Chained Transparency and Immutable Data

LeoFinance
8 days ago
(edited)
3 Min Read
656 Words

I was watching a few days ago some youtube videos related to cars, more specifically on the topic of buying second hand cars in my country, what are the risks getting tricked into buying a shiny new wreck and how to avoid them. Living in Eastern Europe I know for sure that many of the second hand cars that are being sold in Romania are not that transparent when it comes to mileage, damage history, previous owners etc.

All of that started when my country begun to import lots of used cars from Germany, Belgium, France, Holland and pretty much every European country that was willing to get rid of their old ones. Having a quite poor economy, not many afford to buy new cars in here, and for some $3,000 -$4,000 you can find decent autos, imported from the above mentioned countries and not only. Doesn't mean that all of them offer the value for the buck paid on them though.

Some are actually crashed cars that have been repaired and resold, even the more expensive ones, many have their millage altered and most of them are just too old to have that millage that we're looking for and to be that shinny for their age. Sellers(in my country of course) of such cars know exactly what Romanians are looking for and learned the tricks to turn even some previously serious crashed vehicles into bargains that really don't offer any clue at all about their previous severe problems.

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In the help of such folks comes carVertical which in exchange of less than $20 offers the client the opportunity to check, based on the vehicle's VIN, almost the whole history of the car revealing important details that might help deciding whether that bargain is worth taking or not. All of that by using blockchain technology, which seems so high tech for some folks that I talk to and seem to have never heard of, although they do know about carvertical and probably used this service that relies on blockchain tech.

How does it work in details?

carVertical is the world’s first car history registry based on blockchain. The platform provides full-scale vehicle history reports, including title records, genuine mileage, accidents and damages, information whether the car has been stolen, even market price, and much more. Along with The National Motor Vehicle Title Information System (NMVTIS) data, this VIN decoder also gathers information from various global sources and even receives some of the data in real-time directly from cars. carVertical verifies all the data; the blockchain confirms its reliability. In other words, carVertical reports cannot be faked or changed in any other way. Introduced in the summer of 2018, carVertical is perhaps the most progressive VIN decoder combing advanced technologies and user-friendliness.
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For us, that are using blockchain tech for some years now it makes sense and it's obvious why this technology has been invented from the first place, but for the average Joe is a miracle. How can you have a data base that no one can conduct any changes into it once the block/page has been closed? Well, that's how blockchain technology works, irreversible, and it's great seeing that it's being used more and more for every day needs of average people all around the world. It offers transparency in the midst of mountains of manipulated data and information, it helps build trust and reveal the true value of certain merchandise.

Not planning on buying a second hand car any soon, but once I'll have my eyes on something I'll definitely use the service to check it out. Curious though, have you also discovered such services running on blockchain that average people all over the world are using, but not being actually aware that's it's blockchain technology that they have their hands on?

Thanks for attention,
Adrian

Posted Using LeoFinance Beta