SparesHub's Global Blockchain Platform for the Automobile Industry and the Token Generation Event

SparesHub has decided to use blockchain technology in automobile industry to solve the problems of counterfeit parts and to execute faster and safer transactions like parts and services sales, warranty claims, and parts recalls.
 
PUNE, India - April 6, 2018 - PRLog -- Blockchain is a very promising technology. This is because it is decentralised, it establishes trust among all the participants, it allows execution of smart contracts and it is immutable. With these qualities and attributes, blockchain can be applied to a variety of industries, government projects and other undertaking; even NGOs.

SparesHub has decided to use blockchain technology in automobile industry to solve the problems of counterfeit parts. We are also using blockchain technology to execute faster and safer transactions like parts and services sales, warranty claims, and parts recalls. SparesHub is building a blockchain-based platform for the global automobile maintenance industry. The platform would store the information of the movement of automobile parts through the supply chain on an immutable blockchain. The automobile part manufacturers, distributors and retailers would be part of this blockchain. Car owners can check the authenticity and complete provenance of the car parts they buy on SparesHub's blockchain platform. This will help fight the multi-billion dollar fake and counterfeit automobile parts industry throughout the world. Apart from this, customers will also be able to buy car parts, book car services from workshops and avail services from multiple marketplace participants on the same platform. Companies would also integrate their individual customer loyalty programs on this platform.

All automobile ecosystem participants like car manufacturers, OEM part manufacturers, aftermarket replacement part manufacturers, part distributors, part retailers, other supply chain participants, car insurance companies, used car sellers, car scrap dealers, car recyclers, car service aggregators, workshops, service centres, accessories suppliers, car modifiers, smart car platform owners, and car owners would be participants of our blockchain platform on a global scale. These participants would execute millions of transactions among themselves, and share data safely, securely and with trust on our blockchain platform. It would be a complete ecosystem for automobile maintenance at a global scale.

There would be a large number of transactions on the platform like the transactions between part manufacturers and subsequent supply chain participants. There would be transactions related to parts and services purchased, insurance purchase and claims, warranty claims and parts recalls. Part manufacturers would also buy unique part identification codes from SparesHub and customers would use the same codes to check if the parts are original or not. We have decided to implement and use special SparesHub Tokens to enable transactions in the internal economy of the platform. SparesHub token would be the internal currency in our global automobile ecosystem. SparesHub tokens would ensure that the transactions happen fast, transactions happen at zero transaction fees, are stored in the immutable blockchain securely, and they can integrate tightly with smart contracts. Smart contracts would trigger automatic payments to parties based on the completion of the actions mentioned in the contracts.

SparesHub is undertaking the token generation event for the SparesHub Tokens. This token generation event would help SparesHub raise funds for the development of the blockchain platform explained above. The investors of SparesHub token would benefit from the capital appreciation / price increase of the token while the token is used on the blockchain platform. SparesHub would be generating 500 million tokens only once and no more tokens would be generated later in the project lifetime. SparesHub would be a one of it's kind platform throughout the world. With almost 1.7 billion car owners throughout the world, the demand for SparesHub tokens is expected to increase exponentially. The rise in price due to the increase in demand would benefit the SparesHub Token investors. To make the deal even sweeter for the investors, we are committed to share 25% of the net profits from the company operations as dividends to the token holders for the first 5 years.

Our target is to raise $25 million using the SparesHub Token Generation Event. We would be conducting a public pre-sale for the Tokens starting on 10th of April 2018. One SparesHub token is priced at $0.1 during the token sale. There is an attractive discount structure available for the early backers of the project and institutional investors. We are confident our blockchain platform will revolutionise the global automobile maintenance industry and we invite you to be a part of it. To know more about our platform and our token visit https://token.spareshub.com or write to tokensale@spareshub.com.

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Tags:Blockchain, Ico, Automotive
Industry:Automotive
Location:Pune - Maharashtra - India
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