The collaboration between German automotive giant BMW and enterprise blockchain solution provider VeChain is still intact, with the decentralized app (DApp) VerifyCar being developed to focus on data protection and anti-manipulation of mileage.
Investigating on the project recently, a Redditor has discovered new developments regarding this one-year-old venture from a German news source. The article highlighted the fact that BMW will not store any unique data from vehicles. Instead, through VeChainThor’s public blockchain, a “fingerprint” that verifies the authenticity of data will be created. By using the VerifyCar DApp, a vehicle’s owner can decide whom he wants to share his data with.
The article read,
If VerifyCar comes out and is successful, it would be one of the first blockchain-based mass applications from the German industry. The potential advantages of this DApp appear promising.
By storing all the data on an immutable and decentralized ledger, each party will have access to the information about the vehicle they can fully trust. This project is a response to Germany’s alarming cases of manipulated odometers where one-third of all vehicles have been involved.
Unveiled during VeChain’s first-ever summit in San Francisco, Singapore’s BMW Tech Office Leader Cihan Albay talked about their company’s IT innovation process and introduced the concept of VerifyCar, a vehicle digital passport that will allow customers to verify the odometer (mileage) and maintenance history of a vehicle they want to purchase.
Aside from this, they are also exploring how blockchain can be integrated in their existing services concerning mobility (DriveNow and ParkNow), supply chain, and customers.
With VeChain we found a solution provider we think is very valuable to us.
The VerifyCar DApp is still yet to be released to the public. Its ongoing development is a result from the success of the BWM Startup Garage wherein VeChain has been a dedicated partner.