Cahrenheit aims to bring the fundamental change that is needed within the auto related industries, ending all zero sum games, eliminating information asymmetry, and establishing data ownership and value which create billions of dollars of real economic benefits to all ecosystem participants including auto owners, service shops, insurance companies, auto lenders, second-hand auto dealers, auto makers, etc.
Reviews & Resources
Cahrenheit Foundation (“Foundation”) aims to create the world’s first blockchain-based ecosystem for the automotive aftermarket economy, a US$940.6bn (Marketline) market globally; as well as the world’s largest blockchain-based use case, with the potential to serve 1) over 1 billion passenger vehicles (“PVs”) and their owners/users (“Consumers”), and 2) approximately 5 million small and medium sized auto service providers and their employees (“SMEs ”), and 3) thousands of Enterprise Data Users (“EDUs ”). Cahrenheit ecosystem is designed to establish data transparency for trust building, in turn encouraging information and transaction flow amongst Consumers, SMEs and EDUs, all on a decentralized network. Klover Insuratech (http://www.1234ye.com) will be the first Channel Partner of Cahrenheit providing access to 30,000 plus SMEs, over 1,000,000 Consumers and 30+ insurance companies.
Benefits to the Real Economy
Through blockchain technology, Cahrenheit is able to effectively address structural issues of the auto aftermarket industry and provide tangible economic benefit to Consumers, SMEs, and EDUs. Consumers will enjoy lower cost of car ownership; SMEs will reach higher capacity utilization and additional income; and EDUs will, through higher quality and more holistic data, more accurately price product risk (such as insurance or loans). The Cahrenheit Foundation believes that with the wide adoption of its ecosystem, economic benefits of more than US$45bn could be realized in China alone.
Game Changing Data Collection
Cahrenheit will be able to create a unique and ubiquitous network of data collection network for the auto industry, unlike any other. In the first stage, Cahrenheit will utilize its existing network of SMEs to collect automobile related data, which has the lowest barrier to adoption and data on-chain costs while enhancing data breath without compromising quality. SMEs are ideal data collection agents as they are decentralized in existing state, have the widest reach of local customers and provide multiple access points to ensure data accuracy. In the second stage, upon establishing the SMEs network, we will launch IoT devices that will fill in the gaps within our data collection network, adding cross brand car performance data, real-time driver behavior information and also seamless mining of CAH tokens for the community. With the team’s background in creating China’s biggest car hailing app, Cahrenheit will be able to reach millions of Consumers and SMEs.
Comprehensive Incentive Schemes with Fiat Support
Cahrenheit ecosystem implements comprehensive and dynamic token incentive schemes to continuously motivate key ecosystem stake-holders. In addition to conventional rewards for uploading data and transacting, ecosystem participants can selectively sell their data processed by Data Servicers to EDUs; a service that individual owner deserves to have and would not able to do without Cahrenheit. At the same time, EDUs will now have access to living, robust, and an accurate dataset, which will be monetized with significant fiat generation and value distribution to the entire Cahrenheit ecosystem.
World-class Team Ensuring Success
The founder of Cahrenheit, Joe Lee, is a co-founder of Kuaidi, which merged with DiDi in 2015 and absorbed Uber China operation. He started and grew the operation of private car service segment to over 10 million orders per day. After crowning Didi-Kuaidi to be the number one player in China, the Cahrenheit team left and successfully built a network serving 20,000 plus SMEs, over 150,000 Consumers and 30+ insurance companies with the goal to bring transparency and eliminate information symmetry in car use data, thereby lowering costs for Consumers and insurance companies, while increasing revenue and service quality for SMEs.