System and method to leverage EDR, ECU, CAN and OBD data from vehicles by means of blockchain technology

A method for securing data obtained from a vehicle, the method comprising the steps of:

• a) generating a predefined criterion set of instructions to define signals, events, or conditions that will cause data to be monitored, detected and/or transmitted from a vehicle;
• b) generating a unique identifier corresponding to the vehicle;
• c) monitoring of onboard diagnostic systems;
• d) receiving telematics data signals from an onboard diagnostic system of a vehicle, or at least one subsystem, data sensor or component thereof;
• e) retrieving vehicle mileage and other data or information according to the predefined criterion set of instructions;
• f) combining and encrypted the generated unique identifier with the retrieved data and the received telematics data signals;
• g) storing encrypted data and/or a cryptographic hash thereof in a local machine readable storage medium located onboard the vehicle;
• h) automatically transmitting the encrypted data to a cloud network server using a Communication Module according to the predefined criterion set of instructions for the entry in a blockchain distributed ledger;
• i) validating the encrypted data transmissions;
• j) incorporating a valid transmission into the blockchain distributed ledger;
• k) creating, operating or executing a smart contract following the transmission of the telematics data to the blockchain distributed ledger;
• wherein the operation of the smart contract may cause the communication device to:
• decrypt the encrypted telematics data and related information corresponding to the vehicle from the blockchain distributed ledger;
• generate a human-readable or machine-readable derivative of the telematics data and related information, in whole or in part;
• and
• transmit the derivative to a party designed in the smart contract;
• wherein the operation of the smart contract may additionally cause a communication device and/or machine-readable storage medium to cause an automatic override process to modify the state of a component on a vehicle to correspond with information stored on the blockchain distributed ledger.