The Carblox platform is built around providing a central database that will store all the information of a vehicle through out its life cycle. A move that has been titled the birth of the Digital Ecosystem. In addition to making information about any vehicle easily accessible and verifiable, the Carblox platform also aims to make a vehicle more profitable in the long run and throughout its entire life cycle. Where a shift would be created; cars would also be valued based on their digital eco system value and not just on their hardware.
Creating a platform where both information can be added or accessed from one central portal makes it more authentic and beneficial to both those who ensure that they provide correct information about their vehicles and also those who hope to enjoy the same benefit when they go on to search for any information about any vehicle.
The authorities and legal bodies are not left out of this very mutually beneficial partnership. Authorities can further validate the authenticity of the platform by entering the information of any vehicle that has been involved in any illegal activity and also verifying if the car has indeed been reported to have been used for any criminal related dealings in the past. Thus, addressing and somewhat legalizing the “grey” market.
Also, a vehicle not listed on this platform will hint at some shady history about the vehicle, hence signaling prospective buyers to rethink their action and loosing its claim or value in the market. vehicle information is also vital in the case of either a purchase or sale of a vehicle. Where both parties can verify the history of a car by a trusted source. This will ensure a level paying field for both the seller and the buyer. With a platform like Carblox, the value of a car can easily be estimated based on a number of authentic parameters that would have been gathered previously and authenticated by the unique blockchain technology.
In addition, insurance services can benefit from the unique carblox platform as it will provide accurate data that will enable insurance companies offer more personalized insurance products. Data and information available on the platform will help insurance companies to accurately price their various products based on maintenance history, technical condition, mileage and information about the driving style. In this sense, customers would be charged fairly and the insurance companies would be able to accurately measure their service delivery and costs. Furthermore, customers would be able to rely on previous diagnostics and the wealth of repair information from similar vehicles on the platform to estimate the correct cost of a repair.
The Carblox platform boasts of a number of advantages for users some of which include a platform based on a reliable, flexible and dependable Ethereum blockchain technology which also supports smart contracts and Carblox token (CRX) as a native currency on the platform. There is complete transparency and the encrypted form of data storage backed by cryptographic technology ensures that the information and data on the system remains safe and secure.
Being the first of its kind in the industry, backed by cutting edge technology and promising a mutually beneficial platform for both vehicle owners and users alike, the Carblox decentralized vehicle multi-platform on blockchain will bring about the much needed digitalization that the automotive industry is desperately yearning for.