CarFix ecosystem is currently comprised of 280 fully integrated repai rshops (with 500+ onboarded repair shops in total), all key spare parts distributors, dealers of most popular mass-market car brands, a major insurance company and the leading Russian auto lender. This ecosystem is continuously growing and evolving to accommodate the optimal supply and demand equilibrium along the entire vehicle lifecycle.
The existing CarFix ecosystem and software systems present a perfect staging ground to develop and deploy the blockchain technology described in the whitepaper. CarFix’s current business model, which is driven by the notions of transparency, efficiency and fair pricing, will be further empowered by the blockchain’s core premises ofd ecentralization and immutability of records. Implementation of multi-signature authorization mechanisms to verify transactional integrity will further morph the interrelationships between Market Participants into a single cohesive “Car Lifecycle Industry”.
Proceeds from the ICO will be used to develop and build the blockchain technology specifically tailored for the Vehicle Lifecycle Industry. CarFix current business model will be used to test the blockchain and subsequently proliferate its implementation beyond CarFix globally.