Where the rubber meets the road: Blockchain, AI and automobiles – IoT Agenda
Between coin heists and ICOs, much of the attention around blockchain technology centers on bitcoin and other cryptocurrencies. (There’s even a bitcoin heist movie, if you’re interested). But as blockchain, the technology that underlies bitcoin and its brethren, grows in usage, there are intriguing opportunities for AI to work with it to transform the way all manner of financial transactions occur, and not just in the financial industry.
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Today, to rent a car, you’d go to a traditional car rental agency like Hertz or Avis, or belong to an “alternative” rental organization like Zipcar or car2go. In the future, you will be able walk up to a car to lease it, but you’ll do so with a micro-loan for which you are approved to lease the car for, say, an afternoon. This micro-loan will have insurance contracts attached to the chain and a codified history of the car’s history of drivers, events and maintenance. As you drive through the city and interact with toll roads and parking spaces, all of this information will be automatically recorded and monitored on the blockchain. When you leave the car and lock it, the lease is complete and auditable on the chain.