VroomVault: a blockchain-powered marketplace for cars and workshop services
This report delves into the development and exploration of VroomVault, a blockchain-based Car Marketplace designed to bridge the gap between the tangible, real-world automotive market, and the burgeoning realm of blockchain technology. Utilizing Ethereum smart contracts, the project aimed to foster...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2024
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| Online Access: | https://hdl.handle.net/10356/174648 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | This report delves into the development and exploration of VroomVault, a blockchain-based Car Marketplace designed to bridge the gap between the tangible, real-world automotive market, and the burgeoning realm of blockchain technology. Utilizing Ethereum smart contracts, the project aimed to foster transparency, security, and efficiency in car transactions, treating vehicles as non-fungible tokens (NFTs) to facilitate ownership transfer, history tracking, and trading on a decentralized platform.
VroomVault’s mission was the integration of decentralized applications with traditional, centralized database systems to harmonize the reliability and accessibility of conventional marketplaces with the innovation and transparency of blockchain. Through the implementation of Solidity for smart contract development and web3 libraries for frontend integration, the project tackled pivotal challenges and capitalized on the strengths of both decentralized and centralized frameworks.
Insights gained from VroomVault highlight the importance of a seamless user experience demonstrating how technical prowess must be matched with user-centric design to truly bridge the digital divide. Proposed improvements focus on embracing Layer 2 solutions, enabling smart contract upgradability, and expanding the adoption of this technology in different industries.
This project serves as a testament to the potential of blockchain technology to revolutionize traditional industries by merging the digital with the physical, offering a blueprint for future innovations that seek to bring the real world closer to the blockchain world. As blockchain technology evolves, VroomVault stands as a pioneering effort in driving forward the integration of decentralized technology into everyday life, showcasing the limitless possibilities of this convergence. |
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