The automotive industry is one of the world’s most technologically advanced production sectors, and its associated markets are incredibly broad, ranging from vehicle sales to auto insurance to car repairs, and the list goes on and on. However, these markets are still highly segregated, leaving the participants to deal with extreme inefficiencies that lead to excess operating costs and inflated prices.
Uniting these markets into a cohesive blockchain-based ecosystem exposes exciting business opportunities and streamlines industry practices, leading to significant costs and risks reduction not only in the auto industry, but in any individual activity or business involving auto transportation.
The Vehicle Lifecycle Blockchain (VLB) is a decentralized platform aimed to encompass business and individual interactions between all parties involved in the automobile value chain, and to increase profit margins throughout the industry by rewarding fair practice and transparency in service delivery. Upon widespread adoption, VLB will save billions of dollars a year globally and, more importantly, hundreds of thousands of jobs in the auto industry, while making cars safer and more reliable.
VLB founders plan to promote its adoption with utility tokens based on ERC20 protocol. Aside from being openly tradable, the VLB Tokens will be used by insurance companies, auto lenders, dealers, repair shops, and car buyers to access and record transactions in the Vehicle Lifecycle Blockchain. VLB Tokens’ turnover through the system will increase over time.
VLB Token Sale
175 million VLB Tokens will be issued, of which 30 million will be available for public sale during the Series A funding round, and other 115 million will be privately distributed during the Series B/C rounds.
The Series A round comprises of private pre-sale, which started on the 17th of December, 2017 and is set to end on the 5th of February, 2018. he public pre-sale, starts on the 5th of February and it will end on the 12th of March, 2018.
The main ICO starts on the 12th of March and runs through the 9th of April, 2018. Soft cap for the round is set at $4 million, whiles the hard cap is set 3 times higher at $12 million.
The funds raised in the Series A round will be used to implement the Alpha and Beta versions of the platform within an existing ecosystem provided by the partners in the automotive industry.
The tokens reserved for the Series B round will be distributed among institutional investors. The funds raised will be used to facilitate the achievement of a certain critical mass of paying participants and recorded transactions, allowing entry to new markets.
Lastly, in the Series C round, the remaining tokens will be distributed among the industry participants to be used within the blockchain ecosystem. At this stage, the founders plan to focus on further decentralization and expansion, granting more businesses ‘permissionless’ access to the platform and facilitating the development of VLB applications.
Therefore, the Series A round will be the only opportunity for an individual investor to participate.
For more details, follow the VLB ICO here.