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Hey guys,

I’ve got an interesting new project to review today called AlphaCar, which is looking to revolutionise the outmoded automotive industry through their innovative blockchain-powered platform.

Quick disclaimer: this project, like all I review, is new to the scene and is still under development so please always do your own research. Also remember this is my opinion and not financial advice; my content is for educational and entertainment purposes only.

Let’s jump in.

AlphaCar has a vision to make huge changes to the automotive industry. Their blockchain-powered ecosystem will leverage IoV (Internet of Vehicles), AI, and Big Data to create a secure, automated, and constantly updating record and evaluation of cars in the AlphaCar network. These records are not only fundamentally secured by blockchain but will also help to make the services of the automotive industry more efficient and beneficial all round.

BLOCKCHAIN BASED SOLUTION

Adopting a community-powered token economy, the project will transform the currently fractured worldwide automotive industry into a global market- where all parties would be at once network contributors and consumers. AlphaCar’s vision is to place all automotive-related records, such as transactions and evaluations, on the blockchain; this way these records will be fundamentally tamper-proof, and the automotive industry can be made more efficient, transparent and fair.

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SPECIAL FEATURES

As a platform based on cutting edge technology, AlphaCar houses a number of notable features and attributes.

• Network Effect; as famously stated by Robert Metcalf, a network is only as valuable as the square of the number of its members. As a result of its utilisation of blockchain technology, the AlphaCar platform will grow in value as the community expands, and houses a useful feedback mechanism to aid in fuelling adoption and community growth.

• Collaboration between Blockchain and Automotive industry; The automobile industry is no doubt a thriving one, yet dishonest actors and inefficiencies make it problematic. Blockchain is capable of facilitating solutions to some of the many problems which disrupt the industry. By merging blockchain and the automotive industry, AlphaCar intends to apply the benefits of security, transparency and efficiency of blockchain technology to this outmoded and fractured industry. Blockchain technology will essentially ensure all industry-relevant records can neither be destroyed not deleted- and accessed anywhere, by anybody, globally at any time.

• Big Data Network; AlpharCar hopes to house a large-scale data technology which will show real-time data related to driving sessions, information regarding drivers and so forth. This data will be utilized for seamless and efficient analysis to enable automotive companies to offer transparent, comprehensive and efficient after sales services to their customers.

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• Big Data with IOV; The AlphaCar ecosystem will also feature large-scale global connection capabilities as well real-time data processing abilities which will not only be private car insurance pricing compliant but will also support the implementation of private car sharing.

TOKEN SALE DETAILS

AlphaCar Project will use a utility token with the token symbol ACAR, which will be used to purchase services within the platform. 10 billion tokens are due to be distributed thusly: 40% are reserved for early token buyers; 20% are assigned to both the Community Members Reward and the Project Team; and 10% are allocated to each the project’s Advisors and Commercial Cooperation, and to support the ecosystem.

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CONCLUSION

The automotive industry and Blockchain sector are both important parts of the world’s economy in their own right- the automotive industry due to its massive size and consistent demand, and blockchain due to its disruptive capabilities. Combining these arenas provides opportunities in the automotive industry never before possible, essentially making the space more transparent, efficient and fair.