EU will use blockchain against odometer tampering

European Parliament published this in a report Odometer tampering: measures to prevent it
23 November 2017   766

The study highlights the technological developments and IT solutions which could help combat the problem with odometer tampering in the European Union. This problem surge with all second-hand car markets of the EU Member States. According to study 10-50% from second-hand cars have odometer tampering. The EU losses several billion euros every year from the rollback of vehicles’ mileage.

The EU suggests that the blockchain technology would allow downloading mileage and GPS data from vehicles, and securing it on a ‘digital logbook.’ The use of cryptography would provide users with a high level of protection, integrity, and control of data and certification’s date.

EU identified three types of control measures: using of the distributed ledger, identifying a standardised common framework of reference which based on ISO, and equipping a vehicle’s electronic control units (ECUs) and components with specific technical solutions.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   59

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.