WCT's Trust Assurance in Decentralized Second-Hand Car Transactions
The introduction of WCT in the decentralized second-hand car trading market effectively addresses the pain point of information opacity. Key information such as vehicle maintenance records, accident history, and service status is recorded on the blockchain through WCT, allowing buyers to check at any time. During the transaction, the buyer pays a deposit using WCT, and the funds are held in escrow by a smart contract. Once the vehicle has been inspected and confirmed to be in order, the final payment is made to complete the transaction. After adopting WCT, a second-hand car trading platform saw the transaction cycle shorten by 50%, dispute rate decrease by 75%, and buyer trust increase by 60%. WCT makes second-hand car transactions more transparent, building a reliable trust bridge between buyers and sellers.