GDPR moves the data ownership back in the hands of the data subject by providing them the fundamental rights to access, rectify, and erase their data stored by the businesses (or data processors). Even automated decision can be contested. Data processing needs consent as a foremost requirement. The individual has the full power to withdraw his consent anytime. In fact, if we look at the basic premise of GDPR, it is evident that the law is all about empowering ‘Data Subjects’ to have full control of their personal data.
And that is where Blockchain comes in.
While a lot of innovation is currently going into driving analytics, driver quality and apps, there is another area that is of significant interest to fleet operators: Accident/Infraction management. The annual accident rate for commercial fleets is about 20%. Fleet accidents have the most expensive injury claims for business with an average cost of about $70,000 per accident (with other reports sighting up to $500,000 per incident). In North-America alone, in 2016, more than USD 700 million in claims were recorded against trucks and other commercial vehicles. This is turn skyrockets the cost of insurance cover for this industry.
Do you have an upcoming project and wantus
to help speed up your time to market?