CarTaxi ICO Aims At $26 Towing Market
It’s estimated that the global market for towing services is $26 billion a year. In the US alone towing services account for $6 billion.
And that number is only growing. In the United States the towing market is estimated to be growing at 2.5% per year. In rapidly developing countries like China the towing market is already twice as large as the US.
China is just one market that the new towing startup CarTaxi is entering. Using the many advantages of the blockchain combined with an easy to use app and geolocation technology, CarTaxi it believes it can become a market leader in the fast growing towing industry.
CarTaxi’s Proven Product
CarTaxi already has a proven product that is currently being used in 38 cities and with more than four thousand registered clients.
This differentiates it from many other ICOs which are yet to validate their product or acquire users.
The funds raised from the CarTaxi ICO (https://cartaxi.io/ico) will enable the company to rapidly expand the CarTaxi market reach and develop the technology which will give it serious competitive advantages.
How Does CarTaxi Work
CarTaxi is built on the back of the Ethereal blockchain. This enables CarTaxi to provide an automated delivery of towing services. All of the towing truck providers that use CarTaxi will be brought onto the CarTaxi network.
From the user perspective using CarTaxi will be seamless. They will be provided with a mobile app which they can use to order towing services when they breakdown.
The geo-location features of the CarTaxi meant that it will automatically be able to determine where the closest towing provider is located. CarTaxi will also take into consideration the optimal towing truck based the cars weight and damage.
In total it will only take two swipes in order for towing services to be provided using CarTaxi.
Advantages Of CarTaxi Over Existing Solutions
Currently most towing services are provided using outdated technology. Dispatch methods are performed by humans meaning that they are slower and more prone to error.
With many different towing providers the quality of the service can differ significantly. There is also no recognised brand name in the towing market. This can make it difficult for drivers to decide which towing service they should use.
Growth Plans For CarTaxi
CarTaxi will start by targeting the CIS markets. This includes countries such as Russia, Armenia and Ukraine. This will take place over 2017 to 2018. In the first quarter of 2018 CarTaxi will be launching into the two largest markets for towing services which are the United States and China. In 2018–2019 CarTaxi will enter other markets including East Asia, India and Eastern and Western Europe. If all goes according to plan then they should have achieved full market dominance by 2022. While this may seem ambitious when we look at the rapid growth of other similar startups a five year plan like this does actually seem possible.
Summary Of CarTaxi ICO
- Start date: 29 Sep 2017
- End date: 29 Oct 2017
- 487.500.000 CTX tokens which is 97.% of the total supply
- 1 CTX = 0,000443 ETH
- ICO funds held in Escrow
- Multi-signature wallet