Carblox ICO: Company Review and CRX Token News Updates

Carblox CRX ICO: Automotive Vehicle Market Blockchain?

This is one of the world’s first decentralized vehicle multi-platform based on blockchain technology. It’s a powerful ecosystem that is designed to harness data and information on vehicles. The platform will be used to validate vehicle data and make the global car market a more honest and reliable place. At it’s care the system basically works as a decentralized vehicle registration system. It’s designed to be the first cryptocurrency network to be used to buy and sell cars and vehicles. They want it to be a totally transparent and secure network that can be trusted. There is also a whitepaper listing on the website that can be looked over if you want to.

How Does Carblox Automotive Vehicle Market Blockchain Work?

This is a worldwide market where you can buy and sell vehicles. The vehicle industry is one of the largest markets in the world and is growing at a continual rate and likely won’t stop any time soon. As of now the Automotive Sector has a value of 1,010 billion USD.

Automotive insurance revenue is a quarter trillion-dollar industry as well. And there is also the second-hand car market that is a 195 billion USD industry as well. As of now, the worldwide car market is partially run by middlemen and is highly efficient plus has a lot of fraud and customer complaints.

The vehicle market is changing constantly, and last year in 2017 – eight out of ten executives predicted there would be a huge disruption in the upcoming future. As far as research goes as of now, there is a lot of change happening right now in the industry.

There is future for several different types of business models. And one of the most important things as of now is helping the customers rest assured that their data will not be lost in the long run. People used to be comfortable with their data being used and not getting paid for it, but things are changing, and people are no longer as naïve as they used to be.

A majority of the problems in the car industry are easily addressed and the same complaints that have been around since cars have been sold. One of the biggest complaints is that of maintenance frustration, there are two fifths or 41% of all consumers have reported experiencing problems with a second-hand car within the first year of buying it.

People also complain about unfair practices when it comes to getting their cars worked on or buying cars second hands. There is also a lack of guarantees that people say is also a major problem that people are always saying is an issue.

The system is based on the flexible Ethereum blockchain. It’s said to be a reliable infrastructure and ecosystem that uses the blockchain technology to the fullest extent of its possibilities through the use of Smart Contracts. The Smart Contract technology is one of the strongest technologies and guarantees safety when buying and selling cars online.

The information is safe due to the cryptographic methods that are used to store data. The platform is designed to help confirm sales and transactions, so you know it’s 100% reliable. Thanks to the blockchain technology, there is reliability for both the buyer and seller. It is said to help eliminate the aspect of human error that happens when going through the bureaucratic tape that often happens.

Carblox is a decentralized platform from all different angles. The different levels of data have no centralized data center. All data processed is stored or executed on different layers of the platform. All of the different layers of development occur with the knowledge and consent of the people using the platform.

They also use an advanced API that owners of cars and buyers as well as service centers. An API allows participants to easily integrate their platform to work with the Carblox system. Buyers will have the ability to buy a car without worry. Carblox has all the history of a car in digital and physical form. The authenticity of information is verified on the blockchain technology. That way, the buyer knows exactly what they’re getting, and no arguments can arise.

Insurance can also be purchased on the platform and they are promising to take it to a ne level. All calculations and payment will be based on data that is stored on the platform. Companies will be able to work with individuals to create plans based on individual products, so they can help reduce the cost for vehicle earners and save the insurance companies money at the same time.

There is also a repair search option to help car owners find the cheapest and best prices on maintenance and repair. And with the store of data on the platform, it makes it easier then ever for mechanics to fix a car properly.

The system is also ready to integrate with your car and your car is said to be ready as well. The data on the condition of the car must be verified and cannot be changed once it’s on the blockchain. This makes Carblox an extremely safe system for people buying and selling cars.

Carblox CRX Token ICO Details

Carblox utilized their own token called CRX. The coin is compatible with the ERC-20 token and is based on the Ethereum blockchain. The main ICO was held in January and has concluded now.

Carblox Conclusion

The system is designed to help people sell cars online. But it’s still a new company and before you invest too much into it, wait and see how the blockchain technology works for the system.