Smart Vehicle Rental Application using Blockchain and IoT

Abstract

Nowadays, demand for rental vehicle sharing is increasing. People are preferring to rent vehicles instead of putting a lot of money in a new vehicle. This renting system is beneficial for not only the consumer but also to the owner of the vehicle. Many issues such as theft, use of vehicle, bad condition of vehicles are not considered in the conventional rental systems. With the help of blockchain and Cyber Physical Systems (CPS), these issues are resolved in this system. Blockchain has many advantages due to its peer to peer sharing network. Smart contracts in Blockchain technology are contracts that run on their own in which context for the buyer-seller consensus are inscribed directly into the code. This system proposes a smart vehicle rental system which works with Blockchain, CPS and Internet of Things (IoT). The system utilizes IoT sensors to collect automatic data about car usage in real-time. For transactions of both customer and owner, these data make car availability and usage more authentic and credible. The implementation of this system uses Ethereum, Solidity, Web3.JS, Distributed Applications (dApp), Truffle. The proposed rental vehicle system with blockchain provides better reliability, traceability and security to both the owner as well as consumer.