At the current moment, automobile industry is represented with different markets, including auto repair, auto parts, car loans, auto insurance and car sales market. The developer of VLB - the CarFix company - chooses a new approach to cars and represents the world's first large-scale blockchain. It will be launched on November 27, 2017.
https://vlb.io/
VLB tokens are tokens based on the Ethereums ERC20 standard. Tokens will become popular with insurance companies, in the markets of car loans, car dealers, repair shops, factories for the automobile production and car owners.
It is very important that VLB tokens are "token-utilities" - and here is the reason. Usually, there are three main types distinguished in crypto economy: cryptocurrency, security tokens and utility tokens.
Cryptocurrency is electronic currency (bitcoin, for example), to which encoding methods are applied to regulate the generation of currency and check the transfer of funds.
Security tokens are a set of rights acquired by owners for managing business shares, cash flows from a project or a predefined return profile from a structured tool and other ways of participating in business activities. According to security standards, any token that cannot pass the Howey test should be considered unsafe under the Exchange Security Act 1934.
https://vlb.io/
Utility tokens clearly differ from simple cryptocurrency and security tokens.
Utility tokens that grant a license or the right to access the system to use it and its results should not comply with the security definition. The utility token is a kind of "key" for unlocking the logon to services based on the blockchain technology. For example, these utility tokens can be used to create transactions in the blockchain or to open an access to programs or to purchasing services or products that are sold to gain and sale utility tokens.
It should be noted that the block of Lececycle Blockchain platform will be decentralized and distributed. To achieve decentralization, it is required to increase the number of participants in the industry who have access to the network and generate transactions in the blockchain. The developers plan to improve the blockchain system and achieve decentralization in two stages. During the first stage of the blockchain deployment, CarFix will act as a developer to ensure that the minimum number of blockchain users is reached before proceeding to stage 2 when the blockchain is distributed outside the CarFix server.
It is planned to release 250 million platform tokens, with 200 million to be used during the ICO sale. Further releases of the tokens are not planned. Tokens that will not be sold during the ICO, are subject to destruction. VLB tokens will be used by participants to execute operations in the blockchain.
The platform will create significant value for a wide range of automotive industry participants who will generate the demand for VLBs and acquire them through cryptocurrency exchange. The list participants is the following:
- car owners (either "non-paying participant" or "participant of payments" when buying vehicles);
- corporate car park management companies (either "not paying participant" or "paying participant" when buying vehicles);
- car repair shops ("participant of payments");
- manufacturers of spare parts (OEM-manufacturers) and distributors ("participant of payments");
- manufacturers of vehicles ("participant of payments");
- insurance companies (the "participant of payments");
- car loan companies ("participant of payments");
- government agencies that maintain a record of cars and control emissions and other technical requirements ("non-payment participant").
VLB tokens will be evaluated on the basis of the demand level, supported by the scale of the platform's popularity among the industry participants. This demand is aimed at stimulating the turnover of VLB tokens through the system. However, since VLB token payments will represent a particular transaction value for bidders, the VLB token evaluation will be at the level of maximum user acceptance.
The life cycle of a vehicle block is divided into several stages. During Stage 1 of the deployment, the CarFix blockchain will provide VLB tokens from the tokens reserved for network development to the payment participants within their own ecosystem. These VLB tokens will be used when paying blockchain stages on the blockchain. Initially, CarFix will play the role of a certifying node. For the purchase of VLB tokens, ETH is accepted.
Website: https://vlb.io/
White Paper: https://vlb.io/Whitepaper.pdf
Author: https://bitcointalk.org/index.php?action=profile;u=980049