Project Abstract

This dissertation investigates the application of the ERC-6551 standard on the Ethereum blockchain, focusing on the representation of real-world assets. As more sectors investigate the uses of blockchain technology the need for robust and dynamic asset management systems become crucial. The ERC-6551 standard introduces an improved method for representing physical assets as non-fungible tokens (NFTs), enabling dynamic interactions, metadata updates post-creation and an extendable systems, which is a significant advancement over the static nature of previous standards like ERC-721.We created a decentralised platform where cars are tokenized on the blockchain. This tokenization not only facilitates the secure and transparent transfer of ownership but also allows for modular additions to the system for various car-related attributes and certifications such as MOT certificates and parking fines into one unified system. Our approach ensures that all relevant data about a vehicle, from MOT history to Manufacturer, is immutable and easily accessible, reducing the potential for fraud and errors in record-keeping. The results of this dissertation demonstrate that the ERC-6551 standard not only offers a viable alternative to traditional methods of asset management but also enhances the functionality, paving the way for a decentralised future.

Keywords: Blockchain, Ethereum, Smart Contracts

 Conference Details

Session: Poster Session A at Poster Stand 128

Location: Sir Stanley Clarke Auditorium at Tuesday 7th 13:30 – 17:00

Markers: Anton Setzer, John Tucker

Course: BSc Computer Science, 3rd Year

Future Plans: I’m looking for work