Buying a used car relies on a certain amount of trust from whoever you are buying it from. I know when you buy a car at an auction house they say it is "voetstoots" which is basically what you see is what you get and is as is with no comebacks on them once purchased.
The MOBI Blockchain is about to change the motor industry as we know it and already has major manufacturers on board. MOBI stands for Mobility Open Blockchain Initiative and the original thought behind it was to help increase road safety and lower carbon emissions. I believe it could do a whole lot more than just that though. This would help regulate the motor industry making everything transparent offering something that has been severely lacking.
Now imagine a block chain that has an inventory of every car manufactured around the world. Each car would have a VID or vehicle identity with data on the entire history. Added information like sales history of who the owners were, service history and any repairs due to accidents. An identification summary of what you are purchasing or considering to purchase giving you the data that will help you decide if it is a good decision or not.
I know we have a problem in South Africa with cars being stolen and sent across the borders having their identities changed via paperwork and being sold on under false pretenses to buyers who may or may not know it was stolen. This blockchain would force this to stop as buyers could see the history immediately knowing it was stolen plus insurance companies could red flag refusing to cover that vehicle.
In the past am I am sure it is still happening where high end cars were being stolen out of major cities around the world and ended up in the middle east with new identities. This like in South Africa would make this almost impossible to pull off as fake paperwork will not be able to hide the vehicle. You can remove serial numbers but then that is all too obvious plus what vin number are you going to change it too as that could also be easily checked now.
Further more law enforcement could use the data as it would be like the holy grail of information for any car they pull over. Stolen cars would be so hard to hide as everyone could be using an up to date database with nothing slipping through the cracks wherever you are in the world.
BMW suggested adding odometer readings with modern cars having regular updates talking to the blockchain through their VID. This would prevent cars having incorrect readings with turned back clocks which leads to higher prices. Blockchains would stop many shady things and bring them into the open.
Another addition being worked on is real live mapping using the sensors on the cars to generate a "live" map sending information every few seconds. The new cars being manufactured today have a minimum of 25 sensors which could send data on regular intervals. The think tank behind this believes that 5G is too small to handle this so this may have to wait. 6G is planned for the 2030's and will require everything we know now to have already been changed and various technologies to have moved on.
Blockchains are here and they are only going to get more traction intermingling with every day life as data will run our lives in the future. We can se that this type of Data will have other blockchains working together sharing their information providing services.
