Blockchain in the Automotive Industry

Automotive companies globally are keen to learn how Blockchain can assist in making their organisation to be more efficient and effective organisation. The advantages of blockchain-based solutions enable fast, secure and cost efficient commercial interactions that businesses are striving to aachieve. One such industry is automotive manufacturing. Some use cases of Blockchain technology in automotive industry are:

• Collaboration with variety of partners securely during the design and build phase
• Increase efficiency of the entire automotive production process
• Reduce time to market

These are just few use cases where blockchain has its implication right from the conceptual phase to the point when the car rolls off the assembly oline..

When Japans’s top CIO came across the Loyakk platform and these were his thoughts: “Blockchain-powered business networks is a very compelling notion when you consider the needs of business to stream-line & secure interactions across the business partner network. Loyakk’s vision and platform to create decentralized Value Webs holds much potential” — Anthony Thomas Global CIO, Nissan Motors

The Loyakk Vega Platform

The Loyakk Vega has utilized the power of blockchain technology to device a Business Relationship Platform that allows complex and bulk exchange of information, within as well as outside the company. All this means faster and secure transfer of information among all parties participating in a business process. Being built on top of blockchain allows Loyakk Vega to inherit all strengths of the blockchain technology.

Automotive industry today has grown up to a multi-billion dollar industry yet the mode of business communication is slow, prone to errors and is still ambiguous. According to recent survey conducted by consulting firm KPMG, ‘Cyber-attacks and data breaches affecting automakers may be more common than anyone had believed’. [i]

Loyakk Vega is designed to overcome all these limitations. Businesses harnessing the Loyakk Vega platform will benefit from new proprietary patent-pending extensions designed to cater for modern business needs.

Here is what Loyakk Vega offers:

· Seamless interaction among all stakeholders that are part of the business process this include the organization itself and its partners, distributors, suppliers and most importantly customers.

· Every interaction on Loyakk Vega platform like sharing of relationship information, sales and other business data is secure, auditable and immutable.

· Using Loyakk Vega, scope of interaction is decentralized and distributed across the entire globe.

· Support variety of transaction types and validation models, designed to help organizations meet there strategic goals.

These are the transformation which Loyakk Vega will bring and its already happening. Remember, Bitcoin in 2009 was $0.009 USD. Loyakk Vega’s beginnings are just the start of a long stream of success.

To learn more about Loyakk Vega, please visit the website