Markethive: Industries That Blockchain Will Radically Transform Electric Vehicles

Monday, March 12, 2018

Industries That Blockchain Will Radically Transform Electric Vehicles

The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at 25 industries that will be upended by its imminent commercial arrival.

Electric Vehicles

By 2040, 40% of the world’s vehicles will be electric.

There is incentive for the consumer to purchase electric vehicles. For one thing, they cost less to drive per kilometer than their gas counterparts. They are also far less detrimental to the environment and it is encouraging to see that the global conscience is growing increasingly sensitive towards our planet.

However, it is the nature of people to put convenience over planetary consequence and until a serviceable infrastructure is present, we can expect non-electric vehicles to hold their ground. eCharge is expediting our transition into a greener world with their e-charging stations for electric vehicles, another remarkable use of blockchain technology that could change the world. This addresses the longstanding problem of the impracticality of electric vehicles on long distance trips. Whereas previously a vehicle may run out of charge on a lengthy trip, eCharge will allow users to charge their vehicles at stations across Europe.

eCharge has partnered with 120 hotels and hopes to partner with another 1,000 by the end of 2018. Users will be able to book and pay for charge slots using their native ECH tokens.

Chuck Reynolds

Marketing Dept

Contributor