The next generation of rewards - blockchain and tokens
Blockchain technology has many uses and advantages, and is set to disrupt nearly all industries, including the automotive industry. One of the big reasons why the technology is rising in popularity is the potential rewards that tokens can offer to members and users of blockchains. Let’s take a look at tokens and why they can be used as incentives.
Automakers and industry stakeholders need to co-operate and work together to unlock this immense potential that blockchain technology holds. VINchain’s long list of partners is testament to this, as it allows them to offer services such as reduced insurance premiums, vehicle history reports, and car services (purchased with VIN tokens).
Blockchain technology is already having a massive impact on the automotive industry. From manufacturing to insurance, and many more potential applications, blockchain is changing the industry for the better. Along with immutable data, so-called ‘smart contracts’ is changing the way we experience vehicle ownership.