By 2020 the Dubai Road and Transport Authority (RTA) plans to launch a vehicle life cycle monitoring system based on blockchain, which will provide the customer with a history of the car purchased by him from “the manufacturer all the way to the scrap yard,” as the local news source Arabian Business reports.
The system will be able to configure a transparent report about where the vehicle was at any time of its existence. The implementation of this solution will begin in Dubai and will cover cars in this city, and after that the program will expand to all vehicles in the United Arab Emirates.
According to the chairman and CEO of RTA, Mattar Al Tayer, this system will be the first government platform in the world that can fully document the life history of a vehicle:
“The platform benefits many stakeholders including car manufacturers, dealers, regulators, insurance companies, buyers, sellers and even garages, providing transparency and trust in vehicle transactions, preventing disputes and lowering the cost of services. It tracks ownership, sale, and accident history to create smart, more efficient systems for supply chains.”
Arabian Business informs that IBM will act as a strategic development consultant, and the list of future partners includes: Dubai Customs, Dubai Police, Dubai Department of Economic Development, Emirates Authority For Standardization and Metrology, Emirates ID and the Ministry of Internal Affairs.
This project is one of many in the Dubai 10X program designed to make Dubai the first blockchian government by 2020.