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Handling Industrial Consumer Rights By Using Blockchain
The main objective of this research paper is to link huge companies with corporate governance oversight, the Ministry of Industry and the Chamber of Commerce to ensure consumer rights. Many customers have fake warranties which reduce customer loyalty to large companies. Therefore, the blockchain features can be used here as a technical solution. It can connect each device data and product lifetime to preserve consumer rights, by arranging companies with the highest guarantee under the blockchain. Furthermore, a proposed business model is presented that regulates the life cycle of any product, the Ministry of industry and the manufacturer under the control of the blockchain. The paper provided a case study for vehicle industry. After implementing blockchain structures, it was proven that the blockchain is scalable to huge number of devices. This leads to obvious results and transparency among the giant companies in the interest of the client, and eliminating black market and over prices.