CarVDB ICO details
Start Date: 2018-3-13
End date: 2018-6-11
- Category: Business services, Platform, Software
- Token: CAR
- Platform: Ethereum
- Type: ERC20
- Initial price: 1580 CAR = 1 ETH
- Bonus: Pre-ICO - 50% Bonus Wave2 - 40% Bonus Wave2 - 30% Bonus Wave2 - 20% Bonus Wave2 - 15% Bonus Wave2 - 10% Bonus Wave2 - 5% Bonus
- Accepting: ETH
- Soft cap: 5888 ETH
- Hard cap: 25888 ETH
- Site: CarVDB site
- Twitter: https://twitter.com/CarVDB
- Facebook: http://www.facebook.com/CarVehicleDB
- Github: https://github.com/CarVDB/Crowdsale
- Reddit: https://www.reddit.com/r/CarVDB/
- Bitcointalk: https://bitcointalk.org/index.php?topic=2991729.0
- Medium: https://medium.com/@carvdb
- Telegram: https://t.me/carvdb
CarVDB – The First Decentralized End-to-End Blockchain Platform for the Automotive World!
CarVDB is building a new revolutionary technology which will change the conventional concept of how modern date vehicle trade, insurance services and maintenance should be done. As a first step we are moving it on the blockchain.
The functionality we are building will be a must not only for everyone in the automotive business but also for everyday users looking to buy or sell a car, get an insurance quote or schedule a service appointment.
What is more, our blockchain solution will not be limited only to the car industry. Motorcycles, trucks, boats, construction, industrial and agriculture equipment, all of those segments will be integrated into the CarVDB blockchain.
The key to success: A great idea, hard work, perseverance and patience. We have it all!
CarVDB Platform Overview
The CarVDB Platform in its present state was launched in the beginning of 2015 and has been undergoing constant upgrades ever since.
Introduced initially in the United States, the user adoption grew and we soon realized it’s potential. Several months later the platform was translated and launched in Spain to form the two main platforms on the Internet:
With the rise of the blockchain technology and the increasing adoption of the idea of decentralized applications and smart contracts, we decided that there is much more that the CarVDB platform can offer to its users.
Therefore we revised the strategy and future development plan and redesigned the platform core around the blockchain technology, thus improving its functionality and preparing the introduction of new or enhanced platform modules like:
- Decentralized Vehicle Marketplace for free trade and rentals between private and professional sellers and buyers.
- Free vehicle database searchable by VIN, containing vehicle technical specifications, manufacturer information, maintenance history and reports, scheduled maintenance requirements, repair manuals and more.
- Powerful Auction Platform, allowing setup of timed and live auctions both by private individuals and auction houses.
- Enhanced Insurance Platform, wrapped around the concept of reducing the premium people pay and in the same time reducing the risk for insurance companies.
- Fully Automated Vehicle Service Center solution, aimed at improving the services provided by Vehicle Service and Repair Centers and increasing the customer satisfaction from the contracted vehicle maintenance activities.
Below is outlined the schematics of the new platform design and functionality:
Problems to be addressed
The solutions that are currently being developed by our team, along with the ones in the pipeline, are addressing very specific problems that the car market industry has not been able to solve ever after the dot-com bubble.
Clever people with a lot of potential to challenge the status quo just accept what is considered best or “working” at the moment without realizing there is so much more that can be done.
There are a lot of reasons why the innovation is stuck and although we are not going to review those now, we would like to make the following statement – there are possibilities for real breakthroughs in the way users interact with the technology and vice versa and CarVDB is aiming to do just that.
Problems for Vehicle Sellers
CarVDB is going to address the problems that both individual and professional sellers face when trying to market or sell a vehicle.
- High advertisement cost
Placing an ad is often associated with high cost that is rarely justified. Sellers have to pay whether or not they manage to sell the vehicle through the website. It is custom for websites to offer additional “special functions” that cost even more and still do not guarantee successful sale. Some websites do offer free ad placement but users that choose the free option usually get limited functionality like less pictures to upload or and less ad visibility over the ads of users who have paid.
- Too many websites to advertise
When it comes to place an ad sellers usually get puzzled when trying to decide which website to choose. There are at least five major classifieds websites dedicated to car sales only in US. Not to mention the other options if users are trying to sell an RV or truck, or a boat. If sellers have to place their ad on all of these, it will take immense amount of time, not to mention the cost.
- Challenging user interface
Every website is different, hence functionality is different. For someone not used to the interface, placing an ad can be very challenging and time consuming. Finding the right field for each option takes times, not to mention that one and the same field might have different label on the different websites. There are many and various methods to add pictures, selecting options also vary – from checkboxes to select fields, radio buttons or free text type-in fields make the ad placing task quite complicated for the inexperienced user.
- Advertise all equipment and options
In order to make a great ad a user has to fill in all the vehicle information like standard and optional equipment, car history (if known), write a description, etc. This can be a frustrating task especially if the seller is not quite sure where each option should be added. Forgetting to mark that an option is available narrows the potential circle of buyers that might be looking for a vehicle specifically with that particular option or functionality.
Almost everybody who has tried to sell a vehicle by himself has experienced a scam attempt. Scenarios vary and scammers become more ingenious with every day passed. Lost time trying to figure out if the buyer is really interested in the vehicle is the least of the problems in such cases. Sellers might lose money or even their vehicles if the scammer manages to pull through the scam.
Another quite unpleasant thing to deal with are people with too much free time, not really interested in buying the vehicle or people who lack the money to pay the asking price. Statements like “I like the car but I am worried about the consumption” or questions like “Would you accept $16,000?” for a vehicle that is offered for $26,000 are quite common and really make the sellers wish they hadn’t tried to sell the car on their own.
Core Features & Solutions
Note from the CEO
We will not share the overall strategy or the platform design details before the ICO is successfully completed.
All ideas, especially the ones that are not yet realized, hold value and as such should be protected and revealed to the general public in due time. Still, if the hard-cap of the ICO is successfully reached all ICO contributors and the general public will be presented with detailed information which outlines the platform strategy, design and functionality in greater details.
What is important to highlight at this stage is that we have already started building the new platform and we are going to complete it whether or not the Crowdsale event is successful.
Once we are ready to reveal the true magnitude of our platform and the underlying technology, everyone would wish to have boarded the boat with us from the very start. We do not do the things in the established way, we have vision and passion to make a difference, and we are not afraid to experiment. This is the reason why we can and will disrupt the established standards and offer a fully functional solution that will bring value into people’s lives.
So consider the risks, think fast and make you own mind whether to participate in the ICO or not.
CarVDB is going to offer a solution to ALL problems outlined in this Whitepaper. In addition, the solution will be built around several core features.
- International Platform
Currently, the CarVDB platform exists in two languages – English (www.carvdb.com) and Spanish (www.micochenuevo.es) and operates in United States and Spain. Our aim in five year term is to extend the scope to the entire North America, the larger countries in Europe and also in South America. In longer term, the goal is to enter the market in Asia and Australia. See the Timelines section for more details.
- Unified Platform
As of today, there is no single, wide recognizable website or platform that can be used to buy, sell or rent any kind of vehicle worldwide. There are several dedicated platforms divided per vehicle type (cars, motorcycles, boats, etc.) and in addition a different such platform in each country. There is no single well-known marketplace which can be used to sell a car in Canada and in the same time look for Camper rent offers in the US. We aim to change that and even bring a lot more useful functionality like integrate an insurance and platforms, maintenance records check, offer repair manuals and much more.
If someone needs to find anything on the Internet today, they go to Google. There are no two opinions on the matter. Our goal is to build a “Google” for vehicles and we will build it better.
- Universal Platform
The platform will be designed considering the needs of both desktop and mobile users of all ages.
There will be a Web Client available for Desktop users. Our data shows that it will be used mostly by professionals and by all individuals who prefer to stick to the more traditional Internet browsing.
In addition, there will be two mobile apps for iOS and Android devices. Both applications will be fully functional solutions build around the concept that mobile users have the very same needs as desktop users and they need it anytime, anywhere.
The Solution: A blockchain based vehicle (not only car) database searchable by VIN / HIN that contains all the technical information along with the vehicle maintenance reports and schedule, previous owners count, insurance events and more.
The data will be stored on the blockchain, hence impossible to be forged. It will be additionally encrypted and any personal information will be “stripped off” to guarantee owner privacy. Furthermore, vehicle owners will also be the owners of their vehicle data on our platform providing a means for them to benefit from this fact. (More to be disclosed in the future).
Any vehicle deal that is closed will also be automatically stored on the blockchain, thus providing additional means for tracking vehicle mileage, history and owner count.