CarFix is issuing VLB Tokens in an ICO to create a blockchain for the Vehicle Lifecycle Industry VLB_token Follow Oct 22, 2017 · 3 min read

CarFix, the creator of a transactional platform for vehicle maintenance and repair, is announcing the launch of an ICO scheduled for late November. The goal of VLB Token ICO is to raise up to 300,000 ETH to develop and implement a blockchain platform for the $1.8 trillion vehicle lifecycle industry.

Such industry players as vehicle manufacturers, dealers, repair shops, insurance providers, auto lenders, distributors and OEMs will be able to garner significant benefits from using the blockchain based software.

These benefits of accuracy and immutability of records range from enforcing various warranties, maximizing resale value of vehicles, ascertaining the authenticity of spare parts, achieving more accurate and cost effective insurance claim management, monitoring the adherence to various recommendations to other industry participants, and optimizing insurance policy pricing through reliable actuarial inputs.

CarFix was launched 18 months ago in Moscow and St. Petersburg and, after raising over EUR 5 million, has developed into a major ecosystem in the auto repair and auxiliary space. CarFix ecosystem currently encompasses over 500 repair shops, 10 largest spare parts distributors, major dealerships, over 250,000 users of which 50,000 are regular paying customers.

CarFix has developed interface software for the following industry participants: car owners, repair shops, spare parts distributors and fleet management companies. Software that will grant access to the existing ecosystem to insurance providers, auto lenders and car manufacturers is currently under development.

CarFix has a cohesive team of 28 software engineers and developers focused on the interface software.

CarFix has partnered with Qiwi Blockchain Technologies and has assemble a team of leading blockchain experts to develop the Vehicle Lifecycle Blockchain (“VLB”).

Qiwi Blockchain Technologies is the research & development arm of Qiwi, a NASDAQ listed payments processing company. Sergey Solonin (Chief Executive Officer, President and Director Qiwi plc, Managing Partner of Target Global Fintech Opportunities Fund at Target Global), will advise and Alexey Arkhipov, the mastermind developer behind MasterChain, the first blockchain solution implemented in the Russian banking sector, will lead the Vehicle Lifecycle Blockchain development team.

Vehicle Lifecycle Blockchain implementation will happen in two stages: i) rollout across the existing ecosystem with CarFix acting as a moderator and ii) decentralized deployment beyond the CarFix business with proof-of-stake consensus mechanism.

VLB Token launch is different from other ICOs in the following ways: - CarFix has built a successful business in real world that demonstrates the viability of the vehicle lifecycle business model - Leading blockchain engineers stand behind the feasibility of constructing the blockchain described in the White Paper - In most ICOs blockchain comes first and its real life implementation and proof of business concept are not sufficiently explored. With VLB, business operations are in the growth phase with most of blockchain interfaces already developed - Over 10,000 ETH worth of VLB Tokens already privately sold to institutional investors

CarFix founders have a wealth of entrepreneurial experience. Oscar Hartmann, co-founder and president, has launched over a dozen companies including Kupi-VIP, CarPrice, Aktivo, Simile Venture Partners, Lesara, and Zaodno. He is also an advisor on the ICO of Blackmoon Crypto, which raised $30 million within 19 hours.