Hyundai AutoEver, a car sales company that is part of the Hyundai Motor group, today announced a partnership with companies Blocko and Lambda256, which provide infrastructure and blockchain services for developing Blockchain-as-a-Service solutions.
This blockchain platform will be used to record on the cloud all the history of the vehicle, such as the data of the previous owner, the age of the vehicle, the mileage and so on, in such a way as to eliminate the risk of falsification of information like, for example, the damage suffered by the vehicle itself. All this will be integrated with the established business model. The platform will allow, through smart contracts and other features of the blockchain, to send the data of the product requested by the customer who will be able to easily verify the information.
In addition, Hyundai AutoEver will integrate the blockchain into other areas of its company such as logistics and components, and in the future will also extend this to different areas of the automotive field such as the vehicle life cycle, UBI (Usage-Based Insurance) and MaaS (Mobility-as-a-Service), as stated by Hyundai AutoEver’s Team Manager, Lim Jae-Woo:
“I believe that blockchain technology will introduce the next IT revolution into the automotive industry”.