Inspiration
The odometer rollback is an illegal practice. With the current tools and technology, a buyer of a used car is never confident about the mileage of a car. He can deterct a fraud but cannot know the exact mileage. the following articles stress on the need for a solution to protect the final consumer.
https://www.carfax.eu/article/mileage-rollback
What it does
Blockwheels is a platform that provides a buyer with the ability to check vehicle history before deciding to buy a second-hand car in order to evaluate properly its value since hidden faults may be expensive to remove. The platform is a consortuim blockchain, connecting all the stakeholders involved in a transaction of buy or sell of a used car such as Banks, insurers, vehicule registration authority, cars, buyers, sellers, car dealers ... The car can communicate directly with the blockchain. And thanks to the immutability and security features, the information stored in the decentralized ledger will be accurate and reliable. The client can trust all the details stored onchain, and can securily evaluate if the car is interesting or not. insurers and bankers can also benefit from this platform by being informed about market opportunities related respectively to morgage and insurance contract. The registration authority is also connected to the platform, it provides with details about the owner and the legal situation of the car. All this process can be managed instantly, with no need to any paper and no need to intermediaries. the delivery versus payment is processed instantly once all stakholders agree on a consensus.
How we built it
This is possible thanks to Blockchain and IOT. The car is represented by a raspberry Pi that is connected to blockchain (distributed ledger) . We have implemented ethereum protocol, with as many nodes as players. we have also implemented a decentralised application allowing the owner of a car to change the status of his car to "For Sale" through a website. The buyer can access all the inforamtion of the car, and can book, contract a loan, insurance contract and close the deal using our mobile application.
Challenges we ran into
GRAND PRIZE
- "Best overall Blockchain project".
Accomplishments that we're proud of
This solution is resolving a concreate issue raised by European union ( check the following link) Blockchain offers more than crypto and ico platforms, it can resolve complex issues and improve the life of the final consumer with real use cases.
What we learned
Every player can benefit from the revolution of blockchain. it can also make money by implementing platform as a service PAAS and open it to the startups ecosystem to implement tehir own dapps.
What's next for BlockWheels
This platform is providing the industry with a complete and accurate information about used cars, most sold brands, ... A layer of Artificial intelligence can lead to an industry-wide collaboration; Data analysis can be performed by a third parties. Statistics related to sales, brands, … can promote the industry wide collaboration.
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