Blockchain. A Key Technology on the Way to Private Car Rental?

Abstract or Introduction

This paper explores whether Blockchain could be a key technology on the way to private car rental. After the problem statement and the situation assessment, there is an in- troduction to the blockchain itself and specifically. After that, the recommendations – for im- proving car sharing nowadays with private car rental over the blockchain – will be discussed with a view to the implementation and the solved problem. In the end, we will have a look into the near future and at the next steps that need to be done for the realization of the idea.

In the current climate crisis, the target in the western world is to reduce the amount of fossil energy and raw materials. Every less produced car is, therefore, a step in the right direction to a more sustainable future. According to the Federal Environment Agency of Germany, one car-sharing car could replace four to ten private cars. Today's carsharing vehicles are newer on average and therefore have lower fuel consumption and carbon dioxide emissions than the average private car. In addition, car-sharing users often combine car-sharing journeys with public transport, so that utilization there increases and no additional fuel is consumed. Be- sides that, they also use bicycles more often or go by foot, instead of driving a car. In the future, the streets should be used less, the more car-sharing users there are, and the emission- neutral traffic routes such as cycle paths will have better utilization.

Besides these positive aspects, car sharing today has many issues to deal with. Low customer numbers and problems with profitability come together with availability only in the city center and a not completely satisfying service. For solving these problems private car rental over blockchain could be an alternative.