A Blockchain and IPFS-Based Anticounterfeit Traceable Functionality of Car Insurance Claims System

Area of Science:

• Computer Science
• Information Security
• Blockchain Technology

Background:

• Current car insurance claims face issues like fraud, data tracking difficulties, complex procedures, and high storage costs.
• Blockchain technology offers immutability and traceability, crucial for secure and verifiable data management.
• The Elliptic Curve Digital Signature Algorithm (ECDSA) provides robust data integrity and security through signing and encryption.

Purpose of the Study:

• To develop an anti-counterfeiting and traceable car insurance claims system.
• To address inefficiencies and security vulnerabilities in traditional insurance claim processes.
• To propose a novel system leveraging blockchain and IPFS for improved insurance data management.

Main Methods:

• Implementation of a blockchain-based system for car insurance claims.
• Integration of the Interplanetary File System (IPFS) for cost-effective data storage.
• Utilization of Elliptic Curve Digital Signature Algorithm (ECDSA) for data encryption and integrity verification.

Main Results:

• Enhanced security and integrity of car insurance data through ECDSA.
• Reduced data storage costs by employing IPFS.
• A traceable and anti-counterfeiting system for insurance claims.

Conclusions:

• The proposed blockchain and IPFS system effectively mitigates insurance fraud and data manipulation.
• The system offers a secure, efficient, and cost-effective solution for car insurance claims processing.
• An arbitration mechanism is proposed to handle insurance disputes within the system.