Vehicle Lifecycle Blockchain. VLB ICO rating – not rated.
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Ended ICO : 12/03/18 – 09/04/18
About VLB ICO (token sale)
The VLB Token team is launching an ICO in order to build a blockchain for the Vehicle Lifecycle Industry, influence VLB participants’ existing business models to achieve critical adoption rate among Industry Participants, and ultimately make the Vehicle Lifecycle Blockchain open, independent of Initial VLB participants, and propagated globally.
The industry players that form the Vehicle Lifecycle Industry are faced with operating and customer services sciences that lead to overestimated prices for services and unnecessary costs, estimated at about $100 billion a year according to research.
Integrity and up-to-date records are the main aspects of interactions among the participants of the Vehicle Lifecycle Industry. Linking transactions and relationships between the automotive production industry, the auto insurance industry, the spare parts industry, the auto repair industry, and beyond provides for a single cohesive ecosystem that reveals tremendous opportunities to reduce cost to consumers and increase profits for businesses by rewarding efficiency, transparency and quality and by discouraging price manipulations and market abuse.
Vehicle Lifecycle Blockchain (VLB) is a comprehensive decentralized registry where information about vehicle ownership, insurance history, repairs, and maintenance records will be recorded through the use of VLB Tokens. VLB Tokens are utility tokens that will be issued in accordance with the ERC-20 standard. VLB Tokens will be used by Data Owners to record transaction entries on the blockchain as proposed by Industry Participants (Data Contributors), and to distribute commissions paid to Miners by parties to a transaction, for processing such transactions.
Vehicle Lifecycle Blockchain will create a seamless decentralized platform of all records related to Vehicle Lifecycle from the production floor to the junk yard. We estimate that global and regional market participants will have more than $35 billion woth of potential benefits per annum from the use of VLB Tokens.