Detach the blockchain to its core principles and explain how it can benefit industry: this is what Philip Thompson of Autoxchange.io did today at Fleet Europe's Remarketing Forum.
As remarketing is becoming increasingly driven by data, blockchain can provide a solution to improve the efficiency, transparency and service of both dealers and traders. Furthermore, other market dynamics, such as increasing environmental problems, the transition from ownership to use and the MaaS, are driving this type of innovation.
In his bold but accurate explanation, as a blockchain for the mannequins, Philip Thompson has shown what the blockchain is, and also how it can benefit industry and improve profitability in various ways.
Blockchain can be used to store a variety of vehicle data in a highly secure manner, increasing user comfort and preventing fraud. At the same time, blockchain can improve the profitability of the sector, eliminating for example the need for intermediaries, banks and transaction commissions and providing payment services in real time and without borders.
The aforementioned problems, which can be addressed by blockchain, are becoming more significant and important in the remarketing sector, which is increasingly driven by data; or as concluded by Toralf Lahs (VP Sales of Autoxchange.io): "We believe that blockchain can and should have an impact on the remarketing sector".