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GUAYNABO, Puerto Rico – (BUSINESS WIRE) – 11 December 2018 – The Dealer Market Exchange is introducing a new approach on how dealers, car manufacturers, sellers and consumers can soon do business together – on blockchain. The powerful technology behind cryptocurrencies is already flexing its muscles with new services from Microsoft, IBM and Amazon, and DMX has now entered the ring with its own muscles.
VINblock is the first in line of their corporate blockchain solutions menu for the automotive community. Designed in such a way as to track the activity of a vehicle for life thanks to its unique vehicle identification number (VIN), a new industrial ecosystem will be created by its participating users.
"Our permanent and shared VINblock ledger, based on the blocklink technology Hyperledger Fabric, provides fundamental added value to build a connected mobility base for OEMs, dealers and consumers to conduct business in the 21st century," said Jason Bennick, CEO and Co-founder of DMX. "As we innovate next-generation solutions across the automotive industry, we are striving to create new channels that can operate faster and more efficiently than most, and in a new, safe, low-cost, and completely reliable environment. ".
Based on the blockchain authorized by Hyperledger Fabric and related technologies, VINblock's permanent shared VIN ledger aims to provide accurate and timely tracking of vehicle identity, ownership changes and status in DMX markets. This approach offers significant advantages in terms of reliability, security, provenance, accuracy, cost and speed compared to traditional and disparate database systems, applications and integration methods.
"Blockchain is just one of our key technologies along with the automation, AI, analytics, IoT and intelligent APIs that we are integrating into our mobile and cloud platform and solutions that provide strategic benefits for all our customers," said Wes Reid , DMX Co -Founder and head of technology.
VINblock will combine on-chain data, private data, data and off-chain services to efficiently provide the information needed for applications hosted by DMX and other partners.
Users will access VINblock through their mobile devices on the DMX platform. At the corporate level, OEMs are provided with additional and secure integration options, including the DMX REST API and the VINblock Shared Accounting Network.
"Our partnership with the Hyperledger project has helped us drive our blockchain faster.We are leveraging the core capabilities of the Fabric platform in VINblock: the new smart contract model, private data, operations management capabilities and more "said Jim Mason, Director of DMX Foundry, their blockchain and AI innovation lab.
DMX is examining a list of more permanent and shared master books that refer to VINblock to integrate into their full suite of applications and proprietary market.
VINblock arrives in 2019, with a first working model presented at the Hyperledger Global Forum to be held on 12 December in Basel, Switzerland. DMX believes that the VINblock protocol and its business blockchain technologies will continue to evolve rapidly based on the needs of the automotive market in the future.
DMX
Dealer Market Exchange is a platform for business mobility solutions for the automotive industry. From the ground up, DMX is designed with scalability, performance, mobility and flexibility to leverage advanced engineering best practices to create a suite of services to meet the needs of a technologically mobile automotive community. DMX provides a mobile and intuitive ecosystem of application services that can quickly and accurately and economically manage the movement of vehicle resources. DMX is one of the fastest growing and well-funded startups today with exclusive patented technology and a dozen of growing and registered federal brands. 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 a blockchain and AI innovation lab. For more information, visit dmx.io or connect to Facebook (@ dmx.io) and Twitter (@dmxio).
Hyperledger
Hyperledger is an open source collaborative effort created to advance blockchain cross-industry technologies. It is a global collaboration, hosted by The Linux Foundation, which includes leaders in the financial, banking, Internet of Things, supply chains, manufacturing and technology sectors. Consider it as an operating system for markets, data sharing networks, micro-currencies and decentralized digital communities. It has the potential to greatly reduce the costs and complexity of things done in the real world.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20181211005898/en/
Justin [email protected]
KEYWORD: CARIBBEAN PUERTO RICO
INDUSTRY KEYWORD: TRANSPORT TRUCKING LOGISTICS / SUPPLY CHAIN MANAGEMENT AUTOMOTIVE AFTERMARKET PROFESSIONAL SERVICES MANAGEMENT FLOTATION INSURANCE FINANCE OTHER AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: dealer's market exchange
Copyright Business Wire 2018.
PUB: 12/11/2018 03:13 PM / DISC: 12/11/2018 03:13 PM
http://www.businesswire.com/news/home/20181211005898/en
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