Home / Blockchain / DMX Announces VINblock™ –– Blockchain for Everyday Car Business

DMX Announces VINblock™ –– Blockchain for Everyday Car Business

GUAYNABO, Puerto Rico–(BUSINESS WIRE)–Dealer Market Exchange is introducing a new take on how dealers, car
makers, vendors and consumers may all soon be doing business together ––
on blockchain. The powerful technology behind cryptocurrencies is
already flexing its muscle with new services from Microsoft, IBM and
Amazon, and DMX has now stepped into the ring with some muscle of their
own.

VINblock is the first in line of their business blockchain solutions
menu for the automotive community. Reportedly designed to track the
lifetime activity of any vehicle by its unique Vehicle Identification
Number (VIN), a new industry ecosystem would be created by their
participating users.

“Our VINblock permanent, shared ledger, based on Hyperledger Fabric
blockchain technology, provides a critical value-add for building a
foundation of connected mobility for OEMs, dealers and consumers to
conduct business well into the 21st century,” said Jason Bennick, CEO
and Co-Founder of DMX. “As we innovate next-generation solutions across
automotive, we’re striving to create new channels that can operate
faster and more efficiently than most everything out there, and in a
new, low-cost and fully trusted, secure environment.”

Based on Hyperledger Fabric permissioned blockchain and related
technologies, VINblock’s permanent shared ledger of VINs aims to provide
accurate, timely tracking of vehicle identity, ownership changes and
status in DMX markets. This approach offers significant advantages on
trust, security, provenance, accuracy, cost and speed over traditional,
disparate database systems, applications and integration methods.

“Blockchain is just one of our key technologies along with automation,
AI, analytics, IoT and intelligent API’s that we’re integrating in our
mobile, cloud platform and solutions that deliver strategic advantages
for all our customers,” stated Wes Reid, DMX Co-Founder and Head of
Technology.

VINblock will combine on-chain data, private data, off-chain data and
services to efficiently deliver the information needed by applications
hosted by DMX and their other partners.

Users will access VINblock through their mobile devices on the DMX
platform. At enterprise level, OEMs are provided additional, secure,
integration options including DMX’s REST API and the VINblock shared
ledger network.

“Our partnership with the Hyperledger project helped us drive faster on
our blockchain work. We are leveraging key Fabric platform features in
VINblock: the new smart contract program model, private data, operations
management features, and more,” said Jim Mason, Director of DMX Foundry,
their blockchain and AI innovation lab.

DMX is looking at a list of more permanent, shared ledgers that
reference VINblock to integrate across their full application suite and
proprietary market.

VINblock arrives in 2019, with a first working model being presented at
the Hyperledger Global Forum being held on December 12, in Basel,
Switzerland. DMX believes that the VINblock protocol and their business
blockchain technologies will continue to rapidly evolve based on the
needs of the automotive market going forward.

DMX

Dealer Market Exchange is an enterprise business mobility solutions
platform for the automotive industry. From the ground up, DMX is planned
with scalability, performance, mobility, and flexibility in leveraging
advanced engineering best practices to create a suite of services to
fill the need of a technologically shifting automotive community. DMX
provides an intuitive, seamless mobile-web ecosystem of application
services to quickly, accurately and economically manage the movement of
vehicle assets. DMX is one of the fastest-growing, well-funded startups
today with a unique technology patented and over a dozen federally
registered trademarks – and growing. Organized and domiciled in the
Commonwealth of Puerto Rico, DMX exports services through the cloud to
North America and is expanding worldwide. DMX Consumer Solutions becomes
available in 2019. DMX is a member of MOBI, General Member of
Hyperledger, and Silver Member of The Linux Foundation, with DMX Foundry
as their blockchain and AI innovation lab. For more information, visit
dmx.io or connect on Facebook (@dmx.io) and Twitter (@dmxio).

Hyperledger

Hyperledger is an open source collaborative effort created to advance
cross-industry blockchain technologies. It is a global collaboration,
hosted by The Linux Foundation, including leaders in finance, banking,
Internet of Things, supply chains, manufacturing and Technology. Think
of it as an operating system for marketplaces, data-sharing networks,
micro-currencies, and decentralized digital communities. It has the
potential to vastly reduce the cost and complexity of getting things
done in the real world.


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