Decentralized Vehicle Registration: A Blockchain Approach
摘要
This paper explores the application of blockchain technology to the vehicle registration process, leveraging its immutability, security, and transparency properties to create a decentralized and impenetrable system. By doing this, we intend to address the challenges of upgrading the vehicle registration system in light of shifting car ownership and an increase in the number of vehicles on the road while also enhancing stakeholder communication, security, and record-keeping. Their complexity is further compounded by the fact that car ownership is dynamic and the number of vehicles on the road is always growing. Accurate risk evaluations for insurers, efficient event reporting for law enforcement, and regulatory compliance have evolved into essential requirements. As a result, the main technical goal is to create a blockchain-based system that would enable the creation of a decentralized, impenetrable automobile registration system.