Carpayment The World’s First decentralized vehicle multi−platform on blockchain

The purpose of the project Carpayment: Creation of a blockchain-based platform and ecosystem, which are based on digital information about vehicles.

Based on the Ethereum blockchain
Ethereum is a flexible, reliable and scalable infrastructure that fully implements all the possibilities of the blockchain technology and smart contracts. The smart contract code is stored and executed in a distributed way, which means the guaranteed implementation of such contracts.

Transparency while maintaining privacy
The process of entering and accessing data on Carpayment is transparent, while the use of blockchain, cryptography, digital signature system and distinct separation of access rights ensures privacy. Your data is only accessible to relevant state authorities and members to whom you have granted access.

Reliability and validity of the information
All information is stored in encrypted form in distributed storage, while its authenticity is confirmed by cryptographic methods based on data stored in the blockchain, thus guaranteeing the safety, invariability and reliability of the information.

Use of smart contracts
Transactions in the system, whether buying a car or purchasing insurance, are fully transparent and reliable for both sides. Smart contracts guarantee the fulfilment of the parties' obligations, eliminate human error and accelerate the transaction by getting rid of bureaucratic red tape.

Decentralization
Carpayment is a decentralized system in all aspects. All layers (data storage, blockchain) do not have a common control centre. All code and data is stored and executed on equal participants of the system (nodes), thus platform development occurs with the consent of all participants of the system.

Integration through API
Operation of Carpayment involved many members (car owners and buyers, insurance and leasing companies, car dealers and service stations, state authorities, smart device sub-system). A flexible API allows all participants to integrate their systems to work with the Carpayment platform.