Practical Applications of Cybercar
Creating Signed Vehicle Events
Vehicles on the road today are becoming sensors on wheels. Data are collected from engine sensors, accelerometers, speedometers and, quickly becoming more common, video. To maximize the value of this data, it must be bundled and stored such that data integrity is incontrovertible. CyberCar captures and signs vehicle data at the source and stores the associated notary and signature values in an immutable blockchain. Interested parties are welcome to run their own blockchain nodes and participate in independent verification of vehicle data integrity, thus weaving an even stronger fabric of trust.
Monetizing OEM Vehicle Data
Connected vehicles generate dynamic information about operational, environmental, and driver performance. CyberCar uses blockchain to securely upload, index, and store data such as title, warranty, service, and driving behavior and accident history, odometer tracking, coupon delivery, and mobile application stickiness for the Original Equipment Manufacturer (OEM). This personalized data history of the vehicle has great value and may be anonymized and offered by the OEM to external parties.
Improving Insurance Risk Management by Tracking Driver History
Security and data optimized with blockchain can be applied to manage driver history and certification for insurance risk management. Insurers can manage and operate a permissioned blockchain. The permissioned blockchain’s decentralized immutable ledger ensures that all members have access to identical driver information, improving data quality and reducing reliance on third-party insurance broker services. This can reduce costs for insurers, and verify drivers for custom insurance packages.
Bringing Efficiency to the Trucking Market
Truckers and manufacturers work through shipping brokers to do commerce with each other—to match loads, determine routes, and set up delivery schedules. Working with a broker adds additional cost. CyberCar utilizes smart contracts to eliminate the middle man, do business directly, increase profit margins, track performance for insurance ratings, and create efficiencies that improve environmental impact.
Verifying Trusted Reputation
Individuals are increasingly in situations where they engage in business or financial transactions with untrusted parties. As we rely more on connected commerce, these trust issues between vendor and customer become even more important. CyberCar enables secure data that can verify reputation and enhance services and transactions. Benefits include attested driver performance, insurance rating improvement, capital equipment optimization, and access to car service data.
Securing Supply Chain Management
The shipping of hazardous, valuable, or controlled items is a complex process. Real time provenance, security and tracking are essential to manage and secure these critical supply chains. CyberCar security services include driver and vehicle authentication, secure and authenticated telemetry from the vehicle, geographical trip data, and managing the secure wireless data link. CyberCar also provides permissioned access to vehicle data reducing the possibility of unwanted intrusive connections. Fleets using CyberCar provide their customers authenticated end-to-end records of shipment details for supporting their part of the secure supply chain.