Stories from the Road 3 (An Automotive Case Studies Series)

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Since the cars were legally sold, the bank had no claim on the vehicles, which had been used as collateral. Meanwhile, the financing to the insolvent dealer has already been spent and needs to be written off. Is there a way for automakers to track vehicles so that this fraud can be stopped? It turns out that the same technology that can detect fraud could also arm consumers with irrefutable proof of how a car has been driven. With access to data, the asymmetry in information that plagues every used car buyer goes away.

I began advising a startup from the UK that had created a tag, track and trace system that used RFID tags that you could stick to the body of the vehicle. They built a custom reader device with an embedded SIM card that would read the RFID tag and then transmit the GPS coordinates to the nearest 3 cellular towers into a centralized database. It was envisioned that RFID tags would be attached to the vehicle at the factory and all the stakeholders along the supply chain would use their iPhones to scan the RFID tag as it passed various choke points:.

Based on the data captured, a complete geo-location history of the vehicle could be constructed by uploading the data into Google Maps, giving the vehicle a provenance history. It was a brilliant idea that used state-of-the-art technology to verify the location of a vehicle. There were however several problems that made the solution impractical for creating a full history of a vehicle:.

Every stakeholder along the chain needed to participate, so that there was no data loss.

Getting everyone to agree at the same time was nigh impossible. The data was centrally stored, under the control of a 3rd party. The manufacturer, the bank, the dealer, the car owner? Instead of forcing every stakeholder to opt-in from inception to make the whole concept work, blockchains allow for even just two counterparties to start sharing data immediately and gain value. As the value of the network is demonstrated, other stakeholders can opt-in to get value and give value to the network.

Because the datastore is a blockchain database, no single entity lords over the data.

stories from the road 3 an automotive case studies series Manual

Each participant controls their data and can grant access to others using key encryption or tokenized read permissions. Datasets can even be transferred, for instance, in the case when the car is sold.

One by one, the insurmountable challenges faced in have melted away because blockchains bring unparallelled control to users and complete transparency within a decentralized network. Based on the car history, artificial intelligence algorithms are able to confidently predict the resale value of the car at any moment in time.

Stories from the Road 2 (An Automotive Case Studies Series)

Being able to track a vehicle from assembly to disposal means that governments can better enforce environmental laws and audit manufacturers to improve car safety. It means that manufacturers can offer value-added data services to customers, while receiving subscription fees for those services. Service centers will be able to replace parts before they wear out, so cars can be safer. Everyone wins when data can be stored and shared in a decentralized database. Every industry from banking to manufacturing has the problem of a complex IT landscape.

This complexity acts as a heavy ballast to innovation and locks down valuable technical resources in sub-optimal roles.

In the automotive sector, there are several key ERP and manufacturing systems that generate vehicle data and control the manufacturing process. These systems must communicate with dozens or hundreds of systems downstream, which rely on datafeeds to perform their functions. For instance, when customer orders a car at the dealership, two requests are sent to back office.

The first request is for the manufacturer to start building the car.

The second request is to the bank for financing. The financing contract relies on the first request to successfully execute, before being able to proceed. Oftentimes, the first request is fulfilled, but the handover is botched and the financing process is stalled. Meanwhile, the IT team bloats in size and additional complexity is introduced to the system.

How Automakers Can Use Blockchain

Complex IT landscapes mean that business processes are less agile and can take years to change because the IT systems need to be updated. It means that information is lost, or worse contradictory across two different systems.

It means that customer service agents have to deal with angry customers and dealers when their car or financing is delayed. Based on the data captured, a complete geo-location history of the vehicle could be constructed by uploading the data into Google Maps, giving the vehicle a provenance history.

It was a brilliant idea that used state-of-the-art technology to verify the location of a vehicle. There were however several problems that made the solution impractical for creating a full history of a vehicle:. Every stakeholder along the chain needed to participate, so that there was no data loss. Getting everyone to agree at the same time was nigh impossible.

The data was centrally stored, under the control of a 3rd party. The manufacturer, the bank, the dealer, the car owner? Instead of forcing every stakeholder to opt-in from inception to make the whole concept work, blockchains allow for even just two counterparties to start sharing data immediately and gain value.

As the value of the network is demonstrated, other stakeholders can opt-in to get value and give value to the network. Because the datastore is a blockchain database, no single entity lords over the data. Each participant controls their data and can grant access to others using key encryption or tokenized read permissions. Datasets can even be transferred, for instance, in the case when the car is sold. One by one, the insurmountable challenges faced in have melted away because blockchains bring unparallelled control to users and complete transparency within a decentralized network.

Based on the car history, artificial intelligence algorithms are able to confidently predict the resale value of the car at any moment in time. Being able to track a vehicle from assembly to disposal means that governments can better enforce environmental laws and audit manufacturers to improve car safety. It means that manufacturers can offer value-added data services to customers, while receiving subscription fees for those services.

Service centers will be able to replace parts before they wear out, so cars can be safer. Everyone wins when data can be stored and shared in a decentralized database.

Every industry from banking to manufacturing has the problem of a complex IT landscape. This complexity acts as a heavy ballast to innovation and locks down valuable technical resources in sub-optimal roles. In the automotive sector, there are several key ERP and manufacturing systems that generate vehicle data and control the manufacturing process. These systems must communicate with dozens or hundreds of systems downstream, which rely on datafeeds to perform their functions. For instance, when customer orders a car at the dealership, two requests are sent to back office. The first request is for the manufacturer to start building the car.

The second request is to the bank for financing. The financing contract relies on the first request to successfully execute, before being able to proceed. Oftentimes, the first request is fulfilled, but the handover is botched and the financing process is stalled. Meanwhile, the IT team bloats in size and additional complexity is introduced to the system. Complex IT landscapes mean that business processes are less agile and can take years to change because the IT systems need to be updated. It means that information is lost, or worse contradictory across two different systems.

Stories from the Road 2 (An Automotive Case Studies Series)

It means that customer service agents have to deal with angry customers and dealers when their car or financing is delayed. Blockchain offers the opportunity to simplify. Because blockchains enforce a single source of truth, in real-time, the risk of two systems having conflicting information drastically reduces. Systems and people can act with more confidence, and faster, because they are accessing true and trustworthy data in that moment. Because system complexity is reduced, businesses can react faster to market demands to release a new product, provide value-added services or optimize operational efficiency in the supply chain.

stories from the road 3 an automotive case studies series Manual

Blockchains bring simplicity and speed to complex and slow systems, while reducing the costs to run IT. Stories from the Road - Automotive Case Studies 2 is a. To make autonomous vehicles safe, the Rand Corp and McKinsey estimated that 1 trillion road miles would need to be driven, to capture all the edge conditions to make self-driving cars safe. Toyota Research Institute TRI has set the goal to achieve the 1 trillion miles by opening up the data silos across all the self-driving research.

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