A few months ago we launched CarTaxi, the first global vehicle towing service on blockchain. Briefly about the product: the platform unites all tow truck companies into one network. Drivers download a free application and with its help (similar to Uber) they order a tow truck. The greater the scope of the project, the more universal CarTaxi becomes. In the first two months we got some great results, and have captured 20 Russian cities. In addition to Moscow and St. Petersburg, CarTaxi operates in Kazan, Ekaterinburg, Vladikavkaz, Krasnodar, Sochi, Novosibirsk, Samara, Rostov-on-Don, Voronezh, Veliky Novgorod, Volgograd, Stavropol, Bryansk, Kaluga, Tula, and this is just the start.
Why did we create CarTaxi and what we will gain from this?
The size of the world vehicle towing market is estimated to be over $ 26 billion. The global increase in the number of cars also means the growth in the number of accidents, breakdowns and maintenance in this giant market. There is high demand for quality and efficient tow services that ease traffic, observe the rules, and guarantee the satisfaction of drivers.
Before we had the idea for CarTaxi, our QA engineer Valera once stalled on his Priora while he was on his way from his hometown Voronezh to St. Petersburg, somewhere near the village of Teploi. He was alone in the uncomfortable -10 ° C. He had a choice — walk back to Voronez, not really an option, since he had to get to work. According to the GPS there was at least 900 km to go. After a few hours of searching for help, luck smiled at Valera in the form of Christina, who was driving by, and agreed to pull his car to the nearest service station in Pervomaysk. Six months later she accepted his marriage proposal, heart, and a new Toyota. I must admit, we haven’t met such lucky people as our Valera since then. And usually the incidents with a stalled engine do not turn into a gift of fate, but more along the lines of fallen through deals, being late to a friend’s wedding or a date, even life or health threaten situations.
Now, maybe not so romantic, but without unnecessary stress, even if you are stuck near a long lost village, or traveling from Sochi after your vacation a tow truck will pick you up, and deliver your car to a convenient for your location. The application makes it easy to enter the chosen destination, car make and model selection, if there are any blocked wheels, and type of payment. The cost is immediately calculated for the completion of the order. On the application map you can see where the free tow trucks are located. They, in turn, will receive the order through the application, and if it matches the trucks capabilities, accept it. The service is not expensive. Due to the fact that the program is looking for the nearest tow truck to the location, you do not pay for distance the truck has to travel to the pickup location.
In the towing market, which was previously uncoordinated, systematization and automation appeared. CarTaxi already registered over 1,500 tow truck companies, only in Russia. But this is not enough for us. The main challenge in the 4th quarter of this year is the activation of blockchain and plans for expansion into China and the US. Now we are preparing the infrastructure for launching the service abroad.
Blockchain and smart contracts
In the last quarter of 2017 on the CarTaxi platform, we plan to activate blockchain technology based on the Ethereum smart contract. Blockchain necessary in order to simplify, speed up and make all orders as controlled as possible upon entering the global market. With the help of a smart contract we are going to:
• register service providers and partners;
• register customers (car owners);
• create orders and manage their life cycle;
• manage payments of providers and partners;
• make the company’s activities transparent to investors.
Each participant will be able to see all the necessary data through the smart contract interface, for example, the beginning and completion of transportation of the car or rewards transfer. In each order the smart contract will take into account the client’s coordinates, the parameters of his car, the estimated arrival time of the tow truck.
If the tow truck could not arrive within the specified time, there are penalties. At the pickup location, the service provider checks the order data and with the help of the application inputs any damages to the vehicle. If this data does not match previously entered data by the driver, the smart contract will not allow you to proceed to the next stage — loading the car. When the order is completed, the program analyzes the final variables and calculates the cost of the service.
A very important part is the detailed control of the order fulfillment and insurance. CarTaxi plans to provide a service for transporting cars for long distances, between cities and countries, in complex logistic chains. For example, today, you can bring a car from Stavropol to St. Petersburg by using CarTaxi.
Investments
Starting August 30th CarTaxi will present an ICO. We are issuing dividend tokens CTX and place them on the exchange in 2 rounds.
To invest in CarTaxi’s ICO is at the very least interesting, because the service already works successfully and shows a high potential for expansion in the market. This cannot be said about all the projects that are issuing an ICO.
CTX tokens are of a combined type. This means that investors will have two types of income: dividend payments and income from the growth of market value of the token due to planned buybacks on the exchanges. Dividends will be issued to token holders once a month. The first payment is on September 15, 2017, for those who will have time to acquire tokens in the first stage of the ICO. Based on the target numbers for the revenue of the CarTaxi project, the dividend share of investors’ income by 2020 will be more than 75 million USD (152% of the investment).
The upcoming first stage of the ICO will last from August 30 to September 19, 2017. The second stage of the ICO is scheduled for September 29 — October 29, 2017. Car Taxi has set a total of 500 million tokens, of which 12.5 million will be available for pre-sale, and the rest during the ICO. Already, during the pre-sale period, investors will be able to purchase Car Taxi (CTX) tokens with a bonus of 45%.
The smart contract provides for the basic mechanisms of the DAO: the voting of tokens for the distribution of the company’s profits. Blockchain accelerates settlements with token holders and creates transparent mechanisms for controlling the company’s operations.
The revenue from the sales of tokens will be invested into tow truck services. Car Taxi plans to activate blockchain technology in the fourth quarter of 2017. The next stage is the expansion into US and China in 2018, and then into Europe in 2019. With opening of offices in India and South America, by 2021 the platform will be available worldwide.
