HashCoin states that it has created a vehicle certification system using the Emer Blockchain, something which appeals to manufacturers and countries such as Russia as well as other European nations.
Recently, there has been a significant increase in practical use cases of the Blockchain. Implementation is gradually clearing initial doubts about the functionality, propagation and survival of the Blockchain technology.
The varying characteristics of the Blockchain, of which includes its security, transparency and the inability to fake, delete or alter any information stored on it retroactively, has enhanced the desirability of the technology.
The creation of a car register
HashCoin has created an ‘open distributed vehicle registry’ based on the Emer Blockchain by Emercoin.
“Emercoin Blockchain is a distributed open source platform that can be used by anyone, and HashCoin has adopted the Emer Blockchain to create solutions,” says Ivan Kuznetsov, community manager at Emercoin.
Although the system is yet to fully kick off, Kuznetsov tells Cointelegraph that negotiations are currently ongoing as plans are already in place as to how the system would be run. He says that the system will be especially useful for car manufacturers.
According to Kuznetsov, the creation of a car register is simply an attempt to illustrate how Blockchain registers work. He says that services like these can be of great use for end users. “They make it possible to track an automobile's entire history (changes in ownership, insurance events, maintenance history, etc.) and therefore protect oneself against fraud.”
Unprecedented interest and cooperation
Kuznetsov commends the level of cooperation that the project has received so far, especially in Russia and other European countries. According to him, the Russian authorities are highly interested in this solution even to the extent of working towards immediate implementation. Another group identified by Kuznetsov to be interested in this project are the major global automotive companies.
Kuznetsov concludes by noting that this solution is very useful to both public and private levels such as insurance companies, service providers and manufacturers.
“It would be interesting for insurance companies on car insurance. As such it would be useful to companies such as Uber, or for example, manufacturers of airplanes or tractors. For these manufacturers, it could create the servicing and maintenance log book for each tractor or plane registered on the Blockchain.”