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

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.