How will Web3 and blockchain shape mobility supply chains?

Blockchain technology is attracting interest from the automotive industry because of its potential to securely facilitate payments for both vehicles and vehicle parts without the risk of losing data. MarketsandMarkets, a market research company, reports a predicted increase for the automotive blockchain market from US$350m to US$5.29bn by 2030, a CAGR of 31.19%. This anticipated growth is due to the reduced manipulation of data, enhanced quality control and a need for faster business transactions.