Eniblock, a leading blockchain technology company, has announced a major milestone in its Passport for Connected Car (PCC) solution project, a collaborative effort between IRT SystemX, Tezos Foundation, Eniblock, and a consortium of leading automotive actors. After two years of hard work, the PCC solution is now ready to transform the automotive sector by empowering vehicle owners and unlocking new service opportunities.
What is Passport for Connected Car project?
As reported earlier by AlexaBlockchain, the Blockchain XDEV, a subsidiary of The Blockchain Group and the SystemX Technological Research Institute are developing a certified data platform ‘PPC’ or the ‘Passport for Connected Car’. This solution is intended for the entire automotive industry and is based on blockchain technology.
The PCC solution is a revolutionary platform that uses blockchain technology to provide a secure and transparent platform for managing vehicle data. The platform puts vehicle owners in control of their data while ensuring compliance with GDPR regulations, ensuring the privacy and sovereignty of vehicle owners.
With the establishment of a decentralized Autonomous Organization (DAO), the PCC solution fosters trust and transparency in the ecosystem, ensuring all stakeholders, including manufacturers, insurers, and service providers, comply with agreed-upon rules and regulations.
The PCC solution has the potential to transform the way vehicles operate and are tracked, as well as how the global car insurance market operates.
According to reports, the global car insurance market is estimated to be worth $1.06 trillion by 2027. By using blockchain tokens, the PCC solution enables efficient and equitable distribution of value, creating new opportunities for predictive maintenance and pay-as-you-drive insurance.
The more detailed project white paper is available here.
PCC offers quantifiable advantages
The IRT SystemX and The Blockchain XDEV have identified many use cases for the PCC solution.
- Vehicle owners can obtain an estimate of the value of their vehicle using the data traced and stored in the PCC platform, allowing them to obtain a better second-hand resale price.
- Potential buyers of used vehicles can check the data of the PCC platform to carry out the same type of evaluation and reduce the risks when buying a vehicle.
- Insurance companies can better anticipate the change of vehicle of their customer and offer personalized insurance.
- Repairers can offer predictive maintenance services based on the analysis of the maintenance and repair history of the vehicle.
- Manufacturers can track the life of the vehicle beyond the warranty period.
- Finally, public authorities can access all the data relating to the administrative and technical monitoring of the vehicle.
The PCC solution is set to have a significant impact on the automotive sector in the coming years, empowering vehicle owners and unlocking new service opportunities.
Eniblock and its partners are incredibly proud of their team and the hard work they have put into the project. With the establishment of a decentralized Autonomous Organization (DAO) governing data access and usage, the PCC solution is set to transform the industry by providing a trusted and secure data exchange platform.
The PCC solution has the potential to create new opportunities for predictive maintenance and pay-as-you-drive insurance, creating a more efficient and equitable distribution of value in the automotive sector.
Eniblock and its partners are optimistic about the future of the PCC solution and are excited to see the impact it will have on the industry in the years to come. With the potential to transform the way vehicles operate and are tracked, the PCC solution is set to become a significant contributor to the digital ecosystem, providing a trusted and secure data exchange platform for the automotive sector.