Blockchain for the automotive
industry
Blockchain is the technology which is
nowadays becoming too much famous and
growing very fast , it is one knd of system
which can be used to store the data or
infoemation in the block which are link
using cryptography. This block are secure
by cryptographic hash of the previous block
. This total system is decentralized. This
technology can bring thr automation
industry at different level , including the
storage of user dada , ease of transactions
between dealer and car buyer , etc .
Base of blockchain
When a user buys a car from the dealership,
the user gets assigned a public key / private
key combination and the user can use those
keys for every transaction they make on the
private company permissioned blockchain.
Some of the usage of blockchain are
mentioned below.
User friendly cars:
In case of car buyer dealer will provide a private
key to the user or buyer of car , the user uses
their private key to unlock or lock the car every
time. There is only private key that will match
the car’s public key and the owner will have
access to it. With the use of smart contracts,
owner can give temporary access to other users
(family members) or to a parcel shipping service
like UPS to place the parcel in the trunk of the
car in their absence. All of these actions and the
data associated with it is part of the
permissioned blockchain i.e. only participants
approved within the blockchain can interact. This
gives high data protection and security to the
owner. The opportunity to lease a car or even
sell the car becomes relatively easy. Owners no
longer need a third party; they can directly use
smart contracts between the two to facilitate
the transaction.
Financial Transactions:
In a cars lifetime, there are several times
when recurring payments take place e.g. car
insurance, car parking or car inspection fees.
These can be automated with smart contracts,
thus reducing user intervention. Paying tolls
can also be added to smart contracts with
national toll agencies, easing this process as
well. Electric car companies can also provide
the option of charging electricity with crypto
payments, adding better accessibility.
Automotive Security & Privacy
As connected and autonomous vehicles
continue to develop increasing the lines of
software code needed to control the vehicle
and increasing the number of connected
devices in the ecosystem, the number of
potential security vulnerabilities have also
been increasing. Experts at CSIRO,
University of New South Wales and Virtual
Vehicle Research Center addressed car
security using blockchain technology with
research suggesting that smart car
connectivity should adopt a decentralized
model to avoid issues associated with a
single point of failure. They propose a
system where data can be securely
exchanged between vehicles, smart homes,
software vendors and others, as well as
provide car owner privacy with blockchain
technology ensuring proper access control,
identity management and data integrity. An
interesting approach to automotive
cybersecurity is the combination of
blockchain technology with Software
Defined Perimeters (SDPs), which is a new
approach to cybersecurity that is designed to
provide on-demand, dynamically
provisioned secure network segmentation
that mitigates network-based attacks by
creating perimeter networks anywhere in the
world, whether it is in a cloud or a data
center.