With the automotive world becoming more connected, the payment systems are in need of an upgrade to ensure quality. However, for a long time, there has been a lack of a sufficient remedy to meet this need. That is where blockchain technology comes in as probably the best way to connect the automotive world. Whether a car trader, insurer, owner or repair shop, the unique feature of a decentralized transparent platform can help build trust within the car scene. Here's how a blockchain venture is on course to revolutionize the automotive world.
What Is CarVDB?
CarVDB is a data-driven blockchain payment system that will incorporate digital currency for its automotive services. The decentralized is set to become a revolutionary technology to change the conventional processes involved in the automotive world. That will range from how we pay for car repairs, insurance, and trade. With the use of blockchain smart contract, CarVDB will assure a safe and secure platform for all car enthusiast to conduct their business.
CarVDB Automotive Industry Blockchain Platform Features
To facilitate its services, CarVDB works through four modules. These are:
- Auction platform-live and timed car auctions are held here by either individuals or auction houses.
- Insurance platform- insurance companies offer quotes and other services for CarVDB members.
- Vehicle maintenance platform- users can access vehicle service and repair centers for their problems.
- Marketplace- offer trading and rental services for professional car traders.
How CarVDB Automotive Industry Blockchain Platform Works
The use of blockchain technology means the platform operates through smart contracts. The platform's primary exchange mode is the car token (CAR). To access any of the services have to register first and fill out how he intends to use the platform, whether as an auctioneer, insurance company, seller, buyer or a service center.
While the platforms are serving specific purposes, CarVDB also allows for corporation among the modules. For example, you can buy a car in the marketplace, then seek a repair shop that can inspect the vehicle for you. Additionally, you can target an insurance company that offers the suitable packages for your car on the very same platform.
CarVDB can give the car owner a maintenance history whereas also providing reminders for scheduled maintenance thanks to the data backup system made through the blockchain technology. Initially, all sellers in the marketplace will require giving the vehicle details for storing on the blockchain.
That will provide the buyers with access to authentic and secure information which is not prone to manipulation. All these transactions will occur through smart contracts which are proving useful especially in the automotive industry with binding agreements.
CarVDB CAR ICO Details
The CAR Token is a utility token, meant to be used on CarVDB. CarVDB will be holding one single ICO event on March 13, 2018 and will last for 90 days. You can invest in this ICO by purchasing CAR tokens with Ethereum.
What Do You Stand To Gain From CarVDB?
As of now, the concept behind CarVDB is unique since many platforms have failed to combine all the elements within the automotive industry. Our traditional internet portals have underlying problems that are proving too hard to overcome. However, CarVDB aims to address these problems and bring customer satisfaction. Here's how CarVDB will offer to the different members of the automotive community.
- Low advertising cost with a high guarantee to get your car sold.
- Simplicity in term of interface and process
- Protection from scenarios involving scammers
- Fewer chances of meeting timewasters
- Low advertising cost
- Easy to manage the sale processes
- Faster publishing and maintenance of the ads
- No online scammers or timewasters