What is carVertical (CV)?
Future of CV Cryptocurrency and know how to buy CV

#1 - What is CarVertical?

CarVertical: The Basics

Buying a used car or vehicle requires a certain degree of trust; you just have to believe the seller when he/she claims that the vehicle is in great shape. Though the vehicle may look great, you have no way of knowing if it has been through accidents and has been damaged in the past if the previous owner hides it from you. That’s where carVertical comes into the picture. Essentially a vehicle history registry based on blockchain, carVertical can ultimately save you from the millions of used vehicle frauds that happen every year.

CarVertical Development

  1. July 2017 was when the idea for carVertical was born. Since then, the project gathered a community of supporters, making tens of thousands of Euros in self-investment.
  2. The carVertical ICO was launched in December 2017, and lasted till April 2018.
  3. During this time, the team started aggregating the vehicle databases and registries of different countries, and developed and launched the alpha version of the carVertical wallet application.
  4. The beta version of the same is expected to be completed by December 2018, with the complete API product ready by January 2019.
  5. Prominent team members working on this venture include:
  1. Founders: Audrius Kučinskas, Rokas Medonis, and Robertas Boravskis
  2. John Mack, President and CEO CIE Automotive China
  3. Raid Naim, ex-IT Chief Architect BMW Group
  4. Peter Kuepper, Head of Transmissions’ Program Management BMW Group
  5. Olaf Zschiedrich, Global CTO OLX Group (Naspers Limited)
  6. Anatoly Ressin, CEO BlockVis

 

#2 - What are the benefits of CarVertical?

CarVertical Technology

  1. The CV token is a utility token based on Ethereum, a blockchain technology which enables smart contracts to be executed in a decentralized manner. CV tokens are distributed and stored on the Ethereum platform.
  2. Microtransactions are carried out off the network, with only the final stakes being returned to the network. This optimizes the transaction cost and performance.
  3. CarVertical pools together data from various trusted sources, arranges it in the form of records, and stores it on the blockchain. Sources include Police and Interpol, National Car Registries, certified dealerships, insurance companies, and car manufacturers, among others.
  4. With carVertical, you have the ability to
  1. Check if the vehicle that you are about to purchase has been registered in the stolen cars database
  2. Read up on the previous prices of the vehicle and its spotted activity
  3. Check the authentic odometer readings during different times
  4. View an extensive photo gallery showing pictures of the vehicle at various times
  5. Learn about manufacturing defects or recalls
  6. Figure out the location of the VIN of a particular model
  7. View and analyze the vehicle’s maintenance log
  8. Receive an in-depth summary of the accidents that the vehicle was involved in and the subsequent damages
  1. The collected data is analyzed using Machine Learning to retrieve information related to various aspects of the vehicle such as insurance renewal, maintenance check-ups, whether an oil change is needed, etc. A comprehensive report pertaining to the vehicle in question is presented to the user.
  2. Using the carVertical wallet (which is under development), users can find out information about a certain vehicle they want to claim, and vehicle owners can control the accessibility of the car records. Whenever information about the car is retrieved to be used, the owner gets rewarded with tokens.
  3. A user receives tokens for downloading the carVertical wallet app, confirming their identity via the Civic Identity Verification Blockchain, and confirming their car’s registration using their country’s national car registry.
  4. Moreover, service providers can target vehicles that require servicing, by paying tokens. This marketplace is going to be built with Ardor blockchain, an evolved version of NXT.
  5. The CarVertical team is also developing a white label solution (franchise model) for those wanting to start a business on their own. Through this, the white label buyer can purchase website templates, automatic report development systems, content management systems, API, and other such products using tokens.
  6. The company is working with leading IoT manufacturers to develop a product called the carVertical miner. When installed in the OBD slot of your vehicle, it collects real-time information and sends it to the carVertical for processing. As a user of this device, you get tokens as a reward.
  7. CV staking works in favour of members of the carVertical platform. The more the number of CV tokens that a member holds, the greater the discount he/she gets when seeking carVertical products such as car insurance services, API calls, reports, white label, etc.

 

#3 - How to buy and store carVertical?

How to buy carVertical?

  1. The carVertical token is listed on major exchanges such as Kucoin, Idex, Etherdelta, and Forkdelta.
  2. It can be bought in exchange for Bitcoin (BTC) or Ethereum (ETH).
  3. Check out CoinSwitch, the largest cryptocurrency conversion platform, and hassle-free one stop destination that lists out the exchanges where you can get CV tokens for the best possible rates. With CoinSwitch, you can easily buy CV using your BTC balance.

How to store carVertical?

As carVertical is an ERC-20 compliant token operating on the Ethereum Blockchain, it can be stored on any Ethereum-compatible digital wallet. Popular choices include MyEtherWallet, MetaMask, Mist, imToken, and Parity.

 

#4 – What is the future of carVertical?

Also Read: Complete Analysis of carVertical | Live carVertical (CV) Price Charts And Predictions

  1. As of July 2018, you can purchase a single carVertical token for $0.001582. The market cap is $8,995,357 and the total circulating supply is 5,686,783,572 CV, as of the same time.
  2. When you look at this token’s price history, you may realize that its value has never been significantly high. But bear in mind, this token is relatively new, and is still under development.
  3. Moreover, the price of CV has been predicted to rise to $0.007385, an increase of over 600%!
  4. With its pool of miner projected to reach 3 million by the end of 2019, 10 million by 2020, and 100 million by 2022, the team is confident that the market valuation will reach $6.6 billion within just five years.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.001336

0.001406

0.001247

0.001385

44,509

7,570,983

Jun 01, 2018

0.002426

0.002489

0.002292

0.002335

60,942

13,547,216

May 01, 2018

0.003843

0.003857

0.003508

0.003743

184,021

21,441,322

Apr 01, 2018

0.002416

0.002457

0.002203

0.002349

46,437

13,113,248

Mar 01, 2018

0.004253

0.004843

0.004188

0.004510

244,838

22,346,778

Feb 04, 2018

0.007720

0.008356

0.005965

0.006506

361,136

39,924,208

 

#5 - How is carVertical different from other cryptocurrencies?

  1. Being the world’s first blockchain based car history registry, carVertical has set out to revolutionize vehicle history databases by striving to eradicate used car frauds.
  2. It is comparatively new as compared to other cryptocurrencies such as Bitcoin and Ethereum. Due to this, it is still in the process of making its mark in the marketplace.
  3. CV tokens are the only cryptocurrency that can be used to purchase carVertical products.
  4. The carVertical project is backed by the European Union through the 2014-2020 Operational Programme for European Union Funds. This adds a certain degree of credibility to this token. With the hundreds of different cryptocurrencies existing today, it is important that the one you choose to invest in is authentic.

 

#6 - Should you invest in carVertical?

Being a carVertical token holder gives you the chance to be a part of a unique project that is transparent, decentralized and can be instrumental in the eradication of used car frauds. All in all, carVertical seems like a promising prospect with great benefits when it comes to long term investing.

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