DeLorean, the renowned manufacturer behind the DMC-12, is once again moving into the future. This one, however is about blockchain technology and I am very excited about it. My interest in technology mixing with car innovation has always been piqued and this seems to be perfectly exemplified by DeLorean's new move.
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Later this year DeLorean will launch a new marketplace in partnership with MoonPay’s Otherlife agency. The marketplace will enable us buy, sell and trade vehicle reservation slots on the blockchain. Though trading car reservations may feel like a concept ahead of time, it seems so fitting given DeLorean’s association with “Back to the Future” movies.
This isn’t the first instance where DeLorean has attempted to integrate blockchain. There was another project with NFT IQ in 2022 instead of tokenized reservations coupled with NFT avatars for cars.[1] Unfortunately, it didn’t work out as NFT IQ seemed to have disappeared from our sight. However, now that MoonPay and Otherlife are involved, this could be a possibility for Delorean.
I feel like this new platform can significantly change our perception of car reservations. It claims to use blockchain technology, which is said to offer transparency during the reservation process. I find this quite appealing because it always helps me to have a clear and transparent way of managing my bookings amidst all opaque and confusing things.
Also, the blockchain on this platform will enable us to perform vehicle performance analytics. This implies that historical and performance information of every vehicle will be kept in an unalterable ledger. For me, who so much cherishes the idea of making informed choices as a consumer, I would take a special note of that feature. No matter whether you are acquiring new reserve or transferring existing one, having access to accurate performance data is extremely important.
It is important that DeLorean sees how blockchain technology benefits car lovers in the long run. The thought that I could not only book a build slot for a car but also follow its progress and past in an open manner excites me terribly. Imagine merging an iconic car brand from old times with modernity represented by blockchain technology and digital transparency.
But some nitty-gritty details still remain to be worked out. A good example is that the specific blockchain network that would power the system has not been determined yet. The choice of blockchain is important as it will impact transaction speeds, security and others. Nonetheless, I believe that with MoonPay’s experience and DeLorean’s dedication, they will make the right decision.
This gives us until Q4 2024 for us to watch how things go; these are plans for launching this year. After the launch, existing reservation holders will be able to manage their reservations on this new platform while new reservations open shortly after. To me, this stepped approach makes sense because it allows for a smoother transition and ensures everything runs well before opening up to a larger audience.
I am really eager to see where DeLorean’s blockchain marketplace goes next. It is exciting seeing such a legendary brand adopting cutting edge technology in a manner that has the potential of truly improving customer experience. By providing an open, safe and efficient way of managing car bookings, DeLorean is not only paying tribute to its futuristic origins but also clearing the path for a more modern future in automobile industry.