What is BlocVehicle Project?

What is BlocVehicle Project?

BlocVehicle is a new platform based on the Ethereum technology, which plans to provide an innovative version of the services related to tenanted and used cars. The basic principle includes providing a hub for carrying out transactions with used cars at an individual level, as well as a P2P platform that will allow people to rent cars from each other - a service that resembles Airbnb.

BlocVehicle is expected to bring great change to the economic ecosystem of the automotive service industry. BlocVehicle enables users to store and share data for their vehicles in a blockchain-based public ledger and create a trading service platform for the used car market, offering an equitable P2P trade system. Moreover, BlocVehicle will embody the model of a sharing economy in the automotive industry, allowing anyone to lease a car to people and earn money. Furthermore, BlocVehicle will cooperate with automotive service providers. The data will be integrated and stored in a blockchain-distributed ledger. Users will have full ownership of their data. Additionally, off-blockchain storage will be set up for various purposes, presenting opportunities to users. BlocVehicle will form an economic ecosystem in the network, and contributors will receive VCL tokens commensurate with their contributions. The tokens are a medium of reward to pay for services provided within the BlocVehicle's ecosystem.

BlocVehicle Solution:

The BlocVehicle Network will offer the following feature solutions to enable access to the components. These solutions are:

Accounts

Data creation will work through three different accounts including owner accounts, third-party accounts (person) and third (company) accounts. Service providers can also use an account for their data use.

Vehicle Information Ownership

Users will get to have full ownership of their automotive data that they create through blockchain. On the other hand, service providers or product manufacturers looking to use this data will have to apply for prior approval from the data owners

BlocVehicle Tokens

The BlocVehicle Network will issue its cryptocurrency in the form of Vehicle Tokens (VCL). The digital coin will help shape and sustain the economic ecosystem of data on the blockchain network.

BlocVehicle Network Benefits:

BlocVehicle plans to create a new ecosystem for the automotive service industry, and this could help solve the problems of asymmetric information. Consequently, this could have the following implications:

• Ability to create, store and retain vehicle data within the blockchain-based ledger
• Reward users for vehicle data through the VCL tokens
• Reduce the high service charges paid by sellers to car dealers
• Improved quality check on used cars by buyers through the vehicle data system
• Saves buyers time and cost of buying poor quality vehicles
• Enable a sufficient insurance claim service with the authentic vehicle data
• Car lessors will be able to share their cars thanks to the Vehicle Link service conveniently
• Vehicle buyers and sellers are guaranteed the transparency and fairness in transactions involving vehicle trading.
• BlocVehicle is a sharing economy service, where everyone can trade and share their used car directly with others. BlocVehicle platform allows people to trade their used car without any dealer’s interference. It is based on reliable car-history data so that people can trade their car peer to peer directly and create a transparent and equal socity. BlocVehicle platform enables people to make profits by lending their cars. By sharing car-history data, anyone can use the owner’s car easily and cheaply, which can be a foundation of vehicle sharing economy business model.

BlocVehicle System Structure

The BlocVehicle platform will incorporate a network consisting of the following layers:

Apps Layer

The apps layer will offer a UI and API for the users to create and read the car information. The participants will also be able to use all the functions through the Android App/iOS with the third party entities such as corporation getting the ability to create quantitative data through their API version.

Service Layer

The service layer works to connect both the core and apps layers to give users the functions for data input and output. The service layer also includes information on the smart contracts, user accounts, and the vehicle tokens.

Core Layer

The Core layer diversifies the car databases to allow for safe protection of the data within the BlocVehicle Network. With the blockchain only able to handle a limited amount of data, there is the need for additional secure storage, and this is where the core layer comes in to manage.

BlocVehicle Team:

BlocVehicle Team is comprised of passionate professionals from various fields, including automotive service, software development, network development, and data security. The team is fully confident that the blockchain technology will be able to introduce a new era for the market of vehicle transactions – a one that is of a P2P system.

○ Changha Lee / CEO and Co-founder

○ Sungki Lim / CMO and Co-founder

○ Seongtae Kwak / CTO and Co-founder

○ Gijung Choi / Co-founder

○ Byoungchang Han / CIO

○ Youngkeun Moon / PMO

○ Jusung Kim / Full Stack Developer

○ Dalsu Byun / Blockchain Developer

○ Changgyun Kim / Blockchain Developer

○ Yunho Cho / Project Leader

Roadmap:

Token Sales Detail:

Token: VCL

Price: 1 VCL = 0.002 ETH

Bonus: Available

Bounty: Available

Platform: Ethereum

Accepting: ETH

Soft cap: 2,000 ETH

Hard cap: 49,333 ETH

Country: Singapore

Distribution of Tokens

 Distribution of Tokens Total of one billion utility tokens included in the Genesis Block of BlocVehicle Network will be distributed in the following patterns:

 400,000,000 => Distributed to ICO members

 300,000,000 => VCL pool (used as reward for data production for 30 years)

 150,000,000 => Founding team (sale of tokens banned for two years)

 150,000,000 => Distributed to advisers and early investors, Airdrop, Country Partner ; undistributed tokens to be terminated

For more information:

○ Website : http://ico.blocvehicle.com

○ Facebook : https://www.facebook.com/BlocVehicleico/?modal=admin_todo_tour

○ Twitter : https://twitter.com/BlocVehicle_com

○ Instagram : https://www.instagram.com/blocvehicle/

○ Youtube : https://youtu.be/psnsbcvCHmU

○ Medium : https://medium.com/@blocvehicleinfoinfo

○ Reddit : https://www.reddit.com/user/BlocVehicle/posts/

Author: tinhkhuat

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