Announcing Cahrenheit, a Blockchain-Based Ecosystem for the Automotive Industry Powered by the VeChainThor Blockchain
VeChainOfficial last edited by VeChainOfficial
Originally published on July 19th, 2018.
We are pleased to announce our participation of the recently closed private round of Cahrenheit, a auto service related ecosystem powered by the VeChainThor Blockchain. Through careful deliberation and thorough due diligence, VeChain believes that Cahrenheit is revolutionizing the auto industries and taking real world auto experience and utilities into a new era.
‘Cahrenheit’s top brass is composed of world class entrepreneurs with unicorn building experience and highly experienced industry experts with avid technical and business development know-how. Furthermore, Cahrenheit’s well developed ecosystem of use cases and carefully designed crypto-economics will be the double engine driving adoption in the real world. I am confident that Cahrenheit will become one of the world’s largest blockchain based ecosystems, disrupting the trillion dollar automotive industry. I am extremely excited to be working with Cahrenheit to further develop VeChain’s already strong presence within the automotive industry though its partnership with BMW and Renault.”
— Sunny Lu, CEO of VeChain.
“We are extremely excited about VeChain’s investment and also becoming an instrumental member of the VeChain community. I believe with VeChain’s cutting edge blockchain protocol and deep bench of seasoned crypto, technical, and industry experts, Cahrenheit will be able to build a blockchain based solution to the automotive industry and bring real economic benefits to all participants of both ecosystems. We would also like to thank the Bitshine Group for the introduction to VeChain and its end-to-end support throughout the process from ideation to fundraising.”
— Joe Lee, CEO of Cahrenheit.
The Cahrenheit Vision
The trillion dollar auto related industries have long been plagued with information asymmetry resulting in unhappy customers and significant economic inefficiencies. There are countless stories where auto owners are dissatisfied with auto related services in terms of pricing, quality, and experience. However, it is not the cars’ fault; cars bring immense benefits to better people’s lives and set the scene for many great memories. The fault lies on the centralized businesses who aim to monopolize introducing information asymmetry to their products and services offered, or the middlemen who gain an advantage over others focusing only on short-term gains, whilst others settle for what is given.
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. This product is specifically designed for value creation in a industry poorly built on trust. Through the use of the platform, new markets are formed facilitating the auto-aftermarket shareholders. It is estimated that Cahrenheit will be able to bring a total of US$45 billion of economic benefits to all ecosystem providers within the currently understood auto-aftermarket in China alone.
By ending information asymmetry protecting data flow and enhancing transparency through a decentralized platform, Cahrenheit adds new markets, information channels, user experiences and services that will exponentially grow the projected $45B in benefits to the existing market through these newly added values. By building an untapped scope with a world class management team, Cahrenheit can not only disrupt but fundamentally evolve one of the largest longstanding industries in a way that shifts the power back to the car owner.
Read the Cahrenheit teaser Here.
The First CAH Channel Partner
Klover will be the first publicly announced Channel Partner, bringing into the Cahrenheit ecosystem 30,000+ SMEs, 1 million+ Consumers and 30 insurer partners. Klover will work closely with CAH Foundation to educate and usher the 30,000+ SMEs and 1 million+ consumers to adopt CAH decentralized application and utilize CAH tokens to transact within the ecosystem.
Klover is the largest InsurTech company in China, and the first internet insurance platform to have successfully applied for and have received China’s National Insurance Brokerage License. Within a few years since its inception, Klover has covered over 30 cities in China, and occupied top position of market share in most cities it operated. Using advanced technology platform and tools, Klover is connecting a gigantic decentralized network of SMEs in the auto aftermarket in China. Klover’s “又一单” (Youyidan) mobile App is a B2B tool focusing on the business development needs of SMEs — with unique features including “Multiple insurer quotations in one go”, “Simple quotation based on license plate number”, “Underwriting results within seconds”, etc.
The Cahrenheit Offering
Cahrenheit, in executing its vision shared by VeChain, has developed a suite of products and services that are not only monumentally better than existing products and services offered by centralized platforms, but truly innovative and revolutionize offerings that are blockchain empowered and community driven.
Any journey starts with a single step. The team at Cahrenheit analyzed their market and established their initial core products and services, these include:
CAHtrust is a fully decentralized search, listing, ratings, and review system for both SMEs and Consumers, based on real transactions with data contribution and transparency secured through the blockchain. Compared to centralized platforms, CAHtrust:
- offers lowest search/switch cost generating organic traffic;
- quantifies service ratings by token tipping in addition to reviews;
- only charges minimal listing fees to meet operational costs instead of charging “take rate” on transactions.
CAHmart is a frictionless and optimizing marketplace for SMEs and Consumers. Compared to centralized platforms, CAHmart:
- allows dynamic pricing by SMEs to broadcast off-peak capacity discounts
- allows SMEs to refer business to other SMEs for token rewards or future referrals
- only charges minimal servicing fees instead of charging “take rate” on transactions
CAHnalytics is a data analytics hub utilizing extensive, live, cross-referenced, and accurate datasets. Compared to centralized platforms, CAHnalytics:
- enables aligned data origination directly from Consumer and SMEs, and data monetization through EDUs via token payments, without intermediation cost and risks
- upgrades to live and big data analytics to enable better risk pricing and opportunity for new product developments
- allows highly customized data and payment solution for EDUs to pay exactly as needed, effectively lowering overall system costs and make purchase decision easier
CAHmine is suite of IoT devices jointly developed with IoT Channel Partners that can be installed on cars and at SMEs. Accurate real-time data of car performance across brands and real-time driver behavioral data can be collected through CAHmine. Besides data collection, CAHmine will also be able to “mine” for CAH tokens for the Consumers and SMEs. With the wealth of additional data collected AI and big-data enabled algorithms will be developed through CAHnalytics to better serve ecosystem participants
CAHnode is a community based incentive program created for the true HODlersl of Cahrenheit. To be eligible, a Consumer or a SME will need to hold a predetermined amount of CAH token. CAHnodes holders will be able to enjoy premium services, products, higher earn rate of CAH tokens, recommend charity donations to the Foundation, and other activities/special events. CAHnode holders will be local community leaders to drive the further development of the Cahrenheit ecosystem.
The maximum supply of CAH tokens will be 10 billion. The fundraising process will be divided into three tranches, the private round, the VeChain Foundation round for X Node holders, and the public round. All three rounds of fundraising will be hard-capped at 20% of the total token supply depending on demand. The exact ratio of VET to CAH tokens for distributions will be announced at a later date.
The private sale has already been filed and pre-sale for X-Node holders and the public sale will kick off in the coming months. Specific details will be announced at a later date. For more information and news, please follow their social media accounts: