The amount of vehicle fraud going on in the world may shock you, and while many consumers feel that current protections are adequate to stop them from becoming a victim, that may not be entirely true. For example, many auto reports stop at the local level. Many used vehicles are actually sent overseas for purchase, and their data does not go with them.
This leaves open the possibility that you are purchasing a vehicle that is significantly different than what you agreed to purchase, and it may even be stolen. To that end, this startup is putting all vehicle data on the blockchain. Users will be able to utilize this service to check whether or not the seller of their vehicle is being honest, and it will even aggregate data from overseas in the immutable ledger, so you can be certain it hasn't been tampered with.
As a product, this could make this service more valuable than existing ones and even more efficient. However, as an investment, it could be lackluster. While your carVertical investment could seem like a home run, the fact is that there's little reason for consumers to use the token at all. In fact, the company even states that all services will be available for purchase in fiat currencies, so what then is the purpose of the token?
It has no real utility, and that could leave many investors happy for the platform's success, but very disappointed in their returns. There's actually conflicting information in their own copy even, wherein one place they say that the token will be the only way to purchase services, but then say in other areas where fiat will be an option.
The number of exchanges where you can buy carVertical is tiny, and while the trading volume is substantial, it's also worrying. Having a small number of exchange listings can be very dangerous to an asset. While normally this is really only a concern for low volume listings who have a chance of being delisted, it's not outside the realm of possibility even for larger exchanges to shut down or boot a coin or token. Fortunately though, it looks like CV has enough volume where it won't be an issue. Investors will be able to use either Bitcoin or Ethereum in order to make their trade.
This is an Ethereum based token, otherwise known as an ERC20. Most investors are familiar with these, and due to their uniform storage requirements, it makes them a very convenient way to invest in multiple projects while only needing to use one cryptocurrency wallet. Some popular choices for this include Meta Mask, My Ether Wallet, Coinomi, and Jaxx depending on what type of wallet you want to use. Any of these would make solid choices.