Blockchain Vehicle Lifecycle Management System Planned By Dubai’s Road and Transportation Authoritybr>
The Road and Transportation Authority (RTA) of Dubai has revealed plans to create a vehicle lifecycle management system using blockchain technology as part of the Dubai 10X initiative.
The project aims to enhance the customer experience by providing the complete history of a vehicle – from the manufacturer to the scrap yard. In its initial stages, the platform will cover all cars in Dubai before extending to cover all cars in the UAE to ensure the integration of vehicle information.
Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA, said the project will be the first government platform in the world to offer a reliable source of vehicle history information, making Dubai and the UAE a major hub for the automotive industry in the region.
“Blockchain provides a transparent record to the entire business network, allowing buyers and sellers of each vehicle to track where the vehicle is in its lifecycle,” he said. “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.”
IBM will come on board as strategy formulation consultant, while future partners include government entities such as Dubai Customs, Dubai Police, the Dubai Department of Economic Development, the Emirates Authority For Standardization and Metrology, Emirates ID, and the Ministry of the Interior.
“The Authority will begin implementing the register as of Q1 2018 in the hopes of launching the completed system in 2020,” Al Tayer said.
The vehicle lifecycle management system falls in lines with Dubai’s goal to become the first blockchain government by 2020. Last month, Smart Dubai director general Dr. Aisha Bint Butti Bin Bishr said they were aiming to complete the roll out of over 20 blockchain applications this year.