Tokenizing car reservations could open multi-trillion dollar market, analysis finds

Tokenizing inefficient vehicle reservation systems with blockchain technology could unlock a multi-trillion dollar market, Cointelegraph reports. The analysis suggests such a system could address high consumer dissatisfaction with the current opaque waiting lists and premiums on new car orders. By tokenizing reservation rights, deposits could be held in on-chain escrow, allowing consumers to freely trade their positions in the queue and thereby increasing efficiency. The report notes that major automakers like BMW and Mercedes are already experimenting with blockchain for supply chain management, automated payments, and decentralized identity, suggesting a potential for industry adoption. The Boston Consulting Group (BCG) has projected that the broader market for real-world asset tokenization could reach $16 trillion by 2030. Experts believe the application could extend beyond car reservations to other industries, including hotel rooms, concert tickets, and medical equipment bookings.