Services

Soarchain’s blockchain-enabled V2X technology, combined with its decentralized and privacy-preserving data streaming solution will enable countless third-party services which will maximize the benefit both the user and service provider.

Insurance

One of the main ways that Soarchain will improve automotive insurance is by providing real-time and retrospective data about road conditions and traffic. With this information, insurers can more accurately assess the risks associated with a given vehicle and its surroundings, and adjust premiums accordingly. This can lead to more fair and accurate pricing for insurance policies.

Additionally, Soarchain enables drivers to privately share their driving data. For example, if a vehicle is equipped with Soarchain hardware, which has sensors and other technologies that can monitor things like speed and acceleration, insurers can use this data to assess the riskiness of a driver and adjust their premiums accordingly. This will incentivize safer driving behavior, which can lead to fewer accidents and lower insurance costs overall.

Finally, Soarchain will enhance the claims process for automotive insurance. For example, if a vehicle is involved in an accident, blockchain records can automatically provide data about the incident to the insurer, which can speed up the claims process and make it more efficient. This can make it easier for policyholders to receive the compensation they need after an accident, and can help insurers resolve claims more quickly and efficiently.

EV Charging

Soarchain could be used to create a smart contract that specifies the terms of the payment for EV charging services. This contract could be automatically executed when a vehicle connects to an EV charging station, and the payment for the charging services could be automatically transferred from the vehicle owner's account to the charging station operator's account. This would enable a decentralized and automated payment system for EV charging services without the need for a third party to facilitate the transaction.

Teleoperation

Teleoperation services, which allow users to remotely control their vehicles, can be securely and efficiently enabled through Soarchain’s V2X technology. To ensure that the vehicle teleoperation services are compliant with the relevant regulations and laws,. This will ensure that the services are compliant with the relevant regulations and laws, which will help to protect users and ensure that the services are reliable and secure.