The global automotive market has more than 1.3 billion cars and is a 10 trillion US dollar market. However, it is a typical lemon market because of the asymmetric information problem. George A. Akerlof won the 2001 Nobel Prize in Economics for his paper published in 1970 “The Market for Lemons: Quality Uncertainty and the Market Mechanism”. He used a used car market example to point out that asymmetric information will cause the bad money drive out the good and the whole market will shrink.
Automotive consumers suffer from being surcharged by low quality products and services.
AlphaCar.IO will use blockchain technology to resolve this problem. By putting all transaction records on a public blockchain to make the records immutable, we will build a trustless automotive community. All contributors to the AlphaCar community will be reward with ACAR tokens, which will make consumers become stakewoners.
In today’s corporate world, profit of a corporation could only be shared by shareholders of the corporation and has little to do with consumers. However, a corporation cannot be successful with its consumers and partners. In the AlphaCar CTE (Community Token Economy), benefit of the CTE will be shared with consumers and partners.
The AlphaCar CTE also follow the network effect, which means its value will be proportional with the square of its members. This paradigm shift will create an immense wealth creation effect, which is similar to the explosive energy created in a nuclear fusion. The earlier people or business join the CTE, the higher return they will get.
AlphaCar has built a strategic partnership with AXATP, the JV of AXA and will start providing UBI (Usage Based Insurance) to car owners in China by 6/8/2018. AlphaCar has also built a startegic partnership with CheXiang.com, the leading car service enetrprise in China to provide one-stop car maintanance and repair service to car owners and reward them with ACAR tokens.
The founder and CEO of AlphaCar Bill Deng used to do his Ph.D under Prof. Vernon Smith, 2002 Nobel Prize winner in Economics and father of Experimental Economics. Bill Deng has served as the CIO of top automotive enterprise such as Chery and GAC-FCA. The AlphaCar elite team members are from FCA, Intel, AIG, Deloitte etc.
AlphaCar CTE will provide one-stop trustless services including CarDesign Sharing, R&D Sharing, Car Sharing, UBI, Car Trading, Car Maintenance and Repair, and CarFinancing around the world. We expect the total AlphaCar CTE memebers will grow to 50 million in two years.
Official website: http://www.AlphaCar.io
Telegram Group: https://t.me/AlphaAutoAssociation