A Survey and Planning Advice of Blockchain-Based Used Car Bidding Platform

In recent years, due to the increasing gap between rich and poor around the world, more and more people prefer to buy second-hand cars instead of buying new ones. As a result, the production and demand for new cars have decreased and the demand for second-hand cars has increased significantly. However, traditional second-hand car transactions have problems such as information asymmetry, opacity, and lack of trust. Many researchers have previously proposed related research on second-hand car transactions to solve the above problems. Because of the research of these scholars, we propose planning suggestions for a second-hand car bidding platform. We suggest that the Hyperledger Fabric blockchain architecture can be used to ensure the authenticity of vehicle information through a third-party impartial organization. The entire bidding process is transparently recorded on the blockchain, and decentralized IPFS storage can be used to reduce the burden of data on the blockchain. In addition, we recommend joining an arbitration institution to resolve any disputes that may arise after the transaction is completed. We believe that such a system plan will serve as an excellent guide for subsequent research and will certainly help improve the current second-hand car trading environment.