Under the partnership, CarBlock, will provide access to detailed vehicle data to YourMechanic, which will enable them to offer a competitive quote and provide better service. The circulation of car data on the blockchain is set to disrupt the entire Connected Car industry.
Through hardware enabled data collection and smart contracts, CarBlock eliminates unnecessary conflicts, any ambiguity in responsibilities and the loss of potential property for P2P rental transactions.
CarBlock also provides greater safety and ease of use for P2P rental applications.
Use cases
Auto insurance
Auto insurance companies can boost their competitive edge by using CarBlock data to optimize their premium modeling and offer more tailored and flexible packages to customers. Car owners can also enjoy better pricing by authorizing insurance companies access to their car’s data and pay with CAR tokens to get their insurance coverage.
Maintenance shops
Car maintenance shops can acquire new customers more effectively by joining the blockchain network. Shops can push their info via a smart contract to drivers that are experiencing a vehicle malfunction within a certain geographic radius. Drivers can also instantly share critical information with service providers about their vehicle issue in order to get better service. Drivers simply transact with CAR tokens to send the data to service providers.
Used car dealerships and car reports
The immutability of the data on the CarBlock blockchain allows for the creation of trustworthy vehicle reports for used car transactions. Data owners can earn CAR tokens in exchange for granting third parties access to their data. Used car buyers and sellers can form better deals and enjoy safer transactions, knowing that the vehicle’s conditions have been verified with real data and smart contracts.
CAR tokens
A total of 1.8 billion CAR Tokens and no additional tokens will be created. It is the native currency of the CarBlock ecosystem. It can be earned and spent in the following scenarios.
About YourMechanic
YourMechanic was founded in 2012 with the goal to make car repair and maintenance affordable, convenient, and transparent. Dealing with car problems is not only a time-consuming and frustrating experience, it is often expensive. Car owners often lack visibility regarding the quality of mechanics or fairness of price. At the same time, the mechanics who put in the hard work fixing cars make very little money at repair shops (less than 20% of what consumers pay), and rarely get the recognition they deserve. The company offer services at the convenience of your home or office, 7 days a week, and provide fair and transparent estimates upfront. YourMechanic is on a mission to build the most convenient and trusted car repair service. All the pricing is calculated by the Fair Price Calculator, which is based on industry standard labor times to perform services. This ensures that car owners are paying a fair price without the need to negotiate or shop around. The services provided by every mechanic in the platform comes with a 12-month or 12,000-mile guarantee and a $1MM liability policy.
nonda
It is the parent company of CarBlock. The company provides industry-leading connected car devices and app experience to drivers. nonda products have been recognized with prestigious iF and Red Dot design awards.