Systems and methods for estimating vehicle value via blockchain

A network node of a plurality of nodes physically connected to respective vehicles and configured to periodically add mileage reports on a shared ledger system for performing irregular estimates of an Actual Cash Value (ACV) of a vehicle being tracked on a blockchain by VIN, wherein the mileage reports include an odometer reading from the odometer of the respective vehicles, the network node comprising:

• a network interface configured to interface with one or more processors;
• a memory configured to store non-transitory computer executable instructions and configured to interface with the one or more processors;
• and
• the one or more processors configured to interface with the memory and configured to:
• determine an actual value estimation is to be performed;
• in response to the determination, issue, to a node of the plurality of nodes coupled to an odometer of a vehicle, a recordation request that causes the node to add an irregular mileage report to the blockchain;
• locate a vehicle profile of the vehicle identified by a Vehicle Identification Number (VIN) on the blockchain, the vehicle profile including a vehicle configuration, a vehicle status of the vehicle, and the requested mileage report;
• and
• estimate, via the one or more processors, the Actual Cash Value (ACV) of the vehicle based upon, at least in part, the vehicle configuration, vehicle status of the vehicle, and the requested mileage report.

A method of utilizing a blockchain that includes a plurality of nodes physically connected to respective vehicles and configured to periodically add inspection reports to the blockchain to validate an actual cash value of a vehicle by a shared ledger, the method comprising:

• determining an actual cash value validation is to be performed;
• after the determination, receiving, at a node of the plurality of nodes that is coupled to an odometer of a vehicle, a recordation request to record an irregular inspection report to a blockchain, the inspection report including an odometer reading;
• inspecting a vehicle, the vehicle being tracked on a blockchain by Vehicle Identification Number (VIN);
• creating the inspection report based upon the inspecting operation and the odometer reading;
• and
• broadcasting a transaction to nodes in a network of the blockchain, the transaction altering a vehicle profile of the vehicle by adding the inspection report to the blockchain, the inspection report including the VIN to facilitate the actual cash value (ACV) determination of the vehicle.