Distributed ledger platform for vehicle records
Embodiments described herein provide a vehicle record platform using blockchain technology. Vehicle records are recorded using blocks linked by vehicle identification number. The vehicle record stores historical information about vehicles, including collision information, financing information, transfer of ownership information, and other transaction information.
1. A system for updating electronic vehicle records using blocks stored on storage devices, the system comprising:
a distributed ledger of a plurality of nodes, each node including at least a storage device, and the distributed ledger having a plurality of blocks stored on the storage devices, each block comprising a vehicle identification number, vehicle data, a timestamp indicating when the block was created, and a hash reference for the ledger;
a vehicle marketplace engine with a network interface configured to access storage devices of the plurality of nodes of the distributed ledger to generate a vehicle listing of a vehicle record using a processor that connects with the plurality of nodes of the distributes ledger to determine a set of blocks of the plurality of blocks, the set of blocks having the same vehicle identification number, and read data from the set of blocks of the plurality blocks stored on the storage devices to populate the vehicle listing with the data;
a buyer and seller application configured to:
receive a bid for the vehicle listing from a buyer;
transmit a notification of the bid to a seller;
receive an acceptance of the bid from the seller;
a smart contracts middleware layer configured to generate a smart contract for the vehicle listing and store the smart contract in memory, the smart contract including a buyer electronic signature, a seller electronic signature, and code defining transaction terms; and
an integration middleware layer with a processor configured to:
execute the code defining transaction terms by accessing the smart contract in the memory and transmit instructions for releasing payment; and
store another block on a storage device of a node of the distributed ledger, the other block for verification of the transaction, the other block comprising the same vehicle identification number, buyer identification, seller identification, and the smart contract.
2. The system of claim 1 further comprising a security unit configured to verify the seller by receiving seller credentials prior to transmitting the notification.
3. The system of claim 1 further comprising a security unit configured to verify the buyer by receiving buyer credentials and providing access to the vehicle record.
4. The system of claim 1 , wherein a block of the set of blocks is an initial block for the vehicle record, the initial block comprising a vehicle registration, ownership attributes, and permission attributes for the vehicle record.
5. The system of claim 4 further comprising a security unit configured to verify the seller by receiving seller credentials and compare the seller credentials to the ownership attributes, and to verify the buyer by receiving buyer credentials, and compare the buyer credentials to the permission attributes, and providing access to the vehicle record.
6. The system of claim 1 wherein the integration middleware layer is configured to receive a vehicle registration request, verify the vehicle registration request, and generate an initial block for the vehicle record, the initial block comprising a vehicle registration, ownership attributes, permission attributes for the vehicle record, and the same vehicle identification number.
7. The system of claim 1 further comprising a vehicle history application configured to receive a vehicle service event identifying the same vehicle identification number, generate an additional block for the vehicle record, the additional block comprising repair attributes, and the same vehicle identification number.
8. The system of claim 1 further comprising a vehicle history application configured to receive a vehicle accident event identifying the same vehicle identification number and generate an additional block for the vehicle record, the additional block comprising accident attributes and the same vehicle identification number.
9. The system of claim 1 further comprising a vehicle history application configured to receive a manufacturer recall event identifying the same vehicle identification number and generate an additional block for the vehicle record, the additional block comprising recall attributes and the same vehicle identification number.
10. The system of claim 1 wherein the buyer and seller application is configured to receive a seller registration request, verify the seller registration request, and generate an additional block for the vehicle record, the additional block comprising seller attributes and the same vehicle identification number.
11. The system of claim 1 wherein the buyer and seller application is configured to receive a buyer registration request, verify the buyer registration request, and generate an additional block for the vehicle record, the additional block comprising buyer attributes and the same vehicle identification number.
12. The system of claim 1 wherein the buyer and seller application is configured to receive a credit risk request for the buyer, receive a credit score for the buyer, and generate an additional block for the vehicle record, the additional block comprising buyer attributes, the credit score, and the same vehicle identification number.
13. The system of claim 1 wherein the vehicle marketplace engine is configured to receive a vehicle search request with a set of parameters and identify the vehicle record based on the vehicle search request by comparing the set of parameters to the vehicle data of the vehicle record.