VLB – World’s first Vehicle Lifecycle Blockchain

In countries like UK/USA, the cost of labor is very high when compared with countries in the Asian subcontinent. So, if something is not working properly, people will buy a new one instead of getting the old one repaired. Let’s think of this scenario. If an electronic item, like TV or phone, is not getting switched on. What will you do? Most of the people will take it to the nearest service center to get it fixed provided if the warranty of the product has not expired. But in countries like the US, the repair cost will be more than the original price of the product. So, if your TV is not working, the best option is to buy a new one and trash the old one. This concept may work for small items. What about for Car?

Owning and Driving a car is not considered as a luxury in the US. Instead, it is a mandatory for the daily commute as the public transportation is limited. So, the most household will have at least one car. To function properly, a car needs regular service and maintenance. Whenever you get some problem in your car and take it to the nearest car repair service center, you are more likely to get a bill of at least $500, because the prices are not uniform and fixed by the service center on their own.

To address this concern, Carfix was created in 2016 with the sole objective of providing high-quality car repair services at uniform rates. Within 2 years from its creation, Carfix has brought more transparency in the automobile industry with the release of two software namely InstaCar and InstaFix. InstaCar will calculate and show the approximate price to fix your car. Based on the problem statement, it automatically chooses the necessary spare parts to complete the job. It also calculates the number of hours needed to finish the work and the approximate cost of the repair. InstaFix software was mainly developed to notify about the booking of car repair, time schedule, needed spare parts etc. It is used as an interface between car repair shops and distributors. The company has partnered with more than 500 car repair shops and the car owner can easily choose the nearest repair shop to their location using the Carfix platform.

Now, the Carfix company is planning to expand its services by creating an innovative global platform called Vehicle Lifecycle Blockchain (VLB). The main objective of VLB is to bring together all car services like insurance companies, auto dealers, OEMs, auto repair shops, car manufacturers, car owners and loan providers (banks/private companies) under one single platform. VLB will be using the smart contracts and blockchain technology to achieve this goal. To read more about the platform, please visit http://vlb.io/Whitepaper.pdf

VLB tokens will be the medium of exchange used to access the features of this platform. They are utility tokens based on the Ethereum standard ERC 20. All participants need the VLB tokens to record their transactions on the blockchain. These tokens can be bought during the initial token sale offered by the company. Check out http://vlb.io/ to get the latest information about the token sale.