CarChain
A tool for decentralized renting your own car and calculating the cost based on the resources consumed
The technology includes the simple conclusion of a smart contract between two people using a mobile application and a web interface.
The technology includes the simple conclusion of a smart contract between two people using a mobile application and a web interface.
About project
CarChain is a decentralized system that connects the owner of the car and the tenant, safely concludes a lease agreement and provides financial exchange, depending on the time spent. The system works in the blockchain's open network - Ethereum, and can be transferred to a private blockchain - Hyperledger. It consists of a smart contract that manages the system and applications embedded in the system (for the owner of the web application, for the user mobile) for managing the system, sending information to the Blockchain and making changes to the system. Implemented an electronic signature mechanism that allows you to open the lock of the car when you get access.
Technical solutions
System structure
We have worked out the optimal structure of the system:
1. Smart contract is created by the owner
2. The tenant makes a deposit in the smart contract and starts renting
3. The tenant gets access to the car and opens it with an electronic signature
4. IoT sensors read the usage time information and send to the smart contract
1. Smart contract is created by the owner
2. The tenant makes a deposit in the smart contract and starts renting
3. The tenant gets access to the car and opens it with an electronic signature
4. IoT sensors read the usage time information and send to the smart contract
Smart contract
It is located in the blockchain network, provides a secure interaction of agents: owner, tenant, IoT devices.
Accepts deposit from the tenant at the beginning of work, receives information from the sensors and deducts payment for resources from the deposit, returns the earned money to the owner and balances to the tenant.
Accepts deposit from the tenant at the beginning of work, receives information from the sensors and deducts payment for resources from the deposit, returns the earned money to the owner and balances to the tenant.
Mobile and web application
Convenient Web-application to create a smart contract to rent your own car with its own parameters.
Mobile application to search for a car and its rental by making a deposit. Also opening the lock using electronic signatures via NFC from the car to the smart contract.
Mobile application to search for a car and its rental by making a deposit. Also opening the lock using electronic signatures via NFC from the car to the smart contract.
Technology benefits
Decentralization
Anyone can rent their own car rental, anyone else can rent, without intermediaries and meeting persons.
Security
Thanks to the blockchain technology, reviews and information about the tenant and owner is always open and reliable. The entire transaction history is recorded.
Electronic signature
Thanks to our electronic signature algorithm, it is possible to safely open the car by the desired user. Without the possibility of a fake.
The project team. Winners Jacob's Hack 2018 in Germany (Bremen).
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Product demo
Watch a video demo
Product demo