The team behind CarFix, a Russian auto repair startup, is launching into a new market: blockchain technology for vehicles. VLBToken, their Estonian-based venture, is building an Ethereum platform that
The team behind CarFix, a Russian auto repair startup, is launching into a new market: blockchain technology for vehicles. VLBToken, their Estonian-based venture, is building an Ethereum platform that tracks every aspect of a car's existence—from manufacturing to the scrap yard.
The system functions as a shared ledger. When you buy a car, insure it, get it serviced, or replace a part, the platform records it. Manufacturers, insurers, and parts suppliers can access and contribute to the same ledger. Buyers can verify a complete history. Insurers can process claims without disputes. Manufacturers can confirm authenticity.
Oskar Hartmann, one of VLBToken's co-founders, sees a gap in the market. "With the advancements of hardware within the automotive industry we saw a disconnect when it came to an advanced software," he said. "VLB streamlines one of the most antiquated industries in the world when it comes to car services and transparency. We strongly believe that our blockchain technology can provide all those involved with a positive value and create significant clarity for users interacting with the automotive industry."
The model relies on tokenomics. Anyone wanting to record data pays in VLB tokens. Those who share data earn tokens from buyers—whether that's an individual checking a car's history before purchase or an insurer deciding on a claim.
The platform targets the $1.8 trillion global auto market. Manufacturers get stronger warranties and can identify counterfeit parts. Buyers get better resale values and more competitive insurance pricing. Players act more honestly when others watch them, and in this system, everyone watches everyone.
CarFix will pilot the system first. The company serves 250,000 users across Eastern Europe, with relationships to ten of the region's largest spare parts distributors and 500 repair shops. These participants will form the initial test group. Once CarFix proves the platform works, new players can join—but only through a consensus mechanism, not through CarFix's approval.
