Blockchain technology has been developing very rapidly through the entire world and is widely seen as one of the most disruptive forces in modern businesses. The applications of blockchain technology to the finance, insurance and automobile industries create extra values in innovation and motivation to the business. This paper is to describe the research and development work called iCarChain which is based on vehicle networking and blockchain technology, through distributed ledger, consensus mechanism, smart contract and other underlying architectures, using open and transparent value acquisition and an artificial intelligence based allocation algorithm to achieve value realization of data on vehicle and driving behavior. Each user (vehicle owner or driver) is referred to install an intelligent OBD device. The device captures the real-time data from vehicles to produce value identification. With such technology, the values of data acquisition and transparent can be transferred through the token carriers called iCarToken which is an incentive unit launched for users to contribute their behavior value, which is generated by blockchain and smart contract, and is gained through the value of contribution behavior.