VLB disturbs a multibillion auto market.
According to pymnts.com the use of big data and blockchain technology in the car industry is growing rapidly - big data in the auto market set to reach $4 billion by 2020 and blockchain end-point authentication in the auto market to be valued at $1billion by 2022.
Within the past year alone, weve seen the likes of Porsche and Toyota steer their way towards blockchain technology use. In addition to this, the blockchain technology market is also set to see some significant growth over the next few years. Research and Markets Blockchain Market Global Forecast to 2021 predicts blockchains Compound Annual Growth Rate (CAGR) will grow a whopping 61.5 percent within the next five years from $210.2 million today to $2,312.5 million.
VLB tokens (
www.vlb.io) is one of the IT companies that takes an advantage of the growing market. Major market players, such as car manufacturers, shop repairs, insurance companies and regulators, will be using a public blockchain database for exchanging data about car ownership, maintenance and driving history, auto parts, and car loans.
Read more at
https://www.pymnts.com/blockchain/2017/blockchain-tracker-the-auto-industry-revs-its-blockchain-engine/