A Brief Analysis of Top 5 Blockchain Projects in Automotive Industry

Jeff
Jeff
Sep 4, 2018 · 6 min read

It is much clearer that blockchain technology will play a more important part in the future development of human society. Almost in all aspects of daily life, blockchain technology can bring people with unique benefits. So far, we have already seem blockchain projects making subversive impacts on industries such as health, education, business, gaming and even agriculture. Today, we are going to take a look at top 5 blockchain projects in automotive industry.

In general, there are 5 major blockchain projects worldwide in automotive industry, namely CarBlock, XAIN, Alphacar, TFchain and Engine.

1. CarBlock

Issue Time:07–03–2018

White Paper:https://www.carblock.io/assets/file/whitepaper_en.pdf

Official Website:https://www.carblock.io

Evaluation:80,000 ETH

CarBlock is the world’s first blockchain-based transportation data protocol built on data collected by smart devices and other IoT solutions. Through data encryption and a blockchain-based marketplace, car owners can have 100% control over the data they generated, grant access of their data to businesses with a fair reward, and enjoy better products and services tailored to them. Through lowering the barrier of data acquisition and ensuring its fair use, CarBlock will facilitate a more data-driven development approach, boost innovation and revitalize a trillion dollar automotive market.

CarBlock has amassed over 400,000 car owners globally through its partnership with Nonda, a leading connected car smart devices company in the United States. Being the best blockchain project in the automotive industry and a working prototype ready to launch, CarBlock has gained tremendous support from leading institutional investors like Fenbushi Capital, DHVC, Ontology, TimeStamp Capital, Bits Angel, Bibox, Consensus Labs, Fundamental Labs,etc. CarBlock is the only blockchain company, alongside with major car companies like BMW, GM, Ford and Renault, as a partner of MOBI, the first blockchain alliance in automotive industry designed to set blockchain standard for automotive industry.

Comments: CarBlock has the lowest evaluation among all the other projects. Also, their weekly report are updated regularly every 2 weeks. The development is on the right track and follows their roadmap.

To date, CarBlock has established partnerships with major Auto manufacturers, insurance companies, auto service providers, research institutions and innovative companies around the world to explore opportunities for blockchain technology in the automotive industry. Couple significant partnerships and innovative services will be rolled out soon to bring real benefits for ordinary people from adopting blockchain technology.

2. XAIN

Issue Time:N/A

White Paper:https://www.monoico.com/wp-content/uploads/2018/05/XAIN_Yellow_Paper.pdf

Official Website:https://xain.io

Evaluation:N/A

XAIN offers a universal access-control protocol for machine networks in the mobility sector.

  • Leverage blockchain technology to increase trust & transparency between users and enterprises
  • Grant users full access control over their machine and device permissions
  • Allow for seamless and secure 3rd party service integrations into machine networks

Comments: XAIN focus more on the machine side. Rumor has it that XAIN has partnered up with Porsche, Volkswagen etc.. However, no information and update about its financing and progress development recently.

3. Alphacar

Issue Time:N/A

White Paper:https://cdn.alphacar.io/files/terms/AlphaCar_WhitePaper_EN.pdf

Official Website:http://www.alphacar.io

Evaluation:130000 ETH

Based on blockchain, IoV, Big Data and AI technologies, AlphaCar will make car transaction and evaluation records impossible to be tampered or deleted,and optimize the automobile industry efficiency and service quality. We will provide all parties with a trustless community Token Economy.

In the AlphaCar auto industry token economy, the global auto industry will be transformed to be a trustless market from a typical lemon market. All parties in the AlphaCar token economy will be both consumers and stake holders. The network effect will make the value of the AlphaCar community grow exponentially.This positive feedback mechanism will bring about rapid growth of community. This paradigm shift will create a monumental wealth spillover effect, similar to the huge energy release from the process of nuclear fusion. The community members will share the immense wealth generated by the paradigm shift.

Comments: Alphacar has issued its Token ACAR and now is undergoing its ICO. Bascially, it will raise 52,000 ETH, with a valuation of 130,000 ETH. By combining all the advanced technologies such as blockchain, IoV, Big Data and AI technologies, Alphacar aims to boost and optimize the automobile industry and service quality. A very promising project but needs time to prove its value.

4. TFchain

Issue Time:N/A

White Paper:http://tfcoin.io/pdf/TFwhite_cn.pdf (Only Chinese Version)

Official Website:http://tfcoin.io

Evaluation:N/A

Comments: TFchain launched a mining app, claiming to have more than 20,0000 app users. It promised to be listed on exhanges on May, but till now still hasn’t been listed on any exchanges yet. TFchain issued a token named TF. No other information about its financing and recent development.

5. Engine

Issue Time:03–2018

White Paper:https://white-paper.oss-cn-beijing.aliyuncs.com/v.3.0.0/Engine%20V.3.0.0%20-%20%20English%20Version.pdf

Official Website:https://www.egcchain.com

Evaluation:120,000 ETH

Engine aims to build a robust and dynamic automotive data ecosystem, and to exert the power of the entire society to maintain data, reduce the data cost effectively while solving data ownership and improving the efficiency, and enable global users to share and access data on an equal footing.

Comments: A very promising domestic blockchain project in automotive industry. Some blockchain KOLs are promoting this project. Engine raised 30000 ETH and spent 46 million RMB to be listed on Huobi. Their Token is called EGCC.

In conclusion, by collecting and comparing all the information about these 5 major blockchain projects worldwide in automotive industry, investors should have a better understanding of each project above and know which is the best to invest for the future. We hope that project sides will develop projects from the interests of the masses and work together to create a better car data ecosystem.

About CarBlock

CarBlock is the world’s first blockchain-based transportation solution built on data generated by smart devices. This circulation of car data on the blockchain is set to disrupt the entire connected car industry. You can find out more information about CarBlock, its partners, and current happenings at:

CarBlock official website: CarBlock.io

CarBlock Twitter: https://twitter.com/carblock_io

CarBlock Medium: https://medium.com/carblock

CarBlock Telegram Group: https://t.me/CarBlockGlobal

CarBlock Wechat Official Account: CarBlock

CarBlock Reddit: reddit.com/r/CarBlock_io/

A Global Transportation Data Protocol with Decentralized Applications - By putting data back to the hands of the car owners, CarBlock is set to facilitate a more date driven business and build a decentralized ecosystem for future transportation industry.

Jeff

Written by

Jeff

CarBlock

CarBlock

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