Is there a way to keep a record of a classic vehicle’s entire history that’s 100% secure, uses blockchain technology, and where access to data is solely at the owner’s discretion? Julio Saiz, founder and CEO of The Motor Chain (TMC), has come up with a way to do just that.
Saiz is a computer science engineer who refers to himself as “a driver who gets emotionally attached to his cars.” He initially conceived The Motor Chain when he was looking to purchase his first classic car – nothing specific – until he came across a 1977 Ferrari 308 GTB.
He wanted to know more about the car before committing to a purchase, but there wasn’t a lot of detailed information about it. He also had to meet the owner personally to learn a little bit more about it. However, Saiz found the documentation a bit lacking – especially for such an important vehicle. Henceforth, he resolved to keep the history of the car on record and document the history of the car in great detail.
According to Saiz, ensuring the completeness of the history of each classic or collectible vehicle informs both its ownership and maintenance. With The Motor Chain platform, it becomes easier to keep a record of the whole history of the car and upload documents and pictures as proof.
A key advantage offered by The Motor Chain, says Saiz, is that any other person can participate in the documentation. This means that all servicing, restoration or maintenance work done on the car is recorded easily on the TMC digital documentation binder.
The owner can also share access to information on their car with fellow members solely at their discretion. And since every event is stamped using blockchain technology, no altering of recorded events is possible – not unless the owner communicates to TMC the need to make a change and the reason for it. This makes TMC a totally secure platform for classic or collectible car owners who want to preserve the entire “storyline” of their car.
Membership at The Motor Chain is by invitation only, and all members are subject to profile validation. As Saiz says, they want to build a platform based on trust.
So, everyone who’s into classic or collectible cars is invited to listen to the upcoming Clicks & Bricks podcast on February 4, 2022 featuring Saiz and The Motor Chain.