A Proposed Blockchain-Based Solution for a Data-Driven Vehicle Lifecycle Management
A Proposed Blockchain-Based Solution for a Data-Driven Vehicle Lifecycle Management

Author(s): Ezmolda BAROLLI, Muhamet Zeneli
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Blockchain; Vehicle lifecycle management; Insurance; Digitize; Secure; Hyperledger fabric; Distributed ledger
Summary/Abstract: Vehicle lifecycle data and stakeholders’ data related to it have a non-open approach to data access. The lack of accurate, reliable, transparent, and accessible data consequently leads to a lack of trust, but also a risk analysis that is not always relevant. This paper consists of analyzing the factors to determine if a blockchain-based solution could increase trust and collaboration between different stakeholders in vehicle lifecycle management and the insurance industry. The goal is to model a data-driven approach on a blockchain-based solution that helps reduce barriers to finding data on all vehicle transactions. The methods used are based on the analysis of the current systems and platforms of vehicle lifecycle management and insurance policies from the business model perspective and security aspects. The proposed technical solution consists of a general architecture for a permissioned blockchain-based vehicle lifecycle management used by manufacturers, insurance companies, and other stakeholders.

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