How will Stellar blockchain unite automakers, startups, and government agencies?The auto industry giants are getting serious about blockchain research: BMW, General Motors, Ford and Renault, along with several other companies, have founded the MOBI consortium, which aims to find blockchain-based solutions for the automotive and transportation industries. The new distributed resource technology will have the potential to transform the automotive industry.
“We will create mechanisms that will be of interest to both the market and the state”
In April, the founder of the bitcoin agency KUNA talked about all the benefits of implementing blockchain technology in the automotive industry. Even now, blockchain technology is being actively incorporated into government mechanisms and processes of large enterprises, which is having a tangible effect at some stages of operational management. They also talked about the practical application of cryptocurrencies in the banking sector and the reasons for issuing national digital currencies, as well as the use of digital money.
These are undoubtedly big steps forward for the cryptocurrency world, and undoubtedly the introduction of the blockchain in the automotive sphere will bring significant benefits to both manufacturers and their customers.
Stellar: a peaceful revolution in the financial ecosystem
What is Stellar: a decentralized payment system, a platform for ICOs, smart contracts management, or a habitat for central banks’ own cryptocurrencies? One can only envy the ambitions of a project supported by IBM and ready to compete with the financial giant SWIFT. But these aren’t just words, today the Stellar platform already operates digital national currencies, and the system is used by a huge number of private users and businesses.
The day is not far off when automakers will start adopting blockchain technology one by one, and Stellar is currently the most promising candidate to meet business needs.
Is e-money licensing a key attribute for a competitive business space?
Economists’ opinions are divided when it comes to cryptocurrencies in the global economy and the real sector. Many see no future in digital money and predict the collapse of cryptocurrencies, believing that the economy can only exist on established canons.
And others are keeping up with the times and not only accept changes but also contribute in every way to the development of blockchain technology – consulting with developers, speaking at conferences and explaining to the world why cryptocurrencies have a huge future.
Despite this, experts believe that we should not rush with government regulation and let the crypto world develop in a free space. After all, any regulation generates restrictions that can hinder the evolution of technology.
We are now witnessing a massive expansion of blockchain, and very soon we may see crypto technology in the auto industry. When that time comes, we will laughingly remember how skeptical we were about blockchain a few years ago, sometimes just not understanding what it is.