The advent of the Internet of Vehicles (IoV) has led to a significant surge in data generation from vehicles, prompting the innovative utilization of data transactions within the IoV environment. However, due to the inherent trustless nature of data transactions in IoV, concerns have arisen regarding the lack of trust between involved parties and the potential compromise of user privacy. To address these issues, blockchain technology emerges as a suitable decentralized distributed storage and security management solution, offering transparency and security in data transactions. In this study, we leverage blockchain to integrate with the IoV, devising a robust trust management framework, and devising a privacy protection scheme to safeguard user privacy concerns. Additionally, we employ the performance evaluation process algebra (PEPA) method for system modeling and performance analysis to assess the efficacy of our proposed solution. Empirical findings demonstrate that our approach effectively enhances the performance of data transactions within the IoV while ensuring that the privacy of users remains intact.