About AlphaCar
AlphaCar is committed to developing a Community Token Economy (CTE) for the global automotive industry. All of the automotive industry’s transactions can be recorded on the blockchain. Service providers and consumers will collectively build up a transparent token economy. Each member in the community can be rewarded with the ACAR token. All the community members will enjoy a wide range of trustworthy services, such as shared car design, shared car R&D, private car sharing, usage based insurance, car maintenance and repair, car trade and car finance. The 10 trillion dollar global automotive industry will be transformed from a lemon market to a transparent and trustworthy market.
Based on blockchain technology, IoV, Big Data and AI, AlphaCar will create automated car and evaluation records and evaluations that can not be tampered with or removed, and optimize the efficiency and quality of automotive industry services. AlphaCar will provide all parties with an untrustworthy Token Economy.
Blockchain Technology
The blockchain technology provides that transparency and the records are permanent. In other words, any car in the system will have its own permanent record from the time it enters the system, with all its repairs and accidents, paint jobs, etc. The records cannot be changed, cannot be hacked or manipulated. Another advantage of the system is that a lot of fees and expenses such as seller’s sales, inspection, operations personnel, the buyer’s testing personnel, and third-party testing agencies get paid lightning quick and the system works much better than the traditional transactions system, letting you get a hold of your car quicker than anything.
Since the platform will be on Ethereum chain, the smart contract can be used and this can help with conflict resolution. The smart contract system enables the transaction only when certain conditions are met, and this can be used to make sure that everyone does their part when the time comes. If there are problems with the car, that comes out down the road, the smart contracts can be adjusted to fix that problem, and release some of the money later.
Great Data with IOV
IOV, Input/output (I/O) Virtualization, is technology that uses software to abstract upper-layer protocols from physical connections or physical transports. This technique takes a single physical component and presents it to devices as multiple components. Because it separates logical from physical resources, IOV is considered an enabling data center technology that aggregates IT infrastructure as a shared pool, including computing, networking and storage.
It is mean that the AlphaCar platform has the ability to connect to large equipment and the ability to process data in real time, which supports personalized rates for car insurance and the implementation of shared use of private cars.
Network Effects
The network effect refers to the "Metcalf law" proposed by Internet pioneer Robert Metcalfe. The law states that the value of the network is proportional to the square of the number of network members. AlphaCar values will increase exponentially in proportion to the number of community members.
AlphaCar Advantages
Design Together
Designers around the world are collectively designing new cars and sharing giftsShared R & D
Engineers around the world collectively develop new cars and share giftsShare the car
Distribute cars safely through blockchain and IoV technologyInsurance Based Usage
UBI to appreciate good driving behaviourCar Care & Repair
One stop service network survival of the fittestCar Trade
Blockchain, large transparent data ratesCar Financing
Large Blockchain data provides effective risk control without trust
ACAR Token
In addition, AlphaCar will issued its cryptocurrency token, namely ACAR. The tokens will be derived in ERC20 standard. ACAR token is a utility token, which might be used to acquire providers within the AlphaCar CTE. The number of tokens is 10 billion and can by no means be over-issued. The number of tokens may even lower due to the burning mechanism, where in no much lower than half of the project’s revenue shall be used to acquire back and burn the ACAR tokens. The tokens will be distributed in the following manner:
- 40% Token Sale
- 20% Community
- 10% Support Ecosystem
- 20% Team
- 10% Adviser & Commercial Cooperation
For further information about AlphaCar, you can visit the following links:
Website : https://www.alphacar.io/
Whitepaper : https://www.alphacar.io/r/project/file/AlphaCar_WhitePaper_EN.pdf
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