Most executives of auto sector across the world believe that the use of blockchain technology can affect its growth. In the shared survey report of the IBM Institute and Oxford Economics, it has been reported that although it is at an early stage, it will have a negative impact on the sector for the next three years.
62 percent of the world’s top executives in the survey said that transparency and security will increase with this technology, but in the coming three years, it will be a barrier to the auto sector’s growth. Apart from this, 54 percent of executives believe that the new business model will affect the investment in the blockchain.
Another 54 percent say that they will be using commercial blockchain network in the next three years. In this survey, more than 13 hundred automotive executives of 10 countries, including India, were included. The survey said that with the use of blockchain technology in other business entities, new services and revenue could be generated.
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