Document Type
Article
Source of Publication
International Journal of Electrical and Computer Engineering (IJECE)
Publication Date
6-1-2021
Abstract
The advancing technology and industrial revolution have taken the automotive industry by storm in recent times. The auto sector’s constantly growing demand has paved the way for the automobile sector to embrace new technologies and disruptive innovations. The multi-trillion dollar, complex auto insurance sector is still stuck in the regulations of the past. Most of the customers still contact the insurance company by phone to buy new policies and process existing insurance claims. The customers still face the risk of fraudulent online brokers, as policies are mostly signed and processed on papers which often require human supervision, with a risk of error. The insurance sector faces a threat of failure due to losing and misconception of policies and information. We present a decentralized IPFS and blockchain-based framework for the auto insurance sector that regulates the activities in terms of insurance claims for automobiles and automates payments. This article also discusses how blockchain technology’s features can be useful for the decentralized autonomous vehicle’s ecosystem.
DOI Link
ISSN
Publisher
Institute of Advanced Engineering and Science
Volume
11
Disciplines
Computer Sciences
Keywords
Blockchain, Decentralized auto-insurance sector, Decentralized autonomous vehicle, Ethereum, Interplanetary file system, Peer-to-peer networks, Smart contracts
Scopus ID
Creative Commons License
This work is licensed under a Creative Commons Attribution-Share Alike 4.0 International License.
Recommended Citation
Nizamuddin, Nishara and Abugabah, Ahed, "Blockchain for automotive: An insight towards the IPFS blockchain-based auto insurance sector" (2021). All Works. 702.
https://zuscholars.zu.ac.ae/works/702
Indexed in Scopus
yes
Open Access
yes
Open Access Type
Hybrid: This publication is openly available in a subscription-based journal/series