A. Panayotov, P. Ruskov. Implementing Cryptocurrency in Car Renting via Blockchain Protocol

Key Words: Cryptocurrency; blockchain; smart contract; protocol; car renting.

Abstract. Car renting is spreading, while cars are increasingly smart and connected allowing autonomous behavior like self-driving, self-parking, etc. The process of renting, however, is usually cumbersome, involves transfer of sensitive data, is not entirely digital, is heavily regulated and involves different parties directly or indirectly. Therefore, the security, validity and traceability of the data involved is of vital importance. In this paper the authors discuss the blockchain opportunity to innovate the car renting business and present a model where the process is digitalized, simplified and data authenticity and security are guaranteed by using blockchain protocols, smart contracts and cryptocurrency.