Revenue opportunities are dealership opportunities

Here’s why: In many respects, the future of automotive retail is connected to blockchain because it’s a scalable, secure ledger system that can be used in virtually any type of transaction, no matter how small or what the data may be. In fact, auto retailers sit at the intersection where the use of blockchain may well open up possibilities for additional revenue streams, and lower operations costs. Here are three areas that come to mind:

1. Registration and title management
The streamlining of registration and title documents would be a big benefit in terms of time-savings, and cost. Instead of multiple online forms and software systems for in-state and out-of-state registration, a blockchain solution would connect all parties: buyer, seller, government, and third-party VIN and insurance databases. It would potentially make the process lightning fast and transparent to all. Just think: no more waiting 10 days for lender confirmation of title transfer. Thanks to this technology you can remarket that trade-in immediately.

2. Service and relationship management
Collecting data such as GPS, service, and driving tendencies is a benefit in the era of connected cars. When blockchain technology manages that data, the opportunities are wide open. For example... to read on click here