The auto industry is turning to blockchain to help manage a huge, complex ecosystem for the benefit of manufacturers, consumers and other market participants. At a time when the industry itself is changing, integrating processes within varied services and shop level operators seems pretty difficult. Blockchain technology offers the solution to this problem.
VLB uses blockchain technology to cut costs and inefficiencies in the auto industry for both commercial participants and individuals. The benefits for all participants are dramatic, especially in a world where car ownership and use is changing.
By using this, car owners obtain access to better prices for repairs, maintenance, and insurance. They also have access to crucial information about second-hand vehicles registered on the platform that they might wish to purchase (including repair and accident history). VLB’s CarFix network already consists of 10 spare parts distributors, more than 500 repair shops, with 50,000 customers and 250,000 repair jobs already performed via the launched CarFix platform.