Dubai studies blockchain technology for vehicle lifecycle management
In its early stages, the project will cover all cars in Dubai, and then it will be expanded to all cars in the UAE
The Roads and Transport Authority (RTA) has proposed using blockchain technology for end-to-end vehicle lifecycle management.
The ambitious project is part of the Dubai 10X Initiative, a venture overseen by the Dubai Future Foundation (DFF).
The project seeks to improve customer experience by providing a holistic view of vehicle-lifecycle services using blockchain technology, starting from the manufacturer all the way to the scrap yard.
In its early stages, the project will cover all cars in Dubai, and then it will be expanded to cover all cars in the UAE.
According to Mattar Al Tayer, chairman of the board and executive director of RTA, the project will be the first government platform in the world to offer a reliable source of vehicle history information.
He said: “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.
"The platform benefits many stakeholders, including car manufactures, 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, internet of things networks, multimedia rights management, government proof of identity, and insurance record management,” he said.
Khalfan Belhoul, CEO, DFF, said: “We are at the beginning of a new era for the transport sector. Blockchain and artificial intelligence have become indispensable for the delivery of future government services.
"At the sixth World Government Summit in Dubai, the RTA indicated that it has started working today on what cities around the world will be implementing ten years from now. The blockchain project will become a reality in the next two years.”