Altcoins Talks - Cryptocurrency Forum
Further Discussions => General Discussion => Topic started by: Shezcute Abbie on February 21, 2024, 06:41:43 PM
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I'm a total newbie when it comes to cars. I recently realized it's really important to check out a car's history before buying it. In the past, if a car seemed like a good deal and looked alright at first glance, I'd just buy it without digging deeper. That's risky because upon further research I got to know the importance of having this vital information before purchasing a car especially if it is used.
I was completely surprised when a car salesman showed me a super detailed report on a car he was trying to sell. The car was connected to the DIMO network, a system that collects info from the car's computers to create a complete history of the vehicle.
While that fancy car was too pricey for me sadly, I was really impressed by the thorough background check and it made me realize the value of blockchain technology to access key details on a used car's past. This made it clear I need to learn more to better evaluate cars before I purchase one.
Who else knew this was possible? Are there other blockchain networks that are capable of collating data and histories of one's car once connected?
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I followed a blockchain project that initially focused on mobility. They allow car users to unlock and lock their cars, track the location, etc. They also integrate ID management into it. That being said, there's no need for a dedicated blockchain for this afaik, since you just need to timestamp/hash the data and upload it to an existing network with no problem. I won't be surprised if there will be one project that uses the BTC blockchain as its backbone to hash the data. They can also just ditch blockchain and use IPFS, although I'm not sure how reliable it will be if their project is not famous at all. In most cases though, blockchain is just a jargon they use to sell their tokens, while their solution doesn't really need a new/dedicated network/token for that.