Whether for traffic congestion management, automated payments, or protected data access, customers are prepared to pay for innovative car-related solutions, according to a recent study. The database technology blockchain holds enormous monetisation potential for the automotive industry with numerous areas of application.

Blockchain is edging its way into the automotive sector. Car owners and other road users are already interested in the many ways in which this technology can be used, the strategy and marketing consultancy Simon-Kucher & Partners found in a recent study*.

Survey participants were particularly interested in time-saving solutions, such as traffic congestion management (19.7 percent) and automated payments (17.5 percent). Applications that reward good road behaviour, such as by offering adapted insurance rates for safe driving (11.7 percent) or financial incentives for particularly ecofriendly driving (10.3 percent) were also popular with participants.

“The added value of blockchain applications for the end customer is obvious,” says Antoine Weill, a Partner in Simon-Kucher’s global Automotive practice. “Car manufacturers need to bear in mind that they can generate significant profit from these applications.”

The study also revealed how much drivers would be willing to pay each month for various blockchain solutions: