IBM Blockchain Car Lease Demo

car companies make leasing look easy but in reality it can be quite complicated a significant challenge faced by today's car leasing networks is that even though the physical supply chain is usually integrated the supporting information systems are often fragmented imagine a world where every participant in this network could monitor access and share and analyze consistent and up-to-date information irrespective of where the vehicle is in its lifecycle imagine one agreed view of the complete vehicle history and how this would improve service warranty and/or recall costs by providing an agreed shared record of vehicle information as its transferred across the supply chain blockchain solutions from IBM can deliver just that let's take a look at how this would work the government regulator creates and populates the registration for the new vehicle which is loaded onto the blockchain the smart contract ensures that only the regulator can do this the regulator then transfers ownership of the vehicle to the manufacturer by invoking a transaction on the blockchain the transaction is verified if all relevant parties agree this is referred to as consensus and it's made more efficient through blockchain usage IBM blockchain allows the validation method to be tailored to meet the needs of the business network the manufacturer adds the make model and vehicle identification number to the vehicle template again as permitted by the smart contract this update is visible to all members of the supply chain with the right permission for example dealerships in the network can see the new stock availability the vehicle can then be transferred to the dealership on execution of a smart contract of sale again the transaction is verified if all relevant parties agree and the vehicle template on the blockchain updated for all members of the network with appropriate permissions to see after the vehicle is transferred to the leasing company Alessi can finally lease the car this synchronised process continues across the supply chain as the car passes to the end user and eventually to the scrap merchants who as governed by the smart contract has permission to dispose of the vehicle at the end of its life at all stages the security integrity and validity of vehicle information is assured using proven cryptographic services with IBM blockchain you will be able to reduce the processing time to minutes instead of days since all the data is now stored in a secure distributed ledger all members of the supply chain never have to worry about vehicle information inconsistencies leading to increased efficiencies improved resilience with mitigation from cyber security and fraud risks and not just that IBM blockchain will significantly bring down the processing costs by reducing the overhead associated with intermediaries you

21 thoughts on “IBM Blockchain Car Lease Demo”

  1. Crypto News for today on The Crypto Sight – Crypto Insight Blocko and Hyundai to Use Blockchain to Track Used Cars

  2. Talking about blockchain use cases, here is a great example of two industries slowly colliding. It is estimated that by the end of 2025 more than 8 million ‘smartly developed’ cars will be en route while having higher levels of automation installed. These smart cars will definitely need to tackle challenges in terms of data insecurity, remote vehicle support, incentivizing, supply chain, and theft.

  3. We are still in the early days. The practical applications of this blockchain technology will continue to develop and mature. Here's a list of ideas what this technology can do.

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  5. 0:57 how does the smart contract ensures only the regulator can do this? I would really appreciate if someone can point me to a relevant tutorial or source. Thanks!

  6. This would be fine for China. Regulators do not determine what type of cars are manufactured by the industry. Why would IBM create a blockchain starting with a regulator?

  7. Who are the relevant parties? Who determines who can be a relevant party? Can an entity dominate a percentage of relevant parties to manipulate the info by controlling the consensus?

  8. so what is this IBM blockchain? is it related to stellar lumens? what is the trade symbol XLM or STR?

  9. For those who want to invest in a good ICO, one with a solid team behind it, great ideas, working business model and achievable goals. I suggest you take a look at Cointed ICO, here is a link to the official webpage

  10. Since the Blockchain's information is open to everyone, could you see who (hash value) is driving to which destination?

  11. Imagine immutable government control over any and every asset and transaction in your life.


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