Trust and integrity in the used car market
Our Vision
Our vision is to revolutionize the used car market by effectively tackling the pressing issue of mileage fraud and counterfeit car parts. By harnessing the power of cutting-edge technologies such as blockchain and IoT, we aim to create a tamper-proof and secure system for validating used car information.
Project Description
lemonT is a car record platform that improves confidence and focusses on data privacy. In short, lemonT combines a blockchain storage with IoT. Mileage and service history are stored in the blockchain. Our IoT solution helps with hardware verification and it records warning lights and other issues. Car owners see the car’s condition in our lemonT app. It can be shared with potential buyers to prove the condition of the car. lemonT provides a platform for transparent, verifiable car history records. lemonT will be useful for insurance and car rental companies, and we will have data that provides many market insights.
Problems in the Used Car Market
Mileage Fraud
Mileage fraud is the practice of altering a vehicle's odometer reading to falsely reflect lower mileage than it actually has, in order to increase the perceived value and appeal of the vehicle to potential buyers.
Counterfeit Car Parts
The use of counterfeit car parts is a growing problem in the automotive industry, as these parts are often made to look like the real thing but do not meet the same standards of quality and durability, putting the safety of the vehicle and its occupants at risk.
LemonT Solution
Avoid 'lemons' in the used car market
LemonT dongle
An IoT device records system messages, and verifies the mileage via GPS, making mileage fraud more difficult. It connects to the cars standard onboard diagnostics connector (OBD-II), an industry standard present on all cars.
Digital Car Record Storage
Service history and car parts history are stored in the blockchain. It allows easy access to all stakeholders, such as car owners, car dealers, and mechanics and ensures that the information is accurate, reliable and tamper-proof, making it easy for potential buyers to make an informed purchase decision.