CarTaxi Introduction and ICO Information
What is CarTaxi
CarTaxi is a blockchain platform that is based on Etherium. It offers automated service for car service. The tow trucks are tied to an online network, which provides fast and efficient assistance on the road.
Whitepaper is publicly available at their webiste https://cartaxi.io/.
The problem it is solving
The problem with current state of vehicle towing businesses is that they have not been yet automated. It is mainly based on old methods involving much work from people. Because they are rather small businesses, you have to look for a local towing company in each city you visit. The response time also remains questioned.
Solution it is offering
CarTaxi is already a working product for vehicle towing and transportation. It is a global solution that is accessible through a mobile application. It is in operation in the Russian market and is ready for global scaling to China, America and Europe. The CarTaxi Company already has a team of professionals working from Moscow, San Antonio and Hong Kong.
It is efficient, currently operating in 38 cities with 6400 available suppliers. The average time of arrival is only 14 minutes.
How does it work
Using the decentralized blockchain technology to process payments guarantees safe transfer of money upon completion of services.
The owners of tow trucks are connected to the CarTaxi service. With the application installed, using geolocation based model (the closest nearby towing truck responds), they are available to assist on the road quickly and with minimal cost to the customer.
Step by step usage:
- Download CarTaxi application on your smartphone.
- Input information about your vehicle.
- Choose a payment method.
- The system appoints a suitable tow truck according to car's damage and size
- You will know the estimated time of arrival and cost prior to ordering.
- Tap on 'Create Order' button and the closest tow truck will be on its way.
How does CarTaxi make money off of its service?
The monetization model is easy to understand and transparent. The CarTaxi Company takes commissions charged for tow truck services. They depend on the region and range from 10 to 20% of the service cost. On the current Russian market, where the service is available at the moment, a commission of 15% is being charged. The same rate has been confirmed for the upcoming markets in USA and China.
Information about the CTX tokens
The CarTaxi COmpany will issue tokens (CTX) that are a combined type. With this, the rate of return for the investors includes two parts: Income in the form of dividends and income from the growth of the market value of the CTX token.
In the model, profits will be distributed as stated below.
- 25% of the company's income goes towards dividend distribution. They will occur once per month with the first distribution being held on September the 15th, for tokenholders that purchased CTX tokens in the presale.
- 25% of the company's profit goes towards buying up tokens on the market with the aim of increasing market value of CTX token. If there would become a shortage of tokens, the unspent profits would be used to increase dividends accordingly.
More details on the CarTaxi are available on the whitepaper on their website.
Information about the ICO
The CarTaxi's tokens, called CTX, will represent ownership of CarTaxi. 100% of CTX tokens are equivalent to 100% ownership of CarTaxi. Tokens will also be used as a payment method for the road assistance (car towing) service.
Total of 500 000 000 CTX tokens will be available for purchase, accounting in 66% of the total tokens. They will be available in two tiers, pre-ICO and ICO.
Pre-ICO , offering 12 500 000 CTX had finished before the deadline due to high demand.
ICO will start on 29 September 2017 and end on 29 October 2017 or when all of the available tokens are sold.
Total available tokens at the ICO are 487 500 000 CTX, priced at 1 CTX = 0.000443 ETH.
ICO will be held on their website: https://cartaxi.io/
Overview and potential
The project has very well written whitepaper with clear goals. It is already featuring a working application which is a huge bonus. The fact that it is the first crypto token offering this kind of service, makes it a pioneer and a unique usage of the blockchain network.
Based on the feedback from the pre-ICO it is advised to invest in ICO as soon as possible, because there might be a high demand for the tokens and you could get left out.
The CarTaxi's goal is to win up to 20% of the market worldwide and generate $970 million in revenue by 2022. They are planning on expanding on US and Chinese market by 2018 and occupying European markets by 2019.
Article written by Bearex
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