A Closer Look at Block Chain Technology
Blockchain for Personalization, Opportunities and Challenges for...
Blockchain Rising: Have You Considered Blockchain for Your IoT...
Blockchain to turn Insurance into an Enjoyable Activity
Could Blockchain Technology Disrupt Commodity Trading?
Shane Randolph, Managing Director, Opportune LLP
Riding the Blockchain Wave: Challenges and Opportunities
Eric Piscini, Principal Global Blockchain Leader, Deloitte
Blockchain to Revolutionize the Financial Industry
Safwan Zaheer, Director, Financial Services Digital & Head of FinTech, KPMG US
Three Steps to Launching a Corporate Blockchain Initiative
Joshua Leland, Director of Blockchain for Development Solutions Lab, Chemonics International
Blockchain to Provide High-level Security for Autonomous Vehicles
The evolution of driverless technology has been replacing the current modes of transportation. Autonomous vehicles have troubles for security, authentication between user and vehicle, safely reaching the destinations, and secured mode of payments. Blockchain technology is a decentralized and public ledger used to store static records or transactions across a network of nodes that communicate with each other through public or private key encryption. Blockchain helps to evaluate the function of automated vehicles, and gather the information to improve safety and reliability.
As blockchain is transparent, they are being adopted for secure communications and payments among vehicles. Blockchain, which is called as Blocklet for trusted vehicle applications, follows peer-to-peer automotive blockchain platform and allows vehicles to follow the principles of blockchain technology. Automated vehicles need to be designed with hardware based on Filament’s Blocklet Technology that includes mobile connectivity, environmental sensing, and access to know the vehicle characteristics. With this, companies can create large-scale connected-vehicle services. The companies design the vehicles which assist smart contract applications. The autonomous cars engage in two-way communication with the environment, and the transactions are handled by themselves.
Smart contracts help the vehicles to identify authenticated riders. For example, blockchain technology can calculate vehicle usage based on time or speed. As the technology provides immutable vehicle history, the transactions are recorded in a digital ledger and offer a secure way of tracing the vehicle. With the help of blockchain technology, autonomous vehicles make secured digital payments at parking, tolls, and service centers seamlessly. A new system was proposed by the experts of CSIRO, University of New South Wales and Virtual Vehicle Research Center; this system can exchange information securely between vehicles, vendors, and provide privacy for car owners using blockchain by verifying identity and maintaining data integrity. These systems can protect connected and automated vehicles from cyberattacks. The environmental sensors help to assess the factors like temperature and humidity that can prevent unexpected incidents.
Blockchain technology has paved the way for innovations in the automotive industry. The blockchain is used as a platform to improve their cybersecurity for vehicles, check the bills of infrastructures, and provide secure digital payments, identity management, and data validation. Blockchain will assure trust and security which are necessary for self-driving. Blockchain has the potential to change the methods that data of a car is stored and enable a transparent database that can give the complete information of an autonomous vehicle.