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Using a distributed ledger for tracking VIN recordkeeping

  • US 10,817,953 B1
  • Filed: 03/02/2018
  • Issued: 10/27/2020
  • Est. Priority Date: 03/03/2017
  • Status: Active Grant
First Claim
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1. A computer-implemented method for creating a distributed ledger of transactions pertaining to a vehicle, the method comprising:

  • receiving, by one or more processors, vehicle data from one or more computing devices;

    detecting, by the one or more processors, a vehicle-related event from analysis of the vehicle data, the vehicle-related event being that the vehicle is a new vehicle and the vehicle is being purchased;

    identifying, by the one or more processors, a Vehicle Identification Number (VIN) of the vehicle when the vehicle-related event is detected;

    identifying, by the one or more processors, a vehicle build when the vehicle-related event is detected;

    receiving, by the one or more processors, an indication of vehicle financing covering the vehicle and an identification of a lender;

    receiving, by the one or more processors, an indication of an insurance policy covering the vehicle and an identification of an insurer;

    receiving, by the one or more processors, vehicle registration information for the vehicle from a department of motor vehicles;

    creating, by the one or more processors, an initial distributed ledger for the vehicle that includes;

    the VIN,a description of the vehicle build;

    a description regarding a vehicle lien or loan;

    a description regarding the insurance policy covering the vehicle, and an identification of the insurer;

    a name and address of a new owner; and

    an indication that the vehicle is registered; and

    transmitting, from one or more processors to a server, the initial distributed ledger created associated with the vehicle to facilitate maintaining a VIN-based distributed ledger for the vehicle.

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