Speeding up negotiations for prototypes in an industrial project using blockchain technology

Abstract

Vehicle development projects are increasingly exigent in a highly competitive automotive world. The profitability of those projects can only be assured by seeking optimisations in the way they are performed. Project managers and their teams require support from tools and technologies that can deliver better results. In this context, blockchain technology is proposed to play a key role in vehicle projects, particularly in applications such as parts and prototype management. It will ensure the traceability, immutability, and decentralisation of the information, and it will also lead to shorter negotiations, which will contribute to keeping the project milestones on time. This research presents the details of a real case for a prototype management request in a vehicle project. It proposes how blockchain technology can be applied to improve the traditional approach to handling this type of request, yielding several benefits that will be highlighted.