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PeakChain Car-Sharing Platform on Cardano Blockchain

PeakChain Car-Sharing Platform on Cardano Blockchain

In recent years, car sharing services have been growing in popularity. Consequently, there is a growing market for such services, meaning the potential for significantly more data. As a result of this, data will need to be managed in a centralized server of the car sharing services.

However, centralized servers are consistently targeted by hackers and data scammers. So, there is a data issue present: customer data may be compromised by malicious third parties.

In 2022, people are more aware than at any other point in history about protecting their data and privacy. But, this worry can be alleviated, at least through carsharing solutions built on a real decentralized blockchain solution.

PeakChain is building a carsharing solution on Cardano, comprising of five unique components:

1- Hardware Component: CAN Bus raw data are retrieved directly from the car and transferred to PeakChain’s Server through a dedicated SIM.

2- Data decoding and processing component: A suitable database will be used to decode raw data. The decoded data is later processed to calculate the data transmitted to the blockchain.

3- Vehicle Wallet component: Upon decoding and processing raw data, a transaction is built and submitted to the Cardano blockchain, which includes the vehicle and trip data.

4- Carsharing Smart Contract: The smart contract lives in the blockchain, visible to any customer. In this way, it is a peer-to-peer contract between the vehicle and the customer. Service costs will be automatically calculated once the trip ends. Next, the fees are transferred from the Customer Wallet to the Car Wallet without any third-party interaction.

5- Web App component: Web App functionalities include vehicle and customer registration, trip start and end data, and trip history and costs information. All data are retrieved directly from the blockchain.

Figure 1: PeakChain Car sharing Platform Current Architecture

In the near future, all IoT devices will offer an embedded wallet. In this way, trustless peer to peer communication with the blockchain and with other IoT devices or customers is possible.

Our mid-term plan is to conceptualize and build a vehicle hardware wallet, eventually serving as a critical component for the car sharing platform and other connected car DApps. This will, in turn, deliver optimal decentralization of our solution.

Figure 2: PeakChain Car sharing Platform Future Architecture

Original article published in PeakChain Medium Publication under this link

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Support also our PeakChain Automotive Solutions in Project Catalyst Fund 9!

1- PeakChain Car Wallet Device

2- PeakChain Uber on Cardano

3- PeakChain Fleet Management Platform

4- PeakChain Car-Sharing Platform

Author: Oussama Benmahmoud, CEO of PeakSoft GmbH and Founder of PeakChain