1. AutoXchange: Decentralized Website for Car Reselling.
- Author
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Dange, Varsha, Sonone, Aditya, Suryawanshi, Aditya, Sonawane, Yash, and Suryawanshi, Tanmayee
- Subjects
TRANSACTION costs ,BLOCKCHAINS ,FRAUD ,AUTOMOBILE sales & prices ,AUTOMOBILES - Abstract
When it comes to the car buying and selling market it is constantly developing and increasing at a fast rate. However, the traditional car market system is very centralized, has high transaction costs, less transparency, and lacks proper management of physical records. These parameters play a very important role when it comes to buying or selling. But these flaws in traditional systems can be removed using blockchain technology. Blockchain provides high security, and more transparency, and reduces the cost required for the intermediaries in the process. This paper proposes a decentralized system AutoXchange which helps users to buy or resell their cars without any complications like fraud or mismanagement. The system provides security and transparency between the parties. AutoXchange provides features like vehicle registration, making a vehicle for sale, or in case of a buyer sending a request to the owner as an interest in buying his car, also provides a secure platform to perform transactions of money. As this system is decentralized the intermediary cost are also removed. [ABSTRACT FROM AUTHOR]
- Published
- 2024