Blockchain Based Verification Of Vehicle History For Pre-owned Vehicle Industry

Abstract

The automotive industry is one of the lucrative markets in the world. With the advancement of the human lifestyle, everybody needs a car for their daily business. Before buying a used vehicle, the history of the vehicle should be verified. Currently, the history of the vehicle is obtained from the second-hand vehicle dealers. The data provided by dealers need not be correct because they do not maintain a proper record. The only way for the buyer is to believe the dealer and proceed with the deal. To resolve these problems, we proposed a distributed framework using blockchain technology to verify the history of the vehicles. The creator or deployer in the system is responsible for creating the registration of the vehicle with a unique VIN and it will be updated to the shared ledger. Then the vehicles are distributed to the trusted dealers in the system with the execution of the smart contract in the supply chain and finally released to the user. In the running phase, the proposed model records insurance, real-time data and maintenance services, and legal issues if any. The main advantage of the vehicle verification on the blockchain is that it can reduce the possibility of fraud and counterfeiting documents.