India’s leading IT firm Tech Mahindra has announced a new venture to use blockchain technology for vehicle registration. While ambitious, the project remains in the early stages. Nevertheless, the companybelieves this project can optimize domestic vehicle registrations.
Easier, Cheaper, More Trustworthy
The idea underlying the move is simple: adopting the technology will not only make the registration process easier but also more trustworthy and cheaper. The current registration system in the nation is lanky, forcing dealers to take vehicles to the Road Transport Authority (RTA) for registration.
Mahindra: Blockchain Rids Corruption
“The proof of concept is ready from a technical perspective. Road transport departments of two states have shown interest. We are in discussion with them for undertaking pilots,” a Mahindra spokesperson commented.
To this end, blockchain adoptions of this sort can boost transparency in business or governance — a great solution for India, a country that has suffered from continuous corruption issues in recent decades.
Mahindra’s Other Blockchain Experiments
Last year, the company partnered with IBM to develop supply-chain applications. Moreover, the companywants to engage with blockchain startups from across the globe to help propel the revolutionary technology to its full capacity.
This year, Tech Mahindra planned to set up global blockchain start-up incubation center. Anish Shah, Mahindra Group Global President of Strategy, said: “We are looking at an incubation center for blockchain, which will be a global center.”
And in November, Tech Mahindra partnered with a blockchain-based energytradingplatform Power Ledger to launch a new service that focuses on clients dealing in microgrids. Power Ledger aims to trade electricity at an affordable price to efficiently distribute energy.
Alas, the march toward widespread blockchain adoption continues on.
Images via dnaindia, alpingi
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