Hello!
Today I want to acquaint you with a very interesting ICO project — Vehicle Lifecycle Industry (VLB).
Automotive space is immense in terms of market value and breadth of various sectors that it is comprised of. In Europe and North America the size of the vehicle lifecycle industry is upwards of $1.8 trillion and encompasses such sectors as: vehicle sales, after market spare parts, car insurance, auto finance, and auto repair.
There are two aspects of the interactions between the participants of the Vehicle Lifecycle Industry that make blockchain advantageous as the underlying technology behind modernizing the relationships in the industry. These two aspects of paramount importance are: 1) integrity and recency of records, and 2) conditionality of certain relationships.
CarFix is the developer of Vehicle Lifecycle Blockchain that has already created a broad ecosystem of industry players in the vehicle lifecycle industry and is currently selling VLB Tokens to develop the blockchain to support it.
CarFix is launching an ICO to raise up to 300,000 ETH in order to build a blockchain for the Vehicle Lifecycle Industry, leverage CarFix’s existing business model to achieve critical adoption rate among Industry Participants and ultimately make the Vehicle Lifecycle Blockchain open, independent of CarFix and propagated globally.
Currently, CarFix runs a fully operational business in Russia and is leveraging its software development team to explore business model extension to USA. CarFix was launched as a concept in April 2016. Since launch, CarFix processed over 250,000 repair and maintenance requests and served over 50,000 paying customers. We are on track to grow this number to 1 million requests and 250,000 customers in the next 12 months within the existing CarFix ecosystem.
CarFix ecosystem is currently comprised of 280 fully integrated independent repair shops (with 500+ onboarded repair shops in total), all key spare parts distributors, dealers of most popular mass-market car brands, a major insurance company and the leading Russian auto lender. This ecosystem is continuously growing and evolving to accommodate the optimal supply and demand equilibrium along the entire vehicle lifecycle.
The existing CarFix ecosystem and software systems present a perfect staging ground to develop and deploy the blockchain technology described herein. CarFix’s current business model, which is driven by the notions of transparency, efficiency and fair pricing, will be further empowered by the blockchain’s core premises of decentralization and immutability of records.
In the course of the ICO, CarFix will issue up to 250 mln VLB Tokens. 20 mln VLB Tokens have been placed during a privately organized pre-ICO, 200 mln VLB Tokens will be sold to during ICO, 20 mln VLB Tokens will be maintained by CarFix to facilitate the rollout of the blockchain (“Network Development Tokens”), 10 mln VLB Tokens will be issued in favor of advisors and the bounty program. Funds raised in the ICO will be used to program and implement the Vehicle Lifecycle Blockchain across the existing CarFix platform, initially, and in the broader industry immediately after its successful deployment within the controlled environment of the CarFix existing ecosystem.
In the course of the ICO up to 200,000,000 VLB Tokens will be sold to token purchasers
There will be 4 separate stages of VLB Tokens sale, as stated on a diagram above. Any VLB Tokens not purchased during the ICO will be burned
In case the ICO fails to attract more than 25 000 ETH, CarFix will cease the project and return the amounts collected to VLB Tokens buyers
CarFix will utilize Network Development Tokens to issue to Paying Participants of
the blockchain until a certain critical mass of Paying Participants and recorded transactions is achieved
Following the achievement of such critical mass, Paying Participants will have to
purchase VLB Tokens from VLB Token holders on leading crypto exchanges to pay
for validation of their entries in the Vehicle Lifecycle Blockchain by Proof-of-Stake
Nodes
Stage 1 will be undertaken by CarFix in Russia and USA
Upon successful completion of Stage 1 of the Vehicle Lifecycle Blockchain deployment, the blockchain will become available to the IT teams of Industry Participants beyond CarFix.
VLB Token launch is different from other ICOs in the following ways:
