"Blockchain must impact on remarketing"
Stripping blockchain to its core principles and explaining how it can benefit the industry: that is what Philip Thompson of Autoxchange.io did today at the Fleet Europe Remarketing Forum.
As remarketing is becoming more data-driven, blockchain can provide a solution to improve both dealer and trader efficiency, transparency and service. Moreover, other market dynamics, such as increasing environmental concerns, the shift from ownership to usership and MaaS, are driving this kind of innovation.
In his bold but accurate explication, as a blockchain for dummies, Philip Thompson demonstrated what blockchain is about, and moreover how it can benefit the industry and improve profitability in various ways.
Blockchain can be used to store a variety of vehicle data in a highly secure way while increasing user convenience and preventing fraud. At the same time, blockchain can improve profitability in the industry, for instance by eliminating the need for middle-men, banks and transaction fees, and providing real-time and borderless payment services.
The aforementioned issues, which can be addressed by blockchain, are becoming more meaningful and important in the remarketing industry, which is more and more data-driven; or as Toralf Lahs (VP Sales of Autoxchange.io) ended: “We believe blockchain can and must have an impact on the remarketing industry”.