A recent news article on our website covered the news where Bitcoin Millionaires have been buying luxurious assets like Lamborghini via cryptocurrency. Now another very famous luxury car brand, Audi is set to make its debut in the crypto and BlockchainTech world. The brand is set to have Blockchain based operation.
However, since several business areas such as Finance, Production and Logistics, and IT, have already been experimenting with distributed ledger technology, this piece of news shouldn’t come as any surprise.
Here, Audi is looking at streamlining operations for something more than Finance. Currently, the main use of BlockchainTech has been just limited to finance domains and bringing out cryptocurrencies. However, this technology can do so many more functions in its entire capacity.
The technology provides Transparency, efficiency, cost reduction and security against any attempt to manipulate things. One must not forget Audi/VW fiasco about “https://en.wikipedia.org/wiki/Volkswagen_emissions_scandal” target=”_blank” rel=”nofollow noopener noreferrer” style=”color: #0c71c3″>the fudged data on emissions that cost the auto manufacturer a mere $2.8 billion fine and tarnished the reputation of VW for many years. Of course, Audi is a subsidiary of VW Group.
Thus, while Audi adopts Blockchain Technology for its operations, it also demonstrates how other facets of technology can be exploited other than finance.
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