CityU students’ blockchain-powered solution for used car buyer protection wins bronze in the Fintech Olympiad 2022

Quick Summary

"The team named their project  "LemonT,” a creative twist to "lemon tea”, an iconic local beverage, reflecting the project roots in its birth city,” says Professor Raymond Chan, Vice-President (Student Affairs) of CityU, who praised this year’s projects being practical and impactful Fintech and youth powered solutions for everyday problems.

To avoid purchasing ‘lemons’,  a colloquial term for cars found to be defective after transactions, three CityU students formed a team, namely "LemonT”, and developed a tamper-proof method to record cars’ odometers and repairs that works with an App, a data logging dongle and an encrypted data system powered by blockchain.

The three awarded CityU students, all hail from Germany and Australia with computer science and materials science backgrounds, impressed the judges with their innovative yet practical solution that aims to safeguard consumer interest and help honest used-car dealers enhance their reputation.

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Published Date: 2022-06-24, 09:49:29

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News ID: 482897

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