Implementation of a Proof of Concept for a Blockchain-based Smart Contract for the Automotive Industry in Mauritius

Abstract

In recent years, there has been a growth of interest in the blockchain technology across a wide range of industries. Blockchain technology has the potential to transform the way businesses operate especially in the automotive industry. The distributed infrastructure and the secure nature of the blockchain technology encourages trust among businesses and consumers. In Mauritius, the automotive industry is facing challenges such as tampering of vehicle information, falsification of mileage and poor traceability which leads to a lack of trust from customers. In this work, an implementation of a proof of concept (POC) for a blockchain-based smart contract application has been proposed and implemented to mitigate these challenges. The automotives use cases: (a) vehicle importation; and (b) vehicle sale and registration have been implemented in the IBM blockchain platform which provides a secure and transparent way to invoke transactions. Finally, the performance and benefits of the Hyperledger Fabric vehicle application have been assessed based on transparency, security, traceability and efficiency.