan payments.

SHIFTMobility’s lender partner program will enable users of the company’s recently released Vehicle Passport app to accrue digital tokens, called AutOns, to make insurance and loan payments.

read more »

Ratchet + Wrench: Blockchains and Your Shop’s Management System

Earlier this week, Ratchet+Wrench posted news regarding SHIFTMobility’s release of CarCheck Pro, a vehicle inspection service that enables any service center to add or retrieve vehicle information from blockchains. Ratchet+Wrench spoke with SHIFTMobility’s marketing director, Elliott Schendel to learn more about the product, and its tie in to blockchain. “Most people associate blockchain with cryptocurrency, but it’s a lot more than that. We have major financial institutions spending a large amount onto research into blockchain,” Schendel says. “I have no doubt that it’s going to spread throughout the automotive industry.”

read more »