IS THIS YELLOW LAMBO A LEMON CAR?

(A rendering by myself)

Last friday I attended “The Future of Trust”, a panel discussion about BlockChain that was part of the Rome Startup Week 2018.

The panel was moderated by an dual American-Italian, Mr. Marcel Kaminstein an entrepreneur and the founder of MediaLabCBG a startup incubator backed by Temple University in Philadelphia and Rome. The four speakers on the panel covered several issues, basic BlockChain technology, smart contract technology with Ethereum and finally government and legal perspectives using blockchain.

The interest increased during and after Jacopo Pedretti’s speech, Ethereum Italia’s co-founder with his brother Leonardo in 2014.

In this days speaking about blockchain it’s like speaking about the power of Internet before Mosaic (and now we are in the App era!).
Pedretti explained what is blockchain, what is Ethereum and what is a smart contract.
Regarding smart contracts he tried to stress how to make use of them and how they can help our shape of future as consumers and citizens alike.
The public agreed and asked questions about the possibility to exclude lawyers or notaries from contracts even a smart one.

As the conference finished I moved to a next appointment. While I walked in a sunshine Rome I never stopped to think about conference’s title: “The Future of Trust”.
Meanwhile a magnificent yellow Lamborghini (an AVENTADOR S Roadster) passes roaring near me. Even if at a low speed his motor’s sound is unique.

Now I know. I want to buy myself a Lambo!

So I tried to buy a Lambo. and I found it.

A yellow Lambo at 98,000 euros. Ok, it’s not an Aventador S Roadste but is a Gallardo 5.0 Coupè. It’s not a new Lambo but a 2006 one. But, damn, it’s YELLOW Lambo!

Hey, wait a minute! Looking at information, here or from another site, they are the same. In the end they are poor, too basic. What are they telling us about trust?

Imagine that since the manufacturing of the Laborghini the factory adds the Lambo data into CarExchange.io

How does an Exchange work? When you make a deposit in an exchange you make a transaction who involve the blockchain. But until you buy and sell a *coin you don’t involve in any case the blockchain. Only when you make a withdraw it is recorded. In most of cases it’s for the car who had only one owner. Using a transaction — or a smart contract — in a blockchain for basic information as the Factory Information and the First&Only owner is insane expensive.
But what about a car who have changed different owner, used to ride at the top of power, low maintance and a serious accident involving the chassis?

Where all this information are? CarExchange.io!

Each time a mechanic changes the oil, wheels or pieces of motor’s component there is a change in this Lambo’s Smart Contract.
Every month the control unit makes a car’s report about the use of (km + speed + time). This information was added to the Lambo’s Smart Contract, and so on.
Ultimately, when you eventually buy a used car you’ll know if it’s the right price or not. Only after you purchase your next Lambo a transaction will reflect on the Lambo’s Smart Contract on the blockchain.

That’s it. No more lemon car! No more lawyer for speaking with a judge for a fraud.

Ps: while in mine regular car on my way home I can say: the only car is a RED one, others are only vehicles. Forza Ferrari! ;-)

Source: Wired

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My blog: BitcoinExpert

Twitter: @lan_fin