CarBlock is a decentralized blockchain platform and ecosystem that serves the entire automotive and transportation industry. While the internet has enabled the flow of information, Carblock will do the same for data and assets. This increased access to data will enable businesses to make better decisions and stimulate a more efficient operation for them on CarBlock, while also attract individuals, teams, universities and research institutions to join the ecosystem and eventually change the entire automotive and transportation industry.

The premise for CarBlock’s inception is that from the beginning of the 21st Century, digitalization, networking, and big data have driven tremendous changes in the automotive industry and its peripheral industries. CarBlock will be first incubated by the world’s leading connected car device company, nonda (No NDA Inc) and then will later conduct its operation independently. The team behind CarBlock took nonda from a small Silicon Valley startup and grew it to being one of the world’s leading connected device companies. The team firmly believes that traditional mindsets regarding the automotive and transportation industries will inevitably be disrupted. We will share more details about those insights later in the whitepaper.

CarBlock’s ecosystem is built based on extensive research and investigation.  Based on that information, we work off of the following fundamental principles: 

The ownership and interest of all data should belong to the data provider, in most circumstances, the car owner. First, this is where the regulations are headed (especially in most Western countries), and second, car owners are the foundation of CarBlock’s ecosystem and serve as the link between business and data. Our expectation is that Blockchain and its decentralized nature will provide the perfect solution for these scenarios.

CarBlock will not profit as the middleman in the data marketplace. On the contrary, CarBlock will ensure the free circulation of data and decrease the friction during this process. The purpose of transaction consumption is to merely cover the cost of the system. CarBlock will even subsidize individuals, teams, universities and research institutions with creative capacity if the organization perceives the potential of those offerings to better the ecosystem.

Data circulation will create a mutually beneficial situation for all participants within CarBlock’s ecosystem. - Car owners can earn token rewards for providing data and in return, receive a more tailored, or reduced, pricing based on the data they provide. This allows participants to enjoy more creative services and products built from the provided data. - Automotive and transportation companies can gain enormous amounts of data, which will ultimately drive competition and force companies to come up with better, more targeted, products and services built on the data received via CarBlock. Given that the data itself is sanitized (no personal data will be shared), CarBlock will be the most efficient platform to connect car owners with service providers. - All innovators will have to access to the data they’ve been longing for, and build more creative services and applications upon it. Actually, CarBlock team has already developed some creative services in the US market and received amazing feedback. We used tire pressure data and cross analyzed it with gas consumption to save millions of dollars of gas fee for our users. We created a tax deduction service based on drivers’ mileage logs and helped them to save over $1,000 in tax payment each year. We are further assured by these attempts that with the help from data, more amazing things will be created by innovators.