The growth of the Blockchain in the automotive and aerospace sectors will be very strong, according to Reportlinker

A report recently published by Reportlinker it has announced how in the automotive and aerospace sectors the growth of Blockchain technology will continue at a fast pace for the next decade. By the 2029in fact, the company's analysts predict how the use of registers distributed in these sectors will achieve an average growth of 60,35% per year, reaching a value of around 20 billion dollars.

Transparency and speed of transactions, to limit the risk of fraud

The same Reportlinker study bases its claims on the evident ability shown by blockchain technology to guarantee greater transparency and speed of transactions, while limiting the risks of fraud that still affect both sectors.
To better understand this point, just remember how according to some recent estimates, i car loans of US dealerships have been the subject of an impressive amount of scams, with estimated damage between the 4 and the 6 billions in the period between the 2011 and the 2018. So much to push General Motors, the largest automotive manufacturer in the United States to invest heavily in the system created by the Californian company Spring labs with the intent to use Blockchain technology in order to provide companies with information relating to the income and creditworthiness of those who request a loan from the dealership with the intent to purchase a vehicle and thus avoid ever more frequent scams.

The need for clear rules and adequate technical skills

Another point touched by the study in question is that which addresses the issue of the regional adoption of the Blockchain, which should be led by the North America, provided that we succeed in overcoming some problems which could ballast the process a lot.
In particular, Reportlinker analysts indicate in the lack of a clear regulatory structure and in lack of adequate technical skills a possible brake. Just to try to remedy these structural defects, within the 2022 the federal government of the United States it should however increase its effort in Blockchain technology, bringing investments in the sector to the figure of 123,5 million dollars, thus giving rise to an increase of more than 1.000% compared to the 10,7 million allocated in 2017. To remember it is in this case the analysis company IDC Government Insights.

Blockchain and automotive: the IBM study

Still with regard to automotive, it should also be remembered that already in 2018 one IBM study had already unveiled the ever increasing favor with which the top managers in the sector look to Blockchain as a disruptive factor in the automotive industry, expecting great growth within the 2021.
In particular, according to the drafters of the report, financial services, supply chain and mobile are the three main areas in which technology could bring very evident advantages. The only problem in this sense is theobvious delay by the OEMs (Original Equipment Manufacturer) and suppliers in understanding the possible and positive implications of a process of this kind, which could therefore cause considerable ideological resistance to its acceptance and a considerable delay in decision-making processes.