THELOGICALINDIAN - The National Insurance Crime Bureau NICB lists a cardinal of scams and frauds that are abounding in the automotive adjustment industry These frauds transcend alarming and lifethreatening issues such as Airbag artifice windshield bottle artifice to brigand tow trucks that carriage your agent to dodgy adjustment shops There is no curtailment of problems in the automotive cosmos whether it is accompanying to auto adjustment shops autoinsurance or the supplychain for genitalia and spares One of the affidavit that barter are adversity is the burst attributes of the vehiclerelated industries All of the players complex accomplish in abreast and the chump and the industries themselves are accountable to practices that accept remained in abode for years An chip arrangement that acts as a articulation and binds the accomplished automotive acquaintance in a alternation has been missing until now The Agent Lifecycle Blockchain VLB claims to be the ultimate blockchain ammunition for the Agent Lifecycle Industry
Imagine an automotive ecosystem that encompasses aggregate from the time a agent rolls off the assembly band to the time it is junked in a yard. VLB aims to accompany accuracy and accuracy to abstracted apparatus in the automotive area like manufacturers, adjustment shops, insurers, financiers and added operating participants. The blockchain will bind these participants and abolish base practices ensuring that customers get a fair deal. CarFix, which has a absolutely operational business in Russia and has serviced 250,000 barter with its ability of 500 adjustment shops are the force abaft VLB, appropriately adorning it above aloof a ‘concept’. CarFix accept becoming the assurance of above agile owners like Uber and Fleetcor as able-bodied as a above car manufacturer. CarFix are additionally planning to extend their business archetypal to the United States. The blockchain will ride on the amateur of real-world barter and business owners, CarFix will be able to use their area acquaintance to backpack out sales and business to advice the arrangement get a ballast till a point area it becomes self-propagating. CarFix’s business development aggregation is alive in this administration and is headed by the above arch of accumulation at Uber. The blockchain will actualize a accomplished bread-and-butter ecosphere which will be fueled by the VLB token.
The VLB token, which is based on Ethereum ERC-20 accepted is a account token. This badge will be all-important for assorted participants and users of VLB to get admission to articles and services. Paying participants would be able to use the VLB badge to almanac affairs in the VLB as an archetype car owners would be able to almanac car acquirement affairs or can admission VLB annal for buying data. They can additionally clue car aliment and adjustment records. Similarly car adjustment shops can use these tokens to almanac car repair. There is a accomplished lot of use cases for the VLB badge that accept been acutely abundant in a whitepaper that has been issued by them, which run the absolute area of the automotive industry.The apriorism of VLB badge is that the advice in Vehicle Lifecycle Blockchain would be accounting through VLB tokens and eventually the absolute industry would crave this badge to conduct accepted transactions. VLB would aboriginal be deployed aural CarFix’s own arrangement and again move above it.
VLB tokens are actuality awash through an antecedent bread alms (ICO), which is ongoing at the time of the autograph of this article. The ICO’s aftermost date is December 17, 2017 and there are affairs to accession 300,000 ETH through the badge sale. 200 actor tokens are up for auction during the ICO. Any unsold tokens will be liquidated. The badge auction would be acclimated to accession funds for the development of the Vehicle Lifecycle Blockchain. Bonuses are accessible for investors during altered phases of the ICO and till December 2, 2017 there is a benefit of 195 VLB on acquirement of 1 ETH account of tokens. This agency that instead of accepting 650 VLB for 1 ETH, an broker will get 845 VLB.
Instructions on how to participate in the ICO are accessible on the VLB website.
As the blockchain system’s deployment picks up pace, the cardinal of participants will increase. Anniversary actor is answerable to absorb at atomic 1 VLB badge on every transaction they do on the system. According to the estimates fabricated by CarFix, there are at atomic an boilerplate of 3.5 advantageous participants per anniversary transaction and they activity that appeal for VLB tokens would acceleration by 16 times in the abutting 5 years to 4.4 bln per year. This could potentially advance to beholden armament on the token. The allowances of the blockchain itself are abundant and can potentially advance to revolutionising an absolute area with the actualization of a decentralised, arguable arrangement in place. As an archetype insurance companies would be able to assurance annal and action bigger affirmation administration costs. They would additionally be able to action cross-market casework to added users of VLB. Manufacturers would be able to action reliable aliment annal and accomplish the assurance action added cellophane and effective. Repair shops angle to accretion as able-bodied as they get admission to the blockchain and CarFix’s authorization network. VLB has the ambit and the potential to accompany a new age of assurance in the automotive sector, area it has been breakable due to years of abstract amid the participants and malpractices that accept disenchanted customers.
