Blockchain technology has been making waves in various industries, and the automotive industry is no exception. The technology is seen as a game-changer, with the potential to enhance security and transparency in the industry. In this article, we will explore the basics of blockchain technology and how it can be applied in the automotive industry.
At its core, blockchain technology is a decentralized digital ledger that records transactions in a secure and transparent manner. The ledger is maintained by a network of computers, and each block in the chain contains a unique code that links it to the previous block.