While researching this project recently, a Redditor found new developments in this one-year-old company from German news sources. The article highlights the fact that BMW does not store any unique data from the vehicle. Instead, the authenticity of the data will be verified "fingerprinted" against the Thor public blockchain. According to the application VerifyCarDApp, the car owner can decide with whom he wants to share his data.
see the article,
If VerifyCar is created and successful, it will become one of the first large-scale applications in the German sector based on blockchain. The potential benefits of DApps seem promising.
By storing all data in an immutable and decentralized ledger, each party will be able to access car information that they can completely trust. The project is a response to the shocking odometer case in which a third of all vehicles in Germany participate.
At the first summit held in San Francisco, Cihan Albay, head of BMW's technical office in Singapore, mentioned his corporate IT and introduced the innovative process VerifyCar, a vehicle data passport that enables customers to verify odometers (mileage) and maintain their A historic vehicle that you would like to purchase.
Additionally, they are still figuring out how to integrate blockchain into their existing initiatives related to mobility (DriveNow and ParkNow), supply chain and customer service.
Albay said,
According to VeChain, we have found a solution provider that we think is very valuable for us.
VerifyCarDApp is not released to the public. Its sustainable development is the result of the success of BWMStartupGarage, and VeChain has always been one of its loyal partners.
