PURP0SE OF BLOC VEHICLE
BlocVehicle is to breathe life into a new form of an ecological system of sharing and buying/selling vehicles between BlocVehicle users, primarily by basing its system on the car history data that is uploaded to a blockchain. The basic foundation of such system differs from the ones of traditional car rentals or used-car dealerships, since the data enables each individual to buy, sell, and/or rent, their used cars without having to go through an agency
WHAT BLOCVEHICLE HOPES TO ARCHIEVE
BlocVehicle is creating an unprecedented ecology that is centered on car history data. This type of infrastructure, by providing complete transparency on the value evaluation of an automobile, will be able to advance the automotive industrial ecosystem into that of a much clearer field. The current market of used-cars and car-rentals are faced with many obstacles:
1 The data of a vehicle’s history was not accessible to a single individual, since it is uploaded to an independent, third-party database.
2 As a seller, it is difficult to sell a car at your own price, since the buyer will not be able to confide in the information that you provide.
3 As a buyer, it is difficult to purchase a vehicle at its most reasonable price, since the dealerships of vehicles possess total control over provided information regarding the vehicle’s condition.
4 As an individual, it was not systematically possible to lend your car on your own, since there was no guarantee if the vehicle will be in a safe condition to drive.
About BlocVehicle
BlocVehicle hopes to combine blockchain technology with the automotive industry and offer users an economic ecosystem for automotive service. The BlocVehicle platform will enable users to store and retain data on cars, motorcycles, sailboats and other automobiles on a public blockchain ledger.
The goal of BlocVehicle's venture is to create an authentic trading service platform for used cars that will offer a transparent P2P system with automotive maintenance data on the side. Moreover, BlocVehicle hopes to embody a sharing economy within the automotive industry.
The BlocVehicle Platform Structure
The BlocVehicle platform will incorporate a network consisting of the following layers:
Apps Layer
The apps layer will offer a UI and API for the users to create and read the car information. The participants will also be able to use all the functions through the Android App/iOS with the third party entities such as corporation getting the ability to create quantitative data through their API version.
Service Layer
The service layer works to connect both the core and apps layers to give users the functions for data input and output. The service layer also includes information on the smart contracts, user accounts, and the vehicle tokens.
Core Layer
The Core layer diversifies the car databases to allow for safe protection of the data within the BlocVehicle Network. With the blockchain only able to handle a limited amount of data, there is the need for additional secure storage, and this is where the core layer comes in to manage.
BlocVehicle Blockchain Car Sharing For Rewards Solutions
The BlocVehicle Network will offer the following feature solutions to enable access to the components. These solutions are:
Accounts
Data creation will work through three different accounts including owner accounts, third-party accounts (person) and third (company) accounts. Service providers can also use an account for their data use.
Vehicle Information Ownership
Users will get to have full ownership of their automotive data that they create through blockchain. On the other hand, service providers or product manufacturers looking to use this data will have to apply for prior approval from the data owners
VCL Tokens
The BlocVehicle Network will issue its cryptocurrency in the form of Vehicle Tokens (VCL). The digital coin will help shape and sustain the economic ecosystem of data on the blockchain network.
How The BlocVehicle Network Can Help
BlocVehicle plans to create a new ecosystem for the automotive service industry, and this could help solve the problems of asymmetric information. Consequently, this could have the following implications:
Ability to create, store and retain vehicle data within the blockchain-based ledger
Reward users for vehicle data through the VCL tokens
Reduce the high service charges paid by sellers to car dealers
Improved quality check on used cars by buyers through the vehicle data system
Saves buyers time and cost of buying poor quality vehicles
Enable a sufficient insurance claim service with the authentic vehicle data
Car lessors will be able to share their cars thanks to the Vehicle Link service conveniently
Vehicle buyers and sellers are guaranteed the transparency and fairness in transactions involving vehicle trading.
BlocVehicle VCL Token ICO Details
Parameters Of The ICO
Pre-ICO Date: 8/15/18 – 9/14/18
Price- 1 ETH-5,000 VCL (Bonus- 3,500 VCL)
Accepts- ETH
Hard cap- 11,765 ETH
Soft cap- 2,000 ETH
ICO Date: 9/20/18 – 10/3118
Price- STEP1: 1 ETH – 5,000 VCL + Bonus 2,500 VCL
STEP2: 1 ETH – 5,000 VCL + Bonus 1,250 VCL
STEP3: 1 ETH – 5,000 VCL
Accepts- ETH
Hard cap- 49,333 ETH
Token Ticker- VCL (Vehicle Token)
Platform- Ethereum
Accepts- ETH
Supply amount- 1,000,000,000 VCLs
Token Distribution
ICO members– 40%
VCL Pool- 30%
Advisors and early investors, airdrops and partners- 15%
Founding team- 15%
BlocVehicle Conclusion
Though there is no denying the capabilities of blockchain technology, its application within the automotive industry still faces significant challenges regarding adoption, scalability, regulatory regimes and low standardization. That also applies to BlocVehicle's concept which in the future could face potential barriers to the industry embracing their technology. However, with the car industry rapidly evolving there is every reason to be confident with such a venture offering solution that is right out of the box.
Website : http://ico.blocvehicle.com
○ Twitter : https://twitter.com/BlocVehicle_com
○ Instagram : https://www.instagram.com/blocvehicle/
○ Medium : https://medium.com/@blocvehicleinfoinfo
○ Bitcoin Forum : https://bitcointalk.org/
index.php?topic=4792210.msg43241803#msg43241803
○Whitepaper: https://ico.blocvehicle.com/pdf/
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1460674
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