A distributed database that’s shared across a computer network’s nodes, blockchains are most prominent in cryptocurrency systems like Bitcoin, but their application is much more wide-ranging. In fact, organizations across most industries are either experimenting with or already using blockchain, and the automotive sector is no exception.
Valued at $350 million in 2020, the global automotive blockchain market is expected to grow to $2.84 billion by 2028 and is currently posting a compound annual growth rate (CAGR) of nearly 34%, according to Fortune Business Insights.
