The Passport for Connected Car (PCC) initiative is led by The Blockchain Xdev and IRT SystemX. It’s supported by a consortium of companies in the automobile industry and insurance – including PSA, Mobivia, COVEA (MAAF, MMA, GMF), Matmut, Crédit Agricole Pacifica, Inter Mutuel Assistance.
According to the FIA (Fédération Internationale de l’Automobile), more than 15% of vehicles circulating in Europe were subject to mileage frauds in 2018. This impacts the entire automobile industry negatively. On the second-hand market, car re-sellers suffer from price devaluation and car buyers incur higher risk due to this breach of trust. Insurance companies are struggling to evaluate the risks of breakdowns, and repair agents don’t have the correct information to work efficiently.
The lack of reliability and traceability on the vehicle life cycle data also hinders all service providers in the development of new services such as predictive maintenance or personalized insurance.