Using a distributed ledger for total loss management

Abstract

The present embodiments relate to systems and methods for using a blockchain to record information related to processes and services in the vehicle industry. For example, (1) receiving vehicle data from one or more remote computing devices; (2) detecting a change in a condition of the vehicle from analysis of the vehicle data, such as that the vehicle has been in a collision and is now a total loss; (3) identifying a VIN of the vehicle or retrieving the VIN from a memory unit when a change in a condition of the vehicle is detected; (4) generating a transaction (i) including the vehicle's VIN, and (ii) describing the detected change in the condition of the vehicle and/or the status of the total loss vehicle; and/or (5) transmitting the transaction to facilitate creating and/or maintaining a VIN-based distributed ledger for the particular vehicle and/or transferring ownership of the total loss vehicle.

What is claimed: 
     
         1 . A computer-implemented method for creating and maintaining a blockchain of transactions pertaining to a vehicle, wherein blocks of the blockchain use a Vehicle Identification Number (VIN) as an identifier, the method comprising:
 detecting, by the one or more processors, a total loss of the vehicle from vehicle data;   identifying, by the one or more processors, a VIN of the vehicle when the total loss of the vehicle is detected;   generating, by the one or more processors, an update transaction (i) including the vehicle's VIN, (ii) describing the total loss of the vehicle, and (iii) including a determination of an insurer of one or more vehicles involved in the vehicle collision; and   transmitting, by the one or more processors, the update transaction to (i) add the update transaction to a block that uses the VIN as an identifier, and (ii) facilitate maintaining a VIN-based blockchain for the vehicle and transferring ownership of the total loss vehicle.   
     
     
         2 . The computer-implemented method of  claim 1 , wherein the vehicle data is received from a remote computing device associated with a connected vehicle or vehicle owner. 
     
     
         3 . The computer-implemented method of  claim 1 , the method comprising:
 forming a consensus among a plurality of computing nodes to update the distributed ledger with the update transaction locally by a computing node of the plurality of computing nodes prior to transmitting the update transaction to other computing nodes of the plurality of computing nodes.   
     
     
         4 . The computer-implemented method of  claim 1 , further comprising, by the one or more processors, determining that the vehicle is the total loss by determining that a cost of damage done to the vehicle exceeds an amount of money that the vehicle is worth. 
     
     
         5 . The computer-implemented method of  claim 1 , wherein the update transaction describes the total loss, a location thereof, that the vehicle was involved in a vehicle collision with another vehicle, a vehicle loan payoff amount and an identification of the lienholder, an indication of salvage proceeds, an indication of loan payoff, an indication of title transfer from a lienholder to an insurer, an indication of title transfer from an insurer to a salvage vendor, an indication of title transfer from a salvage vendor to a new vehicle owner, and combinations thereof. 
     
     
         6 . The computer-implemented method of  claim 1 , wherein the update transaction describes the total loss, a location thereof, and a vehicle loan payoff amount and an identification of the lienholder or bank. 
     
     
         7 . The computer-implemented method of  claim 1 , wherein one or more transactions are generated and added to the distributed ledger describe or details the transfer of vehicle title from lienholder to insurer, to salvage vendor, and/or to a new owner. 
     
     
         8 . A computer-implemented method for maintaining a VIN-based blockchain of total loss-related events pertaining to a vehicle and total loss thereof, wherein blocks of the blockchain use a Vehicle Identification Number (VIN) as an identifier, the method comprising:
 detecting, by the one or more processors, a total loss-related event for the vehicle from processor analysis of vehicle data;   identifying, by the one or more processors, the VIN of the vehicle when the total loss-related event for the vehicle is detected;   generating, by the one or more processors, an update transaction (i) including the vehicle's VIN, (ii) describing the total loss-related event for the vehicle, and (iii) including a determination of an insurer of one or more vehicles involved in the vehicle collision;   generating, by the one or more processors, a smart contract associated with the total loss-related event; and   transmitting, from one or more processors, the update transaction to (i) add the update transaction to a block that uses the VIN as an identifier, and (ii) facilitate creating and/or maintaining a VIN-based distributed ledger detailing total loss transactions and/or events for the total loss vehicle.   
     
     
         9 . The computer-implemented method of  claim 8 , wherein the update transaction describes the total loss, an indication of salvage proceeds, an indication of loan payoff, or combinations thereof. 
     
     
         10 . The computer-implemented of  claim 8 , wherein the smart contract is associated with title transfer from lien holder to insurer, insurer to salvage vendor, salvage vendor to new owner, or combinations thereof. 
     
     
         11 . The computer-implemented of  claim 8 , wherein the smart contract is associated with the total loss vehicle, a total loss vehicle parts auction, or combinations thereof. 
     
     
         12 . The computer-implemented of  claim 8 , wherein the smart contract is associated with a vehicle lien amount. 
     
     
         13 . The computer-implemented method of  claim 8 , wherein one or more transactions are generated and added to the distributed ledger describing the transfer of vehicle title from lienholder to insurer, to salvage vendor, to a new owner, or combinations thereof. 
     
     
         14 . A computer system configured for maintaining a blockchain of transactions pertaining to a vehicle, wherein blocks of the blockchain use a Vehicle Identification Number (VIN) as an identifier, the computer system comprising one or more processors, sensors, transceivers, and/or servers configured to:
 detect a total loss of the vehicle from analysis of vehicle data;   identify the VIN of the vehicle when the total loss of the vehicle is detected;   generate an update transaction including (i) the vehicle's VIN, (ii) describing the total loss of the vehicle, and (iii) including a determination of an insurer of one or more vehicles involved in the vehicle collision; and   transmit, to a server, the update transaction to (i) add the update transaction to a block that uses the VIN as an identifier, and (ii) facilitate maintaining a VIN-based blockchain for the vehicle and transferring ownership of the total loss vehicle.   
     
     
         15 . The computer system of  claim 14 , wherein the vehicle data is received from a remote computing device associated with a connected vehicle or vehicle owner. 
     
     
         16 . The computer system of  claim 14 , the computer system further configured to:
 form a consensus among a plurality of computing nodes to update the distributed ledger with the transaction, either locally or remotely, or both.   
     
     
         17 . The computer system of  claim 14 , wherein the update transaction describes the total loss, and a location thereof. 
     
     
         18 . The computer system of  claim 14 , wherein the update transaction describes the total loss, a location thereof, that the vehicle was involved in a vehicle collision with another vehicle, a vehicle loan or lien payoff amount and an identification of the lienholder or bank, an indication of salvage proceeds, an indication of loan payoff, an indication of title transfer from a lienholder to an insurer, an indication of title transfer from an insurer to a salvage vendor, an indication of title transfer from a salvage vendor to a new vehicle owner, or combinations thereof. 
     
     
         19 . The computer system of  claim 14 , wherein the update transaction indicates a location of the vehicle. 
     
     
         20 . The computer system of  claim 14 , one or more transactions are generated and added to the distributed ledger describe the transfer of vehicle title from lienholder to insurer, to salvage vendor, to a new owner, or combinations thereof.