As the blockchain technology is poised to revolutionize a broad range of sectors, it holds immense potential in self-driving vehicles and autonomous driving technology.
With the introduction of blockchain technology into autonomous driving technology, all self-driving vehicles including cars, drones, trucks, can be linked together along with the key infrastructure that is required to make them work.
The autonomous driving technology uses high-end machine learning algorithms to make sure that the vehicle and its passengers are safe and secure. Going through numerous hour of user driving data, these algorithms identify patterns that are used to make driving decisions.
Driving is only one aspect that the self-driving vehicles are going to perform after they are on the road. In reality, these self-driving vehicles would be required to handle all their actions such as pay for parking, fuel recharges, and other basic functions. This provides blockchain technology with a unique opportunity to assist in the functioning of the self-driving vehicles in carrying out machine-to-machine payments as well as pooling data.
Blockchain technology can be useful for storing the driving information as it doesn’t allow the training data to be tampered or compromised in any way. As blockchain is only distributed databases that is tamper proof, it can assist software developers to get direct access to the data from the drivers, resulting in a huge reduction in the time taken for the collection, sorting, and transmission of information.
Blockchain technology can also be used to make machine-to-machine payments. A decentralized network can be utilized as an ecosystem of closely interlinked components and it also removes gatekeepers such as administrators approving transactions.
A decentralized network will also enable self-driving technology companies and innovators to integrate their solutions into a greater whole. Also, on-blockchain communication is the area where all smart contracts are inked and all payments and other transactions take place. This takes advantage of the strengths of blockchain technology when it comes to securing, exchanging, and confirming information.
Off-blockchain communication is an area where vehicles, service providers, and infrastructure communicate. In the off-blockchain communication, a self-driving vehicle can send a message asking for a service station, charging station, or parking space and the infrastructure located nearby would respond to the queries.
Also, blockchain technology can identify and instantaneously reject any attempts at unauthorized access to control the self-driving vehicles. Even if high-tech hackers attempt to penetrate into the blockchain security, the effects would be significantly negligible vis-à-vis a centralized entity that can provide access to all vehicles at once.