Smart city development, blockchain for the vehicle registry: a study in Romania

Authors: Fakhri Abdoun, A. and Yazdifar, H.

Journal: International Journal of Financial Technology (FinTech)

Abstract:

The current state of business worldwide is being challenged by technology, which completely transforms old and arduous processes. As the main modern concern is overall data protection and the greater aim is building smarter cities, companies and government agencies are increasingly focused on blockchain databases. This paper focuses on the vehicle market, as it is continuously evolving sales-wise, technology-wise and for comfort/driving possibilities. While studies (Meticulous Market Research, 2020) show that vehicle Artificial Intelligence grows in revenue, they also prove that this is an insecure market, due to miss opportune hackings. Thus, a greater need for security is being expressed all over the vehicle market and many industry players have shifted their attention towards blockchain and its benefits. This paper investigates and describes the concept of vehicle industry in Romania focusing on students sampled from a small demographic segment, due to research limitations. The aim of this study is to examine the importance of having a blockchain system implemented and what are the challenges to have this in place. By analyzing the surveys gathered from 150 students, this study has found that a huge percentage of respondents have a positive attitude towards this technology, hence this is a valid solution for future implementation as it is discussed below in this research.

https://eprints.bournemouth.ac.uk/36091/

Source: Manual