carVertical Whitepaper

 

Abstract

 

  • Automotive market is growing. Aftermarket is growing to an even larger extent.
  • Used vehicles change multiple owners and multiple countries. Real vehicle history does not exist, because car data does not travel as fast as cars do.
  • The lack of trusted vehicle history generates perfect ecosystem for unfair practices, which in turn generates false vehicle value.
  • Because of false value and unreliable vehicle history data, insurance companies overcharge for taking risks, therefore consumers overpay for it.
  • Vehicles generate a large amount of data which is monetized by third parties.
  • Data is owned by its creator, hence vehicle owner is the owner of data generated by their vehicle. However, today vehicle owner has no real control over data the vehicle generates.
  • We collect vehicle history, store it in blockchain and give back the control to the owner of the vehicle.
  • We are building tools and products for vehicles to generate more trusted data which is then added to blockchain.
  • We are creating incentive mechanisms for owners, so that they could get value for data their vehicles generate.
  • All data goes into creating a trusted, tamper-proof, and decentralized vehicle history registry.
  • By using vehicle history we are building a decentralized mechanism for transparently calculating vehicle value.
  • History, reports, and value calculations will be sold to parties in need and vehicle owners, as content creators, will be rewarded.
  • This will bring transparency and trust to the used car market
carvertical whitepaper

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carVertical Whitepaper

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