Blockchain Applied to Vehicular Odometers

Abstract

Fraud in automobile odometers is a billion dollar problem worldwide. The technical requirements behind any solution for this problem go through the perennial, secure, and immutable registration of vehicular data. Such requirements immediately raise the question of how blockchain technology could be used for this purpose. In this article, the requirements, design choices, and construction details of a blockchain architecture for vehicular odometers are presented and discussed. The architecture advances the state of the art by adopting a more efficient consensus algorithm than the traditional ones, such as proof of work. Results from a prototype proof of concept of the proposed architecture validate the solution, which is able to validate a new block in the blockchain every two seconds. Applicability in real scenarios is one step ahead and very promising.