Blockchain Adoption in the Automotive Industry

August 28, 2019
BLOCKCHAINAdoption in Automotive Industry

Industry Overview 6
Global Automotive Industry 7
Key Trends that are Shaping the
Global Automotive Sector 8
Executive Summary 4
Mobility Services 18
Supply Chain Services 23
Electric Vehicle Charging 28
Vehicle Autonomy 34
Data Monetization and History Data 36
Insurance 43
Marketplace 49
Loyalty 53
Other Solutions 55
Blockchain Technology Solutions 17
Raw Material Suppliers 12
Component Suppliers 13
Car Manufacturers/OEMs 14
Utility Providers/Energy Companies 14
Service Centers and Chains 15
Dealers and Distributors 16
Key Value Chain Stakeholders &
Participant 11
BLOCKCHAIN: Adoption in Automotive Industry

Blockchain Setup 58
Consortium-linked Approach 59
Startups 61
Automotive Companies 62
Others: Technology Player: IBM 64
State of Blockchain Adoption in the
Automotive Industry 66
Immediate Opportunities 67
Long Term Opportunities 72
Financial Backing 75
Conclusion 77
References 78

4
Globally, automobile manufacturers are looking to leverage blockchain as one of the key
enablers for the realization of the potential of autonomous vehicles. Legacy auto majors
have started shifting their focus towards adopting this emerging technology to remain
competitive in their markets. The adoption of blockchain technology is further gaining in
momentum as an innovative solution for other industry stakeholders including dealers and
distributors, parts manufacturers, and car owners.
A majority of blockchain-enabled automotive industry pilot projects target untapped
markets and focus on ………………………………………. In the near future, the industry will
witness a significant increase in blockchain-based innovative service offerings including
mobility services,………………………………………………………….as the majority of blockchain
services providers have already commercialized these services.
Going forward, global startups have either already entered or plan to enter the
blockchain-enabled automotive industry through pilot projects to offer disruptive
solutions for all stakeholders, while also building a strong ecosystem simultaneously. For
instance, blockchain-based innovative services including………………….., which are complex
and require more advanced infrastructure, constitute the long-term focus of several
blockchain service providers.
Blockchain Adoption in the Automotive Sector
With USD 3 trillion in revenues and a 15 million
strong workforce, the global auto industry is a critical
component of socio-economic development. The
industry is in the midst of a digital transformation for
effectively addressing growing regulatory norms and
safety standards. Further, auto companies must
adopt to a set of disruptive trends including the rise
of connected vehicles, introduction of autonomous
driving technologies, growth of mobility as a service,
and the spread of electric vehicles.
The industry is set for a marked technological
transformation and is witnessing a significant
increase in the adoption of innovative technologies
such as IoT (Internet of Things), AI (Artificial
Intelligence), ML (Machine Learning), and blockchain
(BC).
Executive
Summary

6
With over USD 3 trillion in annual revenue, the automotive industry is one of the largest
industries globally Second only to the energy and utility industries, the automotive
industry includes a wide range of stakeholders – from design, to development and
manufacturing, to the marketing and sales of these vehicles.
Currently, the automotive industry accounts for around 100 million cars (annually), vans,
buses, and trucks, and employs over 15 million people globally. Europe, Japan, South
Korea, and the US have emerged as the key manufacturing hubs for this highly
competitive industry (Figure 1).
Global Automotive Industry
Top Exporter of Automotive Products
(World - USD XX)
Figure 1: Top Exporter of Automotive Products

7
Key Trends - Shaping the Global Automotive Sector
Traditionally, the automotive industry is considered as being stable. It is characterized by
high costs of investment, labour intensive processes, and an overall low ROI. However,
over the last couple of years, the industry has been increasingly facing disruptive threats
including the rise of connected vehicles, introduction of autonomous driving technology,
the concept of mobility as a service, and the spread of electric vehicles. These threats
have been increasing additional margin pressure on legacy vehicle manufacturers.
Additionally, the industry is witnessing an inflow of new entrants with the adoption of
new age technologies, which have started becoming an integral part of the automotive
value chain by assimilating auxiliary industries.
Recently, the automotive industry has been driven towards innovation with respect to
addressing issues ranging from margin pressures to even evolving safety and emission
norms. The industry has been witnessing huge investment inflow in R&D to support the
cost reduction measures of auto OEM’s. While there has been a considerable increase in
the number of industry stakeholders focusing on this rising demand for innovative
solutions. In summary, the industry as a whole is heading towards technological
transformation and as a result had been witnessing a significant increase in adoption of
innovative technologies such as IoT, AI, ML, and blockchain to remain more competitive.
Regulatory Pressures Driving Focus on Alternative
Technologies
Over the past couple of years, the automotive industry has been facing increased
pressure of regulatory norms and safety standards, which is expected to increase cost
and complexities for the companies in the sector. Globally, the CO2 emission norms look
likely to tighten. Most markets such as Europe and the USA have already redefined their
CO2 emissions norms and other major automobile markets are expected to follow suit.
Regional regulatory bodies have also started to increase safety norms. These
developments are shifting the auto OEM’s focus towards developing alternative
technologies for lower-emission vehicles. The growing number of new entrants has also
resulted in a serious threat for legacy auto manufacturers. These pressures are expected
to push OEMs to invest more in alternative technologies to meet future emissions targets
in the backdrop of more recent scandals and creating space for blockchain and related
platforms or solutions.
8

8
Changing Role of the Legacy Industry Stakeholders
The entry of innovative and high-tech companies into the automotive space has changed
the business dynamics for the legacy auto manufacturers and suppliers. Despite spending
millions in R&D investments (Figure 3), the primary industry stakeholders are yet to
feature among the 10 most innovative enterprises, however, new entrants like XX have
de-facto featured in the top 10 innovative companies in the world at present. The
transition ushered in through the dramatic shift in the digital space has shaken the
elementary structure and the attitudes of the primary stakeholders shifting their focus to
offer customer-oriented innovations and treading away from a purely optimized
assembly-line outlook. The R&D investments of the primary stakeholders are now
concentrated on electric vehicles that is the future turf where they expect to face-off
against competition. Additionally, this transformation has also drastically changed the role
of primary industry stakeholders, for instance, legacy auto manufacturers have started
focusing on flexible production models, end-user driven innovations, unprecedented
collaborations with technology companies, overhaul of the drive system, etc.
Volkswagen AG Toyota General Motors Ford Motor Daimler AG
R&D Expenses of Top Automotive Industry Players
(USD Bn)
2014 2,015 2016 2017 2,018
Figure 3: R&D Expenses of Top Automotive Industry Players

Stakeholders&Participants

10
Car Manufacturers/OEMs
At automotive plants, automated production audits that help reduce overhead costs and
leverage smart contract features of blockchain solutions are gaining popularity. This is
evident from the collaborative efforts undertaken by XX, in partnership with XX, for the
development of a supply chain blockchain solution that sits on top of the existing XX in
XX.
Utility Providers/Energy Companies
With the rise of electric vehicles (EV), automotive companies and utility providers have
been working more closely than ever before. The search for cleaner sources of fuel that
could be traced to originate from green sources of hydroelectric, wind or solar instead of
coal or fossil fuels is another reason behind this emerging trend.
A subsidiary of the XX energy company XX, XX, through its e-mobility startup venture XX,
has launched a chain of blockchain-powered EV charging stations in XX. Their app is a
marquee e-mobility community platform that lets users access charging stations set up by
the company as well as existing charging points by making digital payments in XX.
We can expect the emergence of battery charging (or recharging) and the need for smart
grid and smart city infrastructure to enhance the opportunities for digital economies. The
emergence of these economies would further increase the penetration of technologies
such as blockchain on the back of explosive growth in the spaces of identity creation,
digital payments and the IoT ecosystem.
The utility providers facilitating charging of EVs will also leverage XX and smart blockchain
XX extensively, besides enabling XX platforms for valid XX energy transactions, and
unifying XX solutions and blockchain transactions for helping tackle the challenges of
energy XX and XX.
Stakeholders & Participants
With smart manufacturing being the new norm, the ability to control inbound plant
logistics increases efficiency and transparency in automobile manufacturing operations.
The combination of permissioned blockchain solutions that provide access to XX, along
with product quantity, status, and other information, helps ensure enhanced coordination
with participants of the inbound chain and ensure timely delivery of parts. Such
blockchain solutions also enable XX to schedule production and achieve a streamlined
flow of goods. At the part or component suppliers’ end, the introduction of BC-backed
solutions leads to improved inventory optimization, accurate order mapping and
matching, and optimal XX outcomes.2

12
The authenticity of the product is a major concern for consumers and supply chain
participants alike. Consumers want to know how their product was handled throughout
its lifecycle, and brands want to prove the authenticity of their data. With blockchain,
which provides a distributed ledger that adds information based on a majority consensus
mechanism, the authenticity of the data is assured. As the data is immutable and time
stamped, it provides an added layer of security. Hence, solutions leveraging blockchain
technology find wide application in supply chain services across industries.
Supply Chain Services
Solutions
Cables Airbags
Filters
Radiators
Break PadsMaster Cylinders
Alloy Rims
Tail Lights
Common Counterfeit Spare Parts
In the automotive industry, this includes track and trace to locate the source of each part
of a car. This tackles supply chain visibility, addresses counterfeit parts and product recalls
(vehicle or parts). Sofocle is leveraging Blockchain for track and trace solutions.14
The larger picture is USD XX and USD XX is lost by the legitimate automotive parts
industry to counterfeit tyre sales and battery sales respectively, i.e., XX% and XX% of the
corresponding sales of these sectors.15 Figure 6 highlights the most commonly
counterfeited automotive spare parts.16
Figure 6: Common Counterfeit Spare Parts

13
Startup Ecosystem
This section of the report summarizes the startup ecosystem as well the top industry
players currently leveraging BC solutions is provided in Table 3.
No. of
Startups
Funding Range
(Million USD)
Notable traction Events -
Industry Leaders
Stakeholders
XX XX-XX XX is involved in the XX
consortium as well has etched
partnerships across its partners
to influence the entire
automotive supply chain
including XX to XX.22 23 24
XX partnering with XX as a part
of digitalizing the automotive
supply chain and connecting XX
to build XX and quickly.
XX has developed its own in-
house blockchain based
solution to introduce XX in their
XX as well as their supply
chain.25
XX losing revenue and
reputation
Logistics/transporter
facing fraud, theft or even
geographic or logistical
challenges
Car manufacturer
suffering fraud and safety
issues due to
counterfeiting
Suppliers losing out
business to counterfeiters
and unauthorized agents
XX has partnered with blockchain provider XX, which provides data regarding the source
of XX, a raw material used in its batteries17. XX has always been associated with XX18, with
rising battery requirements (for mobile phones and electric vehicles), the need for
providing sourcing data regarding ethical mining of cobalt has become paramount.
Blockchain therefore helps unleash the potential of technology in automotive supply
chains, generating efficiencies, creating new business models, and building trust
ecosystems.19
Solutions
Table 3: Startup Ecosystem

14
Notable Startups Profiling
A brief profiling of the most prominent startups, their product and service offerings,
business and revenue models with a stakeholder overview is provided in Table 4.
Startups Comments – Case Studies
Stakeholders - Overview
& Segmentation
SyncFab
XX
XX
XX
XX
XX
All the firms are focused on providing
traceability solutions for the automotive
value chain. Syncfab provides a marketplace
with transparent order tracking based on
the Ethereum Blockchain.
XX solution, used by XX, involves
provenance tracking of XX sourcing. XX has
also developed a blockchain protocol for XX.
It has partnered with XX to track their lead
supply chain.
XX product, XX, is a XX that is blockchain
agnostic to combine business workflow and
blockchain core functions. It is compatible
with XX.
XX has provided a blockchain based solution
for XX, that allow them to ensure global
sourcing and contracting practices.
Miners, Mineral sourcing
suppliers
Processors
Suppliers
Compliance Monitoring
Agencies
OEMs
Automobile
Manufacturers
Case Study: XX
XX provides a private and permissioned platform to XX provenance of XX used in the
downstream industries. The solution uses XX since it is an enterprise grade software. XX
has developed an application that can be used across mobiles and desktops – the mobile
app is for scanning and downloading documents, while the desktop version provides
supply chain visibility.
Solutions
Table 4: Industry Stakeholder Overview

15
Business or Revenue Model
The solutions are provided by startups in this application are in a service (SaaS) based
format, wherein a steady transaction charge for each blockchain transaction generates
revenues for these startups. However, the stand-alone and enterprise specific
requirements in the sourcing or supply chain applications in the automotive domain have
led to business model such as that of XX that provide design and deployment services.
Provided in Figure 7 is an overview of the XX and a step-wise highlight of the business and
the revenue model.
Solutions
XX
A facial recognition system
called XX checks XX
XX tags check origin and refining
standards
XX
XX
XX
XX
Scan and Track components
facilitated by XX
XX
XX
Certification
XX
Track
S
O
L
U
T
I
O
N
Key Participants:
Car Manufacturers, Supply
chain participants such as
metal processors,
component
manufacturers, miners
The Solution:
The BC-enabled solution
provides a way to XX the
location, XX, duration and
operating conditions of a
metal processing.
Benefits:
XX
XX
XX
XX
Figure 7: The XX System

16
Provided in Figure 8 is the business model most widely being adopted while integrating or
introducing Blockchain for the supply chain services segment of the automotive industry.
Solutions
Use Cases
▪ Track origin of raw Material
▪ Trace material across its
lifecycle
▪ Ethical Sourcing
▪ XX
▪ XX
▪ XX
BC Fabric providers
(BC-FP) – Ethereum, XX,
XX, XX, XX, XX, XX, XX, XX,
XX,XX
XX
XX, XX, XX, XX, XX, XX, XX,
XX
Stakeholders (FBS)
Car manufacturers, XX, XX
XX
How is BC being Accepted in the industry
Supply Chain Services
Key Takeaways
▪ XX is the most popular BC
fabric for this Service as it is
Enterprise Grade
▪ The segment is equally
dominated by XX and XX
solutions
▪ Most adopted business
model:
+
+
Figure 8: Blockchain adoption in Supply Chain Services

18
As the automotive industry braces for falling revenues correlated to the dip in sales due to
slowing car ownership rate among millennials and the growing importance of the ride
sharing market, blockchain is poised to bolster automotive transformation. As a result, the
adoption of blockchain technology in the automotive industry is gaining momentum and
seeing a healthy growth in investments in the startup space.
In the blockchain-enabled automotive space, it is startups that are driving this highly
sought-after transformation by offering XX services to customers that have opened up XX,
XX, and XX. Each of these startups offer a wide variety of specific blockchain-enabled
services such as XX, XX, XX, XX, and XX, etc. Most startups are focusing on car data
management at some level as it offers the most promising future opportunities with
potential as it would integrate a number of cutting-edge technologies such as AI, Big Data
along with Blockchain among other disruptive technologies. According to a XX report, the
market for car-generated data is estimated to reach USD XX by 2030. At present, to
position themselves as ready to monetize
Startups
Figure 19: The MOBI Initiative
XX
XX
XX
XX
Vehicle identity
Supply chain tracking, transparency, and
efficiency
Autonomous machine and
vehicle payments
Secure mobile commerce
Data markets for autonomous
and human driving
Car sharing and ride hailing
Usage-based mobility pricing, and payment
for different industry stakeholders

19
Going forward, startups are expected to play a vital role in helping the struggling
automotive industry and become an integral part of future automotive value chain and
therefore are critical cogs of the automotive industry value chain at this point.
Additionally, startup’s innovative services are likely to interconnect different industry
stakeholders to provide seamless customer services and future-proof stakeholders
businesses and revenues.
Over the years, numerous legacy auto manufacturers have been actively taking steps
towards implementing Connected, Autonomous, Shared, Electric (CASE) strategy by
focusing on using blockchain technology for offering seamless experiences to their
customers. Additionally, the legacy auto manufacturers have not shied away from
investing billions in the expansion of their electric feet through an interconnected network
of battery producers, auto suppliers, and customers. Furthermore, a few manufacturers
are focusing on supply chain management to improve transparency and sustainability into
their value chain.
Automotive Companies
these early opportunities, startups have started building the required capabilities and
partnerships.

20
For automotive companies, another application area for blockchain solutions is in the XX,
XX, and XX. Furthermore, as a part of their CASE strategy, most automotive players are
choosing startups over XX to implement blockchain technologies which helps them to be
nimble, bring about speedy execution and enter the market rapidly and pip competition.
Also, in the long run, the legacy auto manufacturers are expected to heavily monetize
opportunities created by interconnecting vehicles.
Provided in Table 17 are the focus areas, services offered and execution strategy or case
example of the legacy auto currently focusing on blockchain technologies:
Automobile
Manufacturer
Focus Area Blockchain-enabled Service
Bosch
XX
Streamline XX process for drivers to find
a station, XX,
XX…………………………………………
Ford Motor
Company
Ensure XX
XX XX retrieval methods between XX and XX
Hyundai Smartphone-XX vehicle pairing
Toyota
Enable homes, businesses and XX
connected to the XX
Volkswagen
XX
XX
XX XX
Hyundai XX
General Motors –
Financial Arm
XX XX
Jaguar Land Rover XX XX
Table 17: OEMs Focusing on Blockchain Technologies

intheAutomotiveIndustry

APPENDIX

23
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volkswagen-uses-blockchain-tech-to-trace-raw-material-back-to-point-of-
origin-42862
2 https://www.sofocle.com/
securing-automotive-supply-chain-with-a-blockchain-based-solution/
3 http://lazooz.org/
4 https://helbiz.com/HelbizCar
5 https://getmycar.com/en
6 https://www.reinventingparking.org/2013/02/
cars-are-parked-95-of-time-lets-check.html
7 https://parkgene.io/for-private-spots/
8 https://www.parkingo.com/en/got-landing
9 https://www.crunchbase.com/organization/tribal-rides
10 https://www.crunchbase.com/organization/car2go-2
11 https://icorating.com/upload/whitepaper/
4EEqpBjKS3FIp1wbCObetm2gX3XlYRZMyvZ583EF.pdf
12 https://parkgene.io/wp-
content/uploads/2018/04/whitepaper_FINAL_V18.2.pdf
13 https://medium.com/redcab/how-does-the-revenue-model-of-
redcab-work-f0d59dde0f84
14 https://www.sofocle.com/industry/blockchain-in-automotive/
15 https://euipo.europa.eu/tunnel-
web/secure/webdav/guest/document_library/observatory/resources/re
search-and-
studies/ip_infringement/study12/tyres_batteries_sector_sector_en.pdf
16 https://illicittrade.com/infographics/common-counterfeit-spare-parts
17 https://www.reuters.com/article/us-mining-bmw-blockchain/uk-firm-
pilots-using-blockchain-to-help-bmw-source-ethical-cobalt-
idUSKBN1GH2UP
18 https://www.washingtonpost.com/politics/2019/02/21/demand-
congos-cobalt-is-rise-so-is-scrutiny-mining-
practices/?noredirect=on&utm_term=.596d24787f29
19 https://www.finboot.com/track-trace
20 https://www.crunchbase.com/organization/finboot
21 https://www.crunchbase.com/organization/syncfab
22 https://www.coindesk.com/ha-moment-Toyota-talks-vision-
blockchain-change-driving
23 https://www.industyweek.com/supply-chain/Toyota-merck-join-
Ethereum-group-buid-blockchain-network
24 https://cointelegraph.com/news/Toyota-uses-blockchain-tec-to-
reduce-fraud-in-digital-advertising-campaigns
25 https://openledger.info/insights/blockchain-use-cases-automotive-
industry/
26 https://www.hyperledger.org/resources/publications/tantalum-case-
study
27 https://www.powerledger.io/article/power-ledger-and-silicon-valley-
power-trial-to-turn-electric-vehicles-into-mobile-atms/
28 https://www.brooklyn.energy/
29 https://yourstory.com/2018/07/koinearth-aims-use-game-theory-
blockchain-give-fillip-sharing-economy
30 https://www.crunchbase.com/organization/blok-z
31 https://shareandcharge.com/vwfs-partnering/
32 https://economictimes.indiatimes.com/tech/software/wipro-joins-
bita-to-drive-blockchain-adoption/articleshow/65610719.cms?from=mdr
33 https://www.wipro.com/en-IN/utilities/electric-vehicle-charging-and-
opportunities-for-utilities/
34 https://medium.com/@blockchainfirst/the-first-multipurpose-
blockchain-enabled-ev-charging-station-d8265c1bcb38
35 https://shareandcharge.com/
36 https://www.chorus.mobi/
37 https://www.crunchbase.com/organization/hannah-systems
38 https://www.crunchbase.com/organization/dav
39 https://uploads-
ssl.webflow.com/5a4ea18a81f55a00010bdf45/5cb036d2df90440652059
9ea_20190331_v.1.3.0--fixed.pdf
40 https://noblis.org/mobi-phase-one/
41 https://www.oakeninnovations.com/
42 https://www.hannahsystems.com/#section-product-ecosystem
43 https://xain.io/
44 https://www.viseo.com/en/apac/groupe-renault-innovates-viseo-
and-microsoft-blockchain
45 https://www.amo.foundation/wp-content/uploads/2019/01/AMO-
OnePager-20190123-v4.0-EN-1.pdf
Whitepaper-v5.1-20190125-EN.pdf
OnePager-20190123-v4.0-EN-1.pdf
48 https://credits.com/ar/Home/case/3
49 https://medium.com/coinmonks/vehicle-passport-industrys-first-
blockchain-application-for-car-ownership-and-transfer-of-3c748dbf090a
50 https://vinchain.io/
51 https://www.carblock.io/
52 https://dovu.io/
53 https://www.amo.foundation/
54 https://www.vechain.com/
55 https://www.carvertical.com/
56 https://www.cbinsights.com/research/blockchain-insurance-
disruption/
57 https://enterprise.gem.co/
58 https://business.nasdaq.com/marketinsite/2017/Blockchain-Reports-
Gem.html
59 https://blog.advancedblockchain.com/blockchain-automotive-
marketplaces/

24
60 https://cointelegraph.com/news/car-retail-startup-to-launch-
blockchain-marketplace-with-live-vehicle-history-data
61 https://accubits.com/blockchain-for-automotive-industry/
62 https://medium.com/@poenitzsch/dlt-the-automotive-industry-
loyalty-reward-programs-a78063bc8dac
63 https://www2.deloitte.com/us/en/pages/financial-
services/articles/making-blockchain-real-customer-loyalty-rewards-
programs.html
64 https://www.cbinsights.com/research/loyalty-rewards-startups-
market-map-expert-intelligence/
65 https://www.cnbc.com/2018/06/07/scammers-create-a-new-form-
of-theft-synthetic-identity-fraud.html
66 https://www.forbes.com/sites/jimhenry/2018/09/28/identity-
thieves-probably-made-off-with-600-million-plus-in-cars-and-trucks-
transunion/#7c231dc645ad
67 https://www.forbes.com/sites/hanktucker/2019/06/12/gm-
financial-joins-23-million-series-a-investment-in-blockchain-startup-
spring-labs/#1af784f213fa
68 https://www.springlabs.com/
69 https://amfg.ai/2019/01/18/carbon-performance-revannth-
murugesan-expert-interview/
70 https://syncfab.com/automotive
71 https://medium.com/redcab/how-does-the-revenue-model-of-
redcab-work-f0d59dde0f84
72 https://shocard.com/identity-management-use-cases/
73 https://www.ibm.com/case-studies/koopman-blockchain-logistics
74 https://www.vinturas.com/news/vinturas-provides-automotive-
end-to-end-supply-chain-visibility
75 https://newsroom.ibm.com/2019-01-16-Ford-Motor-Company-
Huayou-Cobalt-IBM-LG-Chem-and-RCS-Global-Launch-Blockchain-Pilot-
to-Address-Concerns-in-Strategic-Mineral-Supply-Chains
76 https://newsroom.ibm.com/2019-01-16-Ford-Motor-Company-
Huayou-Cobalt-IBM-LG-Chem-and-RCS-Global-Launch-Block
chain-Pilot-to-Address-Concerns-in-Strategic-Mineral-Supply-Chains
77 https://www.ibm.com/case-studies/zf-friedrichshafen-ag
78 https://www.ibm.com/case-studies/tennet
79 https://www.ibm.com/case-studies/energy-blockchain-labs-inc
80 https://evcompare.io/market/
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