LIUM Current Issue 2020–03–06

Do you trust Used-car traders?: Untrustworthy Information — Used Car Trading.

In the recent society, people have been found to buy cars online rather than offline. One often searches information about the car they wish to purchase on their online platform or use their mobile phones to do so. The modern technology has made it easier to obtain any information we wish to get about the type of car to wish to acquire.

However, the one problem is that as much as these information are easy to obtain, it is also easy to place on these platforms. Thus, meaning that these types of information can easily be placed by anyone at any time. Then can these information be said to be trustful? The convenience of car brokerage sites lies in the reason behind that they provide us with various information such as car type, model, accidents occurred, prices, pictures etc. Thus, leading to making consumers to believe that the information provided by these sites to be trustful.

Products like cars, are a luxurious product and requires consideration before purchase. Therefore, consumers must demand trustful information in advance. Unfortunately, six out of ten people are reported to be affected by mistrustful information before purchasing their cars. The graphic below shows the damage caused by used car trades.

Some brokerage sites work to increase the reliability of their information by verifying the properties and authenticating their purchases after the customers have made their extra payments. LIUM has found its on solution to these problems. With LIUM’s services and its blockchain technology, it will make the current system sturdier than it was before confirming safety to its consumers making certain that no lies in card trade platform.