Using a Distributed Ledger to Track a VIN Lifecycle

A computer-implemented method for tracking a vehicle identifier on a blockchain maintained by a plurality of participant node computers each storing and maintaining a copy of the blockchain, the method comprising:

• receiving, at a processor coupled with a network interface and from a participant node computer of the plurality of participant node computers, a vehicle identifier notification that includes (i) a VIN corresponding to a vehicle, (ii) a notification event, and (iii) a notification source;
• determining, from the notification event, that the vehicle experienced a total loss;
• verifying, at the processor, that the notification source included in the vehicle identifier notification is an insurance carrier that carries an insurance policy associated with the vehicle;
• verifying, at the processor, that an entry corresponding to the VIN included in the vehicle identifier notification exists in the blockchain;
• in response to verifying that the notification source is the insurance carrier and verifying that the entry corresponding to the VIN exists, accessing, at a memory coupled with the processor, a first copy of the entry using the VIN included in the vehicle identifier notification, wherein the first copy of the entry comprises a block that (i) already exists in the blockchain and (ii) is associated with information included in the notification event;
• updating, at the memory, the block stored as part of the first copy of the entry, including updating a title status data element of the block to reflect that a title of the vehicle is transferred to a salvage vendor;
• generating, at the processor, a solution to a cryptographic puzzle involving the block;
• and
• transmitting, via the processor coupled with the network interface, the first copy of the entry with the updated block included therein and the solution to the cryptographic puzzle to at least one other participant node computer, wherein the at least one other participant node computer respectively updates at least one other copy of the entry to reflect the updated block.

A system for tracking a vehicle identifier on a blockchain maintained by a plurality of participant node computers each storing and maintaining a copy of the blockchain, the system comprising:

• a network interface configured to interface with a processor;
• a memory configured to store non-transitory computer executable instructions and configured to interface with the processor;
• and
• the processor configured to interface with the memory, wherein the processor is configured to execute the non-transitory computer executable instructions to cause the processor to:
• receive a vehicle identifier notification from a participant node computer of the plurality of participant node computers, wherein the vehicle identifier notification includes (i) a VIN corresponding to a vehicle, (ii) a notification event, and (iii) a notification source;
• determine, from the notification event, that the vehicle experienced a total loss;
• verify that the notification source included in the vehicle identifier notification is an insurance carrier that carries an insurance policy associated with the vehicle,
• verify that an entry corresponding to the VIN included in the vehicle identifier notification exists in the blockchain,
• in response to verifying that the notification source is the insurance carrier and verifying that the entry corresponding to the VIN exists, access a first copy of the entry using the VIN included in the vehicle identifier notification, wherein the first copy of the entry comprises a block that (i) already exists in the blockchain and (ii) is associated with information included in the notification event;
• update the block as part of the first copy of the entry, including updating a title status data element of the block to reflect that a title of the vehicle is transferred to a salvage vendor;
• generate a solution to a cryptographic puzzle involving the block;
• and
• transmit the first copy of the entry with the updated block included therein and the solution to the cryptographic puzzle to at least one other participant node computer, wherein the at least one other participant node computer respectively updates at least one other copy of the entry to reflect the updated block.