Reinventing the wheel: Distributed Ledger Technology as Enabler for Autonomous Vehicles
The full article was originally published by IOTA Archive on Medium. Read the full article here.
Roughly twenty years after the first automobiles appeared in the streets of the early 1900’s, the business model of horse-drawn carriages, lasting for thousands of years, was completely disrupted.
Fast forward 100 years and the automotive industry, once disrupting global means of transportation, is at the brink of being disrupted — ironically — by itself.
Next to the current transition from combustion engines to electric ones, computational advances might make fully autonomous vehicles a reality as early as 2020. Irregardless of such possibly overly enthusiastic expectations, vehicle manufacturers are going to face dramatic economic and technological changes in any case, as described below.
While for some, autonomous vehicles may still sound like an episode from the Jetsons, this article isn’t about a far away future. It is a rather dry outlook, based on cause and effect, starting with the challenges and efforts of manufacturers we are witnessing today.
But before we get to why Distributed Ledger Technology is the most obvious solution for a lot of challenges mobility providers are facing, let’s first have a look at the challenges themselves.