How Blockchain Will Help You Buy OEM Parts In The Future

The first project that was successfully launched on the base of blockchain is Bitcoin cryptocurrency and recently we have heard much about various cryptocurrencies and other blockchain-based technologies. One of such technologies that are going to be presented in the future will allow automobile owners to purchase 100% OEM parts and avoid counterfeit parts easily. This is a very important problem most of the people face today and the only solution now is to purchase parts from reliable distributors.

Today it is better to repair the break than to replace the detail if possible, so you will need a source of repair manuals like repairsadviser.com as most of the manufacturers have their own standards when it comes to vehicle parts which you need to consider.

The Essence of Problem

Today the main problem you suffer as a purchaser is a fact there is no option for you to check whether the detail is original or fake. No matter what kind of watermarks and barcodes there are – those can be falsified easily and moreover – not all manufacturers grant such data on the details.

Most of the people buy parts not from official distributors, but in specialized stores and often the main factor to make a choice is a price, which can look adequate for the given part.

So all you can do is to rely on the distributor, whether or not he has purchased the part from a manufacturer directly. So if formulating the problem in one sentence you could say that the end user has no possibility to verify the originality of the given item.

Why Blockchain is Helpful?

What do we know about blockchain? It is the system where the data already created cannot be changed – only the new data can be added. And this is performed by encrypting of initial data to the block which cannot be changed or decoded (to decode one it won’t be enough to use resources of the most powerful supercomputer for years) – only the new block or new data could be added and each change or addition should be verified by other participants of the system, so it cannot be faked.

What does that mean in simple words? When included in blockchain information cannot be changed, faked or deleted from the system. That is why cryptocurrency became so popular and so many services will use blockchain technology in future.

How Will Blockchain Use Look Like When it Comes to Automobile Parts?

It is likely that there will be a way to check the part originality online – some data will be provided on the detail and it will be verified once you look for it on the manufacturer’s website or any other specialized resource which will allow telling whether that part is OEM.

However, other options are also possible for blockchain technology use; anyway, it should be connected to assigning a single block or a kind of account in a system for each vehicle part produced. However, it could be very hard and costly because millions of car parts are produced each year, which means that stored data on millions of products will be collected, and the amount of data will increase each year at least twofold.

Conclusion

This is going to make this way of blockchain application very expensive. However, since technologies are constantly evolving and due to progressing improvements, the costs of even the most innovative technologies gradually decrease. Therefore, in several years it is highly possible that the data on all details and equipment will be stored, and, therefore, available for access and check for a reasonable price. Check some new information here on Bitmoneynews.com.