NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

VLB can make your car repair more reliable using the blockchain

newsbtc
newsbtc
5 years ago
4 mins read
VLB tokens

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The National Insurance Crime Bureau (NICB) lists a number of scams and frauds that are rife in the automotive repair industry. These frauds transcend dangerous and life-threatening issues such as Airbag fraud, windshield glass fraud to bandit tow trucks that transport your vehicle to dodgy repair shops. There is no shortage of problems in the automotive universe, whether it is related to auto repair shops, auto-insurance or the supply-chain for parts and spares. One of the reasons that customers are suffering is the fragmented nature of the vehicle-related industries. All of the players involved operate in isolation and the customer and the industries themselves are subject to practices that have remained in place for years. An integrated system that acts as a link and binds the whole automotive experience in a chain has been missing, until now. The Vehicle Lifecycle Blockchain (VLB) claims to be the ‘ultimate blockchain fuel for the Vehicle Lifecycle Industry.’

What is Vehicle Lifecycle Blockchain (VLB)

Imagine an automotive ecosystem that encompasses everything from the time a vehicle rolls off the production line to the time it is junked in a yard. VLB aims to bring transparency and clarity to separate components in the automotive sector like manufacturers, repair shops, insurers, financiers and other operating participants. The blockchain will bind these participants and remove corrupt practices ensuring that customers get a fair deal. CarFix, which has a fully operational business in Russia and has serviced 250,000 customers with its reach of 500 repair shops are the force behind VLB, thus elevating it beyond just a ‘concept’. CarFix have earned the trust of major fleet owners like Uber and Fleetcor as well as a major car manufacturer. CarFix are also planning to extend their business model to the United States. The blockchain will ride on the shoulders of real-world customers and business owners, CarFix will be able to use their domain experience to carry out sales and marketing to help the system get a foothold till a point where it becomes self-propagating. CarFix’s business development team is working in this direction and is headed by the former head of supply at Uber. The blockchain will create a whole economic ecosphere which will be fueled by the VLB token.

VLB token as a fuel for automotive industry

The VLB token, which is based on Ethereum ERC-20 standard  is a utility token. This token will be necessary for various participants and users of VLB to get access to products and services. Paying participants would be able to use the VLB token to record transactions in the VLB as an example car owners would be able to record car purchase transactions or can access VLB records for ownership data. They can also track car maintenance and repair records. Similarly car repair shops can use these tokens to record car repair. There is a whole lot of use cases for the VLB token that have been clearly elaborated in a whitepaper that has been issued by them, which run the entire gamut of the automotive industry.The premise of VLB token is that the information in Vehicle Lifecycle Blockchain would be written through VLB tokens and eventually the entire industry would require this token to conduct routine transactions. VLB would first be deployed within CarFix’s own network and then move beyond it.

Ongoing VLB Token ICO

VLB tokens are being sold through an initial coin offering (ICO), which is ongoing at the time of the writing of this article. The ICO’s last date is December 17, 2017 and there are plans to raise 300,000 ETH through the token sale. 200 million tokens are up for sale during the ICO. Any unsold tokens will be liquidated. The token sale would be used to raise funds for the development of the Vehicle Lifecycle Blockchain. Bonuses are available for investors during different phases of the ICO and till December 2, 2017 there is a bonus of 195 VLB on purchase of 1 ETH worth of tokens. This means that instead of getting 650 VLB for 1 ETH,  an investor will get 845 VLB.

VLB

Instructions on how to participate in the ICO are available on the VLB website.

VLB token value driver for investor interest

As the blockchain system’s deployment picks up pace, the number of participants will increase. Each participant is obliged to spend at least 1 VLB token on every transaction they do on the system. According to the estimates made by CarFix, there are at least an average of 3.5 paying participants per each transaction and they project that demand for VLB tokens would rise by 16+ times in the next 5 years to 4.4 bln per year. This could potentially lead to appreciative forces on the token. The benefits of the blockchain itself are numerous and can potentially lead to revolutionising an entire sector with the emergence of a decentralised, trustless system in place. As an example insurance companies would be able to trust records and offer better claim management costs. They would also be able to offer cross-market services to other users of VLB. Manufacturers would be able to offer reliable maintenance records and make the warranty process more transparent and effective. Repair shops stand to gain as well as they get access to the blockchain and CarFix’s franchise network. VLB has the scope and the potential to bring a new age of trust in the automotive sector, where it has been eroded due to years of disconnect between the participants and malpractices that have disenchanted customers.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Jemlit vs Mystery Box World: Кой е “царят” на мистериозните кутии?

Мистериозните кутии превърнаха тръпката от изненадата във форма на онлайн шопинг, която комбинира хазартен адреналин и реални награди. От десетки...

Nikolay Aleksiev 4 days ago
SpacePay Takes the Lead

Best Crypto Presale in 2025: SpacePay Takes the Lead

Most crypto projects promise big changes but deliver little substance. SpacePay takes a different approach by solving real problems that...

ericdunne519 6 days ago
SpacePay Is Solving the One Problem That Held Crypto Back for Years

SpacePay Is Solving the One Problem That Held Crypto Back for Years: Presale Is On

For a long time, crypto payments have been hard to use. They were supposed to be quick and easy, but...

ericdunne519 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Why Smart Crypto Money is Backing SpacePay's $1.1M Presale Run

Why Smart Crypto Money is Backing SpacePay’s $1.1M Presale Run

ericdunne519 15 hours ago
青色のプレゼントボックスの上にあるBTC

Bitunixボーナスキャンペーン開催中|最大710ドルの獲得手順

rinsuzuki 3 days ago
Why SpacePay Is Tipped to Be the Favorite Crypto Coin of 2025

Why SpacePay Is Tipped to Be the Favorite Crypto Coin of 2025

ericdunne519 4 days ago

Premium Sponsors

Press Releases

  • 3 altcoinuri de urmărit în prima săptămână a lunii iulie 2025

    6 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    XRP versus Shiba Inu: Care criptomonedă are șanse mai...

    7 hours ago
  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    10 hours ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    10 hours ago
  • XRP versus Shiba Inu: Care criptomonedă are șanse mai mari să creeze milionari?

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.