Using a distributed ledger for tracking vin recordkeeping

Abstract

Systems and methods are disclosed for creating, maintaining, and interacting with a distributed ledger for VIN recordkeeping related to a particular vehicle. The systems and methods include the use of smart contracts, and receiving information about the vehicle, such as a description of the vehicle, whether the vehicle is covered by insurance, financial information related to the vehicle, and any maintenance data about the vehicle. This information may be used to create a distributed ledger for the particular vehicle, and during the vehicle's lifetime events related to the vehicle may be recorded in the distributed ledger.

What is claimed: 
     
         1 . A computer-implemented method for adding to a Vehicle Identification Number (VIN)-based distributed ledger of transactions or events pertaining to a vehicle, the method comprising:
 detecting, by one or more processors, a change in a condition of the vehicle relating to a total loss of the vehicle;   identifying, by the one or more processors, a VIN of the vehicle;   generating, by the one or more processors, a transaction: (i) including the VIN of the vehicle, and (ii) describing the total loss of the vehicle; and   adding, by the one or more processors, the transaction to the VIN-based distributed ledger.   
     
     
         2 . The computer-implemented method of  claim 1 , further comprising receiving vehicle data from a server associated with a vehicle manufacturer, repair facility, or bank, and wherein the vehicle data indicates the change in a condition of the vehicle relating to the total loss of the vehicle. 
     
     
         3 . The computer-implemented method of  claim 1 , wherein the transaction describes a location of the total loss. 
     
     
         4 . The computer-implemented method of  claim 1 , wherein the transaction describes that the vehicle was involved in a vehicle collision with another vehicle, a determination of insurers of one or more vehicles involved in the vehicle collision, a vehicle loan payoff amount and an identification of a lienholder, an indication of salvage or auction 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. 
     
     
         5 . The computer-implemented method of  claim 1 , wherein the transaction describes a vehicle loan payoff amount, and an identification of a lienholder. 
     
     
         6 . The computer-implemented method of  claim 1 , wherein one or more transactions are generated and added to the VIN-based distributed ledger describing the transfer of vehicle title from lienholder, to insurer, to salvage vendor, to a new owner, or to combinations thereof. 
     
     
         7 . The computer-implemented method of  claim 1 , wherein the transaction describes terms of a vehicle loan, including interest rate, length of loan, and amount of payoff. 
     
     
         8 . The computer-implemented method of  claim 1 , wherein the transaction provides an indication of whether the vehicle was covered by insurance, and if so, provides an identification and address of the insurer, and terms, conditions, limits, and coverages provided by the insurance policy. 
     
     
         9 . A computer system configured to add to a Vehicle Identification Number (VIN)-based distributed ledger of transactions or events pertaining to a vehicle, the system comprising one or more processors, transceivers, sensors, and/or servers configured to:
 detect a change in a condition of the vehicle relating to a total loss of the vehicle;   identify a VIN of the vehicle;   generate a transaction: (i) including the VIN of the vehicle, and (ii) describing the total loss of the vehicle; and   add the transaction to the VIN-based distributed ledger.   
     
     
         10 . The computer system of  claim 9 , the system further configured to, via the one or more processors, transceivers, sensors, and/or servers:
 receive, from a server associated with a vehicle manufacturer, repair facility, or bank, vehicle data indicating the change in a condition of the vehicle relating to the total loss of the vehicle.   
     
     
         11 . The computer system of  claim 9 , wherein the transaction describes a location of the total loss. 
     
     
         12 . The computer system of  claim 9 , wherein the transaction describes that the vehicle was involved in a vehicle collision with another vehicle, a determination of insurers of one or more vehicles involved in the vehicle collision, a vehicle loan payoff amount and an identification of a lienholder, an indication of salvage or auction 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. 
     
     
         13 . The computer system of  claim 9 , wherein the transaction describes a vehicle loan payoff amount, and an identification of a lienholder. 
     
     
         14 . The computer system of  claim 9 , the system further configured to, via the one or more processors, transceivers, sensors, and/or servers:
 generate one or more transactions; and   add the one or more transactions to the VIN-based distributed ledger describing the transfer of vehicle title from lienholder, to insurer, to salvage vendor, to a new owner, or to combinations thereof.   
     
     
         15 . The computer system of  claim 9 , wherein the transaction describes terms of a vehicle loan, including interest rate, length of loan, and amount of payoff. 
     
     
         16 . The computer system of  claim 9 , wherein the transaction provides an indication of whether the vehicle was covered by insurance, and if so, provides an identification and address of the insurer, and terms, conditions, limits, and coverages provided by the insurance policy. 
     
     
         17 . A computer system for adding to a Vehicle Identification Number (VIN)-based distributed ledger of transactions or events pertaining to a vehicle, comprising:
 one or more processors; and   a program memory coupled to the one or more processors and storing executable instructions that, when executed by the one or more processors, cause the computer system to:   detect a change in a condition of the vehicle relating to a total loss of the vehicle;   identify a VIN of the vehicle;   generate a transaction: (i) including the VIN of the vehicle, and (ii) describing the total loss of the vehicle; and   add the transaction to the VIN-based distributed ledger.   
     
     
         18 . The computer system of  claim 17 , wherein the executable instructions further cause the system to:
 receive, from a server associated with a vehicle manufacturer, repair facility, or bank, vehicle data indicating the change in a condition of the vehicle relating to the total loss of the vehicle.   
     
     
         19 . The computer system of  claim 17 , wherein the transaction describes a location of the total loss. 
     
     
         20 . The computer system of  claim 17 , wherein the executable instructions further cause the computer system to create the VIN-based distributed ledger for the vehicle when a vehicle-related event is detected.