How do you like that truck going with the alpha car logo?

When you are purchasing a second-hand car, you can never be sure that the car is reliable, it had no major accident, or it is a lemon? The billion Chinese can definitely use such a corporation, and I am pretty sure they will be able to serve the World once they have their technology up and running in China as this is a Chinese company.

The company has about twenty years background in the Chinese automotive market. Bill Deng, the founder of AlphaCar, has been in the automotive industry for several years and the rest of the team has sufficient technical knowledge and experience to carry out the blockchain project. Bill Deng is the former CIO of Chery Group, which is a very extensive car company. He is also one of the Ph.D. students of Prof. Vernon Smith, a Nobel Prize winner in economics. Professor Shengli Zhang is in the crew and he is a top expert in the blockchain technology, which gives me trust that this platform will be very successful. The AlphaCar project formed a connection with Go2Solutions company, which claims that it provides the future of safer driving powered by smart solutions. This insurance firm has been wanting to get into the Chinese market and working with AlphaCar will provide not only that, but it will also assist them to get into blockchain technology in the Chinese market. Blockchain technology is a haven for insurance applications because the smart contract can be used and everything can be streamlined. In the future, there may even be a peer to peer insurance, as people may bestow the risk, avoiding the middleman, namely the insurance firms. With the blockchain technology, insurance policies will be solid as a rock, and they take maybe seconds to minutes to process. autonomous transports, drivers, insurers, and retailers alike can benefit from these technologies and the AlphaCar program. In addition to insurance, people will be able to fund other people through the blockchain technology when they want to buy a car. This means that common people will be able to act like a bank, and this will be a trustless system thanks to smart contracts.

So, do you think you will be able to get such a car if you get one on the blockchain? Let me know in the comments.

When you are purchasing a second-hand vehicle, you can never make sure that the vehicle is great, it had no real mishap, or it is a lemon. You can continually carry a workman with you, however, that is not an assurance that he will know everything and doing all that is exceptionally badly designed. The second-hand vehicle business is exceptionally emotional, and it is hard for a common buyer to research and manage every one of the components changing the cost. The vehicle may have a wide range of mishaps, fixes, or support cycles, the proprietor may have missed some required systems of support, could be concealing a portion of the real fixes or mischances. Or on the other hand, he could basically be a nice person and may offer his vehicle at the reasonable cost it merits. In any case, it is a magnificent practice to know the vehicle’s history from both sides. The blockchain innovation gives that straightforwardness and the records are lasting. As it were, any vehicle in the framework will have its very own lasting record from the time it enters the framework, with every one of its fixes and mishaps, paint occupations, and so forth. The records can’t be changed, can’t be hacked or controlled. Another preferred standpoint of the framework is that a ton of charges and costs, for example, vender’s business, review, tasks staff, the purchaser’s trying faculty, and outsider testing organizations get paid lightning brisk and the framework works much superior to anything the conventional exchanges framework, giving you a chance to take a few to get back some composure of your vehicle speedier than anything. Since the stage will be on Ethereum chain, the brilliant contract can be utilized and this can help with compromise. The brilliant contract framework empowers the exchange just when certain conditions are met, and this can be utilized to ensure that everybody does their part when the time comes. On the off chance that there are issues with the vehicle, that turns out not far off, the brilliant contracts can be changed in accordance with fix that issue, and discharge a portion of the cash later.

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Responses

  1. Infosion

    I think this is really a nice sounding project. Has a lot of value if used right. They have to show that it really works and most people benefit from it, then I think this is a perfect example solution for blockchain. Because like you explained, everybody knows about the different types of people who sell or buy used cars. This system sounds like it could be much more “fair” this way. But to really do this right there’s got to be really also a big amount of input data that is verified and true.
    So all in all a promising idea for a project. The founder seems like he is capable of some business adventure like that, so I`m curious to see how this will develope further.
    Thanks for this nice article!

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  2. Nicholas

    Im an alpha. So all of my cars are alphacars… Even if i have just one car. A really old one 😀

    Related comment: the idea, merge the car-business and blockchain, is not new, but we see just a few attempt, for example the VeProov, or the experiment between BMW and Iota.
    We need more. More development and more competition for the better services.

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