The Carvio Blockchain is an enterprise permission-based solution designed for the automotive industry. The Carvio Blockchain Consortium was created by the team behind the world's first autonomous peer-to-peer used car marketplace- Carket.
The Carket platform utilises the Carvio Blockchain to record vehicle inspection, condition, service and maintenance records of all cars listed for sale. It acts as an agent to build trust and give confidence to both the consumers and service providers in a trustless environment.
The mission is to empower institutions in the automotive industry with immutable vehicle data required to make informed business decisions; while ensuring consumers are getting a fair and desirable outcome.
The Carvio Blockchain is based on the Hyperledger Fabric open source framework. The enterprise-grade blockchain solution has been developed to remove unnecessary and costly friction when institutions in the automotive industry are validating vehicle data by enabling them to gain direct access to verified data using smart contracts, while ensuring the highest levels of privacy and security.
A collaboration between automotive professionals with over 20 years combined experience and blockchain technology enthusiasts developed it. Institutions of all sizes operating in different capacity can now leverage the power of blockchain to deal with their specific business challenges.
Carvio Blockchain provides institutes of all sizes blockchain capabilities and benefits without complicated setup and provisioning. Below are some of the sectors in the automotive industry that can leverage the vehicle data providence Carvio Blockchain has to offers.
The Carvio Blockchain makes it possible for finance providers to participate in the ecosystem. Access to the Carvio Blockchain will enable lenders to evaluate the condition and quality of vehicles they finance, and they can, therefore, make a better judgement on the risk to their loan book.
There is an opportunity for insurance companies participating in the ecosystem to gain access to the vehicle providence data store on the Carvio Blockchain. Permission to the blockchain will aid their investigative activities when processing claims.
Entities in this sector can be guided by the inspection and condition reports when authorising claims. Tamper-proof service and maintenance records on the blockchain could also be used to support warranty providers’ authorisation processes.
We offer multiple levels of participation within our ecosystem. Contact us via the form below for additional information.
© 2018. Carvio Ltd. Company number 11286668 Registered in England and Wales. Registered office address: Suite 126, 26 Kings Hill Avenue, Kings Hill. West Malling, Kent. ME19 4AE