FAQ

Car VDB is a platform which will turn vehicle ownership into simple and pleasurable experience. The platform will integrate all services that vehicle owners might need – buy, sell or auction a vehicle. Get insurance. Find a service center for maintenance jobs. Purchase accessories or spare parts. Track vehicle status – history, scheduled maintenance, previous owners and much more. All this from one application available on any smart phone.

Users of the CarVDB platform can use the CAR tokens to purchase a vehicle, pay their insurance or pay for maintenance work at any of the service centers we work with. CAR tokens can also serve as warranty to guarantee the vehicle condition or to buy accessories or spare parts at better prices.

CarVDB Platform has a market share is several areas – vehicle trade and auctions, insurance market, vehicle maintenance & vehicle history data. There is no single competitor out there that offers this kind of end-to-end solutions to vehicle owners or businesses in the automotive industry, neither mainstream nor blockchain company.

What stops any established bank to implement blockchain and become formidable competitor to Bitcoin? Or what stops Google to make their own competitor to Ethereum? They sure have the money and resources to do it. However, this is not stopping people to buy Bitcoin and Ethereum. We all believe blockchain and cryptocurrencies have future and therefore we invest in them. Same is with our platform – we believe we can deliver a valuable product that people will like and we are going to do it. If competitors want to join, they are welcome to. We will have more reasons to work harder and deliver a better product!

We prefer not to think of our project as market disruptor but rather as a project that brings value and makes people’s lives easier. When we manage to do both, we will consider it a success. Apart from that, we believe that much can be done in the area of vehicle ownership. In the world of IoT, vehicles and all services around them strangely manage to stay offline. We are going to change all that – how many previous owners, were there any accidents and how serous, where was the vehicle repaired, was the mileage altered, was the vehicle properly serviced, when is the next oil change, all these things and much more will be available on the CarVDB Platform.

Actually the project is indeed unique. First, there is no other platform which is targeting world while adoption for all kinds of vehicle. Currently, we do have services in US and Spain and we plan expansion to the entire Americas Region (North & South), Australia, China & biggest countries in Europe. Second, we are not developing only a sales platform. Users will receive end-to-end services related to their vehicles like insurance, dealer and service center ratings and recommendations, complete vehicle history, maintenance reminders, digital owner’s manuals, self-repair manuals and much more. Those are only services for end users. We are targeting the Businesses too – Insurance companies, Vehicles Service Centers, Dealerships, Auction companies, etc. There is no other similar platform on the Internet.

The solutions that currently exist do offer some satisfactory services, i.e. sellers can offer a vehicle for sale and buyers can find it. However, this is pretty much it. We want to go beyond this and offer more value added services like purchases available via smart contracts with FIAT money or CAR Tokens, total protection from scammers and timewasters, full vehicle history and maintenance reports. All this functionality wrapped around an interface built from the user perspective aimed at functionality and usability first.

Our Insurance Platform is nothing like other platforms that currently exist. While other platforms offer insurance quotes based on the vehicle characteristics, we will be offering quotes based on actual usage of that vehicle: Usage Based Insurance (UBI), Pay As You Drive Insurance (PAYDI), Pay How You Drive Insurance (PHYDI). Based on how and when a vehicle is being used, owners will be able to receive personalized quotes with far better premium and pay in FAIT money or CAR Tokens. All these quotes will be available on our application with a single finger tap saving time and efforts for our users.

The CarVDB Maintenance Platform will be a major success simply because such platform does not exist at the moment. Car owners will have all the maintenance information for their car available on their cell phone and will be automatically notified about upcoming scheduled maintenance. They will be able to choose where to service their vehicles from a list of rated service centers and will be able to pay with CAR tokens. Once the job is complete the work performed will be recoded on the CarVDB platform, thus providing a full vehicle history record. In addition, the platform will feature self-repair manuals, all the vehicle technical data, previous owners count, mileage and much more.

ICOs have turned into an easy way to gather huge amounts of capital in very short amount of time. While striving to gather as much money as possible, other ICOs focus on everything else but developing a technology or product that actually works. It is getting worse, many ICOs promise “disruptive” ideas that are not even possible with the current blockchain technology. They do it with the sole purpose of attracting more investors. We do it vice versa – we focus on technology and end users first. And we are building a down-to-earth solution that people can use at this very moment, not 5 or 10 years from now. The next crypto bank or the next decentralized asset exchange are all great ideas but unfortunately not possible at the moment.

Some of the benefits include but are not limited to:

- Yearly bonus of 500 CAR Tokens to be spent by the card holders as per their desire

- CarVDB user profile marked as “Founding Member”, which entitles each card holder to priority customer service and lifetime no transaction fees on the CarVDB platform

- Up to 25% discount on insurance premiums

- Up to 60% discount on purchases of vehicle spare parts and accessories

- Priority maintenance appointment at any of our Service Center partners. This means no more waiting for 2 weeks to get your vehicle inspected / repaired. You get your appointment within the next two business days

- Up to 30% discount on vehicle maintenance / repair jobs

- Car Rental Benefits — card holders get complimentary vehicle upgrade and premium prices at some of the major rental companies

- Additional one time exclusive offers, services and discounts provided by CarVDB or our partners

Up to this date Ethereum is the most developed blockchain that also allows usage of Smart Contracts and has great development support.

In order to see your tokens you have to add them to your wallet. We recommend using MyEtherWallet or MetaMask. Here you can find the instructions on how to add a custom token in MyEtherWallet and here the instructions on how to add a custom token in MetaMask.

When making a contribution the CAR tokens are sent to you instantly via the Ethereum Network. You can see them in your ERC-20 compliant wallet. The balance on CarVDB website, however is not instantly synchronized with the Ethereum network. Our admins confirm all transactions and manually update our database. There is no need to worry, your CAR tokens will be reflected in your CarVDB profile page in a few days.

The only place where CAR Tokens can be bought is our website - https://www.carvdb.com/. After registration you will be provided with our crowdsale contract address which you can send Ethers to. You can find the instructions on how to contribute with MyEtherWallet here and the instructions on how to contribute with MetaMask here.

The price is calculated based on the following formula: Total Tokens for sale divided by the Amount in ETH needed for development. The CAR Token amount is fixed to 100 million, there will be no more tokens issued after the ICO. Once the platform grows and we have wide user adoption, this will create scarcity, i.e. demand for tokens, which will drive the price of the token up.

If you have used a wallet that is not ERC20 compliant but you have access to the private keys you can export these keys and import them into an ERC20 compliant wallet. You can use MyEtherWallet. If your coins are held in a wallet and you do not have the private keys, you should try to contact that wallet's support team to see if they are able to transfer the tokens for you. CarVDB cannot change the wallet address that the tokens have been sent to.

The tokens to be sent to each contributor are automatically calculated by our crowdsale contract based on the ICO wave. If you invested 1 ETH during our Pre ICO wave you will receive 1580 Tokens + 50 % bonus tokens. That is 1580 + 1580*50% = 2370 tokens. If you invested during Wave 2, you will receive 1580 Tokens + 40% bonus tokens and so on.

If your wallet has been hacked and your CAR tokens are missing, unfortunately there isn’t anything that can be done by CarVDB. We do not have any control over the investor’s wallets and the tokens are freely exchangeable once the ICO is complete.

Generally, the tokens are retrievable if the ICO has not completed yet, however if the ICO is over, we might not be able to get your tokens back. Please, contact CarVDB support at support@carvdb.com and we will see if there is anything that can be done.

Although we cannot comment for all jurisdictions, we can confirm that we cannot sell any CAR tokens to the residents of the following places – New York State, Puerto Rico, the US Virgin Islands, Singapore and China. If you are resident of another country, you are probably allowed to buy and trade with CAR tokens but before doing so we strongly recommend to check the relevant laws in your state of residency.

The KYC process is intended to check the source of funds and prevent money laundering. At least this is the intention. The problem is that there is no 100% secure way to digitally check someone's identity. If a party wants to "cheat" the system they can buy a fake ID or ID template online for less than $50 and still pass the KYC process. Sometimes it is difficult for authorities to spot fake IDs when they hold it in their hands, what is left for digital check. Therefore, we consider that implementing a KYC process will only complicate the process for most users who would pass the process anyway. In the same time, the KYC will not bring any guarantee that all investors are compliant to the requirements, hence the purpose of the process will not be achieved and we see no point in its implementation.

We are glad you wish to work with us. Please, send us an inquiry at support@carvdb.com and include your resume and short description of why you believe you can contribute to the project.

You can share information or reach us via one of our official channels:

CarVDB Website: https://www.carvdb.com/

Twitter: https://twitter.com/CarVehicleDB

Facebook: https://www.facebook.com/CarVehicleDB/

Reddit: https://www.reddit.com/r/CarVDB/

Telegram: https://t.me/carvdb

Announcements related to our project can be seen on our official channels:

CarVDB Website: https://www.carvdb.com/

Twitter: https://twitter.com/CarVehicleDB

Facebook: https://www.facebook.com/CarVehicleDB/

Reddit: https://www.reddit.com/r/CarVDB/

Telegram: https://t.me/carvdb