Blockchain and Data Monetization: The Next Big Thing in the Automotive Industry?

Published on January 19, 2023

The automotive sector will see more transformation in the coming decade than in the last 50 years combined. Although the industry is already adapting to trends such as electric mobility, autonomous vehicles, and digitalization, the unprecedented pace of change shows no sign of slowing. As income streams switch away from hardware to software-based solutions, and blockchain-powered marketplaces for buying and selling data become increasingly prominent, we predict that data monetization will be a key revenue driver for the automotive industry in the future.

By 2027, big data is expected to be worth up to one trillion dollars. Over the same timeframe, technologies based on the blockchain (a highly secure register of digital financial transactions that works without any central authority) may have become so ubiquitous that they store more than ten percent of global GDP. Both trends have endless applications, but the blockchain poses a particular threat to the…

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