IRON BLOCK — Decentralized Platform designed to meet Global Market

Currently, the traditional sales model for a specialized machine is less transparent and poses risks for both direct and distance selling. The price of used machinery in this market can rise from several tens of thousands of dollars to several million dollars, depending on the state and original price. The validity of the technical condition data for a special purpose machine, combined with trust in the counterparty, is the main criterion for closing deals in the market. Online lists and bulletins serve as the main communication channel between market participants and do not guarantee that the data conditions are correct or the devices are even available.

Potential sales, leasing and maintenance of specialized machinery specifically for construction, agriculture and raw materials only reach a trillion dollars a year, with new engine sales growing at an annual rate of 6.5%. Direct online sales without intermediaries, however, do not account for more than 2% of the total market. The reason for this low sales volume is mainly due to a lack of trust between the parties.

This trust problem is solved by major industry auctions such as Ritchie Bros., Iron Planet and others. With the statement that the use of this auction ring imposes some restrictions on machine owners, as well as the logistics costs and the cost of downtime and pre-sale preparation. According to him, there is no business model that solves trust issues among market participants worldwide, but the solution is easily scalable and, in one way or another, incurs additional costs for buyers and sellers.

Iron Block Solution

IronBlock is a decentralized platform for checking machine conditions, optimizing maintenance services and meeting all contractual obligations for transactions between participants in the construction, mining and agricultural machinery markets. IronBlock’s primary mission is to provide the necessary level of trust in information about traded devices, so that owners, leasing and insurance companies, as well as buyers worldwide, can interact directly without intermediaries, without risk and with significant monetary and time savings.

IronBlock offers solutions to two major global specialty machine market issues:

1. Check the validity of information about the machine.
2. Guarantees of compliance with the contractual obligations between the participants.

Validity of the device data

The solution is based on the overhaul of machine maintenance and inspection services involving local service centers and the collection of information about the blockchain. Each service center must undergo a verification and selection process to obtain an IronBlock license. The quality and speed of order processing for certifications and machine services directly impacts the rankings of the service center and the overall profitability of each transaction.

Guarantee of the fulfillment of the contractual obligations between the participants (ESCROW). Using IronBlock Certificates and TechPassports ensures contractual compliance with licensed IronBlock agents in the field and records requirements in Smart Contracts.

Our solution will make it possible to monitor transactions in all phases:

• L / C for transactions
• Logistics equipment;
• Customs declaration;
• Legal support

In order to control and comply with contractual obligations, API access to the platform will be provided to the largest local, international logistics operators, insurance companies, customs brokers and other market ecosystem participants.

Certificate of equipment condition

The foundation of this platform is the proven IronBlock electronic certificate, which is implemented in the intelligent block-over contract with Ethereal using distributed data storage technology. In the industrial machinery market, machine inspection services are well developed. The average cost of such services is 500–1000 euros. Local service centers can provide such services, send their field teams to equipment locations, and carry out technical inspections. Customers are usually buyers or sellers who want to sell used equipment at a higher price or vice versa. The IronBlock certificate has 3 machine validation levels. A base and two additions.

To see an example of a published certificate, follow this link: http: / /www.machinefinder.com/eval/ a7adbe22c00b8ba392d7–126039

Authenticity of the certificate

Each issued certificate is signed by a licensed service center. The certificate hash is recorded in the Ethereum block. All detailed information, including media files, is stored in the distributed file storage system for the validity of the certificate. At the same time it is not possible during the validity of the certificate to make changes that guarantee its authenticity and protect against counterfeiting.

Certificate used

The certificate allows the buyer to verify the device data and the seller proves its validity. That is, owners can use it when publishing ads on any platform to verify the genuineness and validity of the information in the device description. Buyers can also order certificates for each machine purchased. Leasing companies and owners of large equipment fleets can be far away and regularly receive reliable information about the condition of their equipment. The IronBlock certificate also allows the use of ESCROW services for special machine transactions with the IronBlock platform later on the phone.

Techpassport

Techpassport was developed to confirm the current condition of the engine and to control its condition and improve the quality of care in the long run. The maintenance frequency of the machine is maintained on average every 250–500 hours (average minimum every 2 months). IronBlock provides a global infrastructure for regular and high quality maintenance through a licensed local service center.

Authenticity of the service history

Maintenance work information is recorded in blockchain, and detailed information is stored in a distributed file storage system. Thus, the history of machine maintenance is automatically stored during the entire operating time — even if owners and locations change.

application

In the long run, this technician solves the problem of trust and control over the condition of the machine, be it when renting or leasing machines. This solution enables leasing companies and machine owners to control the up-to-dateness of maintenance, to optimize costs while maintaining high quality standards and to create automated storage and maintenance reports.

By integrating with IronBlock Market or other platforms, the current owner can provide potential customers with access to additional technical information. With the ability to monitor the status of machines through technology, it may be possible to negotiate equipment or lease sales in advance — before the sale starts, while the downtime due to production equipment being offered for sale (at auctions and other off-line Platforms) are minimized. This platform will allow manufacturers and motor traders to supply and buy consumables and spare parts directly at the best price, thereby optimizing routine maintenance costs.

For more information about this project please visit our LINK:

Website : https://ironblock.io/en/
Bitcointalk : https://bitcointalk.org/index.php?topic=2445696.msg25045003#msg25045003
Telegram : https://t.me/ironblock_eng
Twitter : https://twitter.com/IronBlock_io
Facebook : https://www.facebook.com/IronBlock-180804052474286
Medium : https://medium.com/@IronBlock_io
My profile : https://bitcointalk.org/index.php?action=profile;u=1409779