Learn Blockchain | Your Car’s Service History On The Blockchain

Learn Blockchain

Created on: December 15, 2018

Updated on: January 06, 2019

Imagine that you won the lottery last week and you are flush with money, you won £60,000 and the money is in your bank account.

The car you have at the moment is an old one, you have tried to patch it up and mend it as you go along, however you would like to buy a second-hand car so that you can show everyone that you have a good run around.

The thing is that you have had a look online for a car and the second-hand car market has taken a turn for the worse. You think to yourself this is great at least I can pick and choose the kind of car I need for a run around.

Blockchain Explained Dealerships Buying a car these days is a little tricky, there is a trust issue associated with it, for example I good friend of mine bought a car from a dealership and this car was road tested and everything and when he bought it and took it from the showroom he realised that there were problems with the paintwork and it had been resprayed however it was flaky to say the least. He returned the car to the dealership and lost 6 thousand pounds in the process.

Blockchain Explained DVLA These days you can go to a DVLA website, the DVLA is a government organisation that manages the car ownership process and they have their own website where you can pay to check up on the car’s ownership history. As we all know some cars have been known to have been written off in an accident and then fixed up and resold.

One of the problems with this is that you don’t get the full picture when it comes to the service history of the car. As a car purchaser, we just don’t know whether the exhaust has been replaced and what type of exhaust has been fitted on the car. I know for sure I would like to have a 360-degree view of the car’s history so that I can make an informed purchase decision.

The DVLA database is a closed one this means that we as consumers are obliged to pay this central government organisation for access to data. Wouldn’t it be a great idea if we could see the car’s ownership history and the service history together with the transactions that were made to purchase those parts. These would be on an open system and the results would be placed on to the blockchain for everyone to see.

Cutting Out The MiddleMen This would mean that we cut out the middlemen i.e. the DVLA and this would mean that we have a transparent way of finding out whether the parts found on the car are the cheaper ones or the more expensive ones. I do think that we need to have a fundamental rethink about how the blockchain can be a force to be reckoned with when it comes to providing a holistic overview of the second-hand car market.

What are your views on this and how can we improve the second-hand market for cars?

I really enjoyed writing this article, and if you get a minute why don’t you take a peek at my Twitter and Instagram account DiverseCoder.

Why not take a look at our latest videos at: DiverseCoderTV for the latest investigations and innovations within #blockchainexplained, #web development services and #transport?