How can we reduce information asymmetries and enhance trust in ‘The Market for Lemons’? | Semantic Scholar

Empirical evidence is found that multi-party certification affords dealers the action potential to send signals of significantly higher fit than those sent by intermediaries alone, leading to a reduction in information asymmetries, a more efficient allocation of goods, and an increase in market fairness.

This work follows design science research to guide the implementation of a blockchain-based proof-of-concept prototype that enables the automated transaction of real-world assets and provides a valid, transparent, and immutable record of vehicle history to market participants, authorities, and other third parties.