Six great benefits of VLB tokens that you need to know

Last week, one of my friends told me about VLB (Vehicle Lifecycle Blockchain), an innovative blockchain based platform which will revolutionize the car industry by bringing together all participants like auto dealers, insurance companies, banks, etc. I was wondering how a single platform will be beneficial to all of them. So, I researched and dug about the platform online to gather information. Also, I read their whitepaper which is available in http://vlb.io/Whitepaper.pdf. Listed below are the various benefits provided by the platform depending on the type of participant.

Insurance companies

You cannot drive any car without taking insurance. So, insurance companies play a major role in the automobile industry. VLB will provide information about accident/repair records from the blockchain registry which will help the insurance companies to set the price range for the policies.

Vehicle manufacturers

VLB will provide real-time statistics about the demand for spare parts in a specific region so that the vehicle manufacturers can manage their supply chain process effectively as they get information about that well in advance. They can also cross-check the maintenance records from the platform if someone makes a warranty claim.

Repair shops

VLB helps the repair shops to increase their revenue by getting regular work orders. If a particular repair shop gets more positive reviews from the customer, then it will be listed on the top of the page. So, a new customer is more likely to read the information about the repair shop first before proceeding with the other shops in the list. Apart from customers, repair shops will also have the option to connect with other participants like insurance companies, vehicle manufacturers etc.

Auto dealers

Dealers can use VLB platform to record their transactions on the blockchain. They can check the sale reports of their competitors to know the customer’s expectations and improve their business accordingly. If there is any need, they can also contact the customers directly which will help to set fair and transparent prices.

Auto Lenders

If someone applies for a car loan with the lending company, then they can quickly cross-check all the background information of the customer like their insurance records, accident history of their past vehicles etc. In a nutshell, VLB platform helps the auto lenders to know the customer’s capacity before sanctioning loan.

Government regulators

They can easily monitor the ownership rights from the public ledger that is stored on the blockchain. Additionally, they can monitor all the transactions that take place between the participants if they become a member of this platform.

In short, VLB is an all-in-one platform which connects all kind of players in the automobile industry under the same roof. To access the platform, the participant needs to hold the special type of token called VLB tokens. VLB tokens are based on the Ethereum standard ERC20 that can be bought during the token sale of the company.

For getting latest information about the pricing, availability, and terms of token sale, please visit http://vlb.io/