Why Indian auto-makers are smarter than others in tapping blockchain?

No matter how much it is glorified, one major pothole that will keep any industry from squeezing full juice out of blockchain is this – lack of industry-wide standardisation. Unless…

No matter how much it is glorified, one major pothole that will keep any industry from squeezing full juice out of blockchain is this – lack of industry-wide standardisation.
Unless the whole ecosystem switches over to this new fabric, results and gains will always stay half-baked and fragmented, as many industry experts have noted time and again.
That’s why India’s autoville’s move towards blockchain is not just brave, but very ahead-of-the-pack too, in terms of smartness and scale.
Using something across the entire industry is the real formula that makes any disruptive technology work wonders, and Indian auto industry players have already shown that flair and foresightedness with autoDX, in the sphere of cloud usage. Now the industry is getting into high gears to apply the same model to blockchain.
While Mahindra and Bajaj have been experimenting with this technology behind their own walls, the industry is seriously assessing one blockchain across all OEMs (Original Equipment Manufacturers) and component companies (a figure of two billion transactions annually to only begin with).
The cost and benefits' upside aside, a universal blockchain will make it far easier and faster for the industry to get end-to-end supply-chain visibility and, hence, sharper vendor and inventory management, speed as well as efficiencies than when done in isolated pockets.
Get ready. A vendor management system on blockchain technology is underway.

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