CarTaxi Token (CTX).pdf
2017 WHITE PAPER | White paper SUMMARY 1 PROBLEM 2 SOLUTION 5 MARKET 8 BUSINESS MODEL 11 BUSINESS GOALS 14 INVESTOR YIELD 16 TECHNICAL IMPLEMENTATION 18 ICO STRUCTURE 24 TIMELINE 26 USE OF PROCEEDS 28 TEAM 30 REFERENCES 34 CONTENTS 1 | White paper CarTaxi is a logistics plat for evacuating and transporting cars that integrates all tow trucks in a single application. It is a global mobile solution based synergistically on geolocation and blockchain smart contract technologies. CarTaxi is a working product that has been tested and is in operation in the Russian market. It is ready for global scaling and an explosive growth of market share. The service has a global reach and has been already successfully launched in first cities. The CarTaxi Company has put together an outstanding team of professionals who are developing the business globally from offices in San Antonio US, Moscow Russia and Hong Kong China. SUMMARY 2 | White paper Sooner or later, most motorists around the world need to tow a vehicle your car, that of a family member, or even a rental car during a trip. The reasons are many a breakdown, out of gas, an accident, or even moving a car to a new home. The towing business is highly developed in places with high motorization more on this in the “Market size” section. However, this market has a number of aspects that offer new opportunities for the development of IT-based services. CarTaxi takes this market to a new level of organization, transparency and convenience. A CHAOTIC MARKET The vehicle towing business has not yet been automated globally, the way Uber has done in the taxi market. Everywhere, this business is based on old dispatching s that rely on human factors, and small to average clusters in each city, you have to look for the local operator and dispatcher phone numbers, and then guess when exactly help will arrive. With offices in San Antonio, Hong Kong and Moscow, CarTaxi is starting to radically change this outdated set-up in the towing services industry around the world. CarTaxi’s goal is to encompass the global market and establish a decentralized system of Client-Contractor transactions based on blockchain. The wide divergence of owners of tow trucks leads to a number of problems. PROBLEM 3 | Whitepaper EXTRA TRIPS WITH EQUIPMENT When looking for and ordering from disparate tow truck owners, it’s inevitable that the choice will not necessarily be the best or the closest one, leading to delayed delivery and extra trips. This in turn affects the cost of service and waiting time. Such problems can be solved using the modern geolocation system used by CarTaxi, which eliminates the human factor. NO FAMILIAR MOBILE APP Global trends show that, today, users in all spheres of life prefer the familiar, simple, convenient and functional at of a mobile application with geolocation, similar to the way they are used to calling a taxi around the world to call a taxi in almost any city in the world, all you have to do is open the Uber app, which has virtually become a global standard. Using CarTaxi, a driver in any city will also know that to call a tow trucka “taxi” for your carall you have to do is open the CarTaxi app. Now this will be the standard PAYMENT SECURITY The CarTaxi payment system uses decentralized blockchain technology to process payments worldwide, which guarantees the safe transfer of funds and the completion of services. 4 | Whitepaper CARRIER LIABILITY Most countries do not require mandatory insurance against damage to transported cars. Should a car be damaged during transportation, getting compensation often involves a drawn-out court case against the carrier. CarTaxi for Clients is the service provider whose liability for transportation is always guaranteed. This means that you, the customer, can always be assured that your cargo is secured by a global service provider, CarTaxi, and that any damage will be compensated without unnecessary hassles. 5 | Whitepaper The CarTaxi service solves all these problems using modern technology, making it possible to call for road assistance of the same standard of service, wherever you might be. Now you can arrange a tow any time, anywhere. By combining geolocation with blockchain technologies and packaging them into an Uber-like interface familiar to users today, CarTaxi makes life simpler and easier for drivers around the world. WHAT DOES THIS MEAN 1. A GEOLOCATION-BASED MODEL All owners of tow trucks in each region are connected to the CarTaxi service. A special application is installed for this purposean admin panel for partners. This means that, at any point in any city, a large number of tow trucks are available and ready to come as quickly as possible at minimal cost to the driver. The client receives the fastest service for the minimum cost, without paying for extra trips with equipment. SOLUTION 67 | White paper 2. BLOCKCHAIN TECHNOLOGY The CarTaxi plat uses blockchain technology based on smart contracts with Ethereum. Blockchain makes the company’s operations completely transparent. PAYMENT Payments are set up using smart contracts and blockchain technology, making this the ideal system for safely transferring funds between the client and the service provider, and guaranteeing that payment will be transferred only when the service has been rendered.Tow trucks near the requested location. Order details and price base on CarTaxi’s rate schedule in each region 7 | White paper The blockchain system allows you to conveniently track the status of payments with each contractor. It maintains a database of orders, provide transparent accounting and offsetting various types of payments. SAFETY OF TRANSPORTED PROPERTY There is always the risk of damage to vehicles being transported and that raises the issue of liability for damage. Using a decentralized payment system and smart contracts, the CarTaxi monitors the transportation process from the arrival and loading phase, to unloading at the end point. Smart contracts allow you to track the safety of the goods being transported. The CarTaxi Service is promoting the principle of guaranteeing the safety of cargo during transportation. When using CarTaxi, the driver can rest assured that the towed vehicle is always under CarTaxi protection. You won’t need to go through the courts for reimbursement from the carrier. CarTaxi simplifies this procedure, guaranteeing your vehicle’s safety through an insurance fundand handling any further recovery with the carrier. 8 | White paper The towing industry market is showing impressive volumes around the world. Based on US market research in 2016 [1], the US market alone was worth 6 billion and posting annual growth of 2.5. Based on the proportion of motorization in various countries, experts estimate the global market to be worth more than 26 billion. China’s market alone, where CarTaxi is being introduced, is almost twice as large as the US market and is worth an estimated 9.6 billion. Figure 1. The number of cars in the world, billion units SERVICES MARKET VOLUME 26 billion ANNUAL GROWTH 3-5 9 | White paper The number of cars in the world passed the one billion mark in 2010, according to Whardsauto research2. Given that motorization is expanding at 3-5 per annum around the world, the towing market will see the same growth. By 2022, the car towing market could well reach 32 billion. POINTS OF ENTRY CarTaxi’s strategy is to cover the global market, starting with the most convenient entry points. So, the business was started, the product tested and the service launched in the region with the most favorable conditions, minimum costs, the fastest start. Our criteria for the choice of country were based on its potential market structure, legal environment, penetration of mobile services, and other factors. Thus we chose the Russian market, followed by the US and Chinese markets. CarTaxi is already operationally active and functioning fully in Russia, where the app has become 1. Full-scale testing is being conducted to scale the service up globally. Also our offices in San Antonio and Hong Kong are actively connecting partnersi.e., tow truck ownersto our system. Connecting each new region through our partner system appears to be the best approach. It has proved itself well with the worldwide Uber service, so CarTaxi chose precisely this approach. As the first global service of its kind, CarTaxi’s goal is to capture up to 20 of the world market and become the 1 name in the minds of drivers around the globe. The timeframe for reaching benchmarks based on the sequence of new markets being connected is described further in “Business development goals.” Over the next 5 years, CarTaxi’s annual revenue target is 0.97 billion see Figure 4Revenue targets.10 | White paper Figure 2. CarTaxi offices as of Aug 2017 11 | White paper The CarTaxi project offers the most easy-understand monetization model. The CarTaxi service is monetized through commissions charged for tow truck services. Depending on the region, the commission ranges from 10 to 20 of the cost of the service. At the moment, in the Russian market where the service is already up and running successfully, 15 of the commission is being charged. The same rate has been confirmed in the US and China. Rates are calculated automatically and are consolidated within each region. This ensures that customers are receiving the best service possible for the best price. 12 | White paper Figure 3. Sales dynamics for CarTaxi services as of Jul 2017 X2-3 WEEKLY GROWTH 13 | White paper BUSINESS PROCESS MAP 14 | White paper BUSINESS DEVELOPMENT The main product has been designed, tested and launched, demonstrating strong perance in the start-up market. The purpose of investment and key project development goals are 1. MARKETS EXPANSION - 2017-2018 Achieving full coverage and dominance in the CIS Russia, Ukraine, Belarus, Kazakhstan, Armenia etc. market launching plat. - Q1 2018 Launching operations and covering the US and Chinese markets. - 2018-2019 Organizing entry points to markets in all significant regions India, Southeast Asia, South America, Eastern and Western Europe. - By 2020 Achieving dominance in US and Chinese markets. - By 2022 Achieving dominance in all active regions. The main means of expanding are running PR campaigns to attract core players in the market and establishing a system to connect partners in each new location.GOALS 15 | White paper 2. SUPPORTING AND DEVELOPING THE SERVICE. - Continuously scaling the plat according to newly connected regions. Integrating new cities into basic rate schedules. - Maintaining the plat load testing. - Developing additional functionality including linking insurance partners in appropriate regions. CarTaxi’s strategic goal is to win up to 20 of the market worldwide in 5 years and to generate 970 million in revenue by 2022. CARTAXI REVENUE TARGETS Figure 4. Revenue targets 16 | White paper PROFITABILITY OF CARTAXI CTX TOKENS Since CarTaxi is an existing business that is dynamically expanding into new markets and CarTaxi’s aim is to offer investors the most attractive conditions for investing in its growth, the company’s tokens, CTX, are a combined type. In addition to bobuses paid out on them from company profits, CTX tokens will also be redeemed on the cryptocurrency exchange market using those profits. The rate of return for the investors includes 2 parts 1. Profit in the of bonuses. 2. Profit from the growth of the market value of the token. In this model, company profits will be distributed thus 1. 25 of company profit goes towards bonus distribution. Distributions are accrued once a month. First distribution will be on 15 th of September 2017 for tokenholders, who purchased their tokens before said date deadline is 15 September UTC 0 00-00. Transfer to tokenholders wallets will be made during the week after accrual. 2. 25 of profit goes to buying up tokens on the market with the aim of increasing their market value. Should there be a shortage of tokens on the market, the unspent profits will be considered additional profit and bonuses increased accordingly. CARTAXI IS ONE OF THE FEW EXISTING BUSINESSES EMERGING ON ICO 17 | White paper TOKEN APPRECIATION SCHEME BONUSES Once CarTaxi reaches its targeted development goals revenue targets, the bonus part of investor income will be - over 75 million or 152 of investment starting in 2020; - over 150 million or over 300 of initial investment, starting in 2021, provided that the dynamic of reaching target indicators correlates with the schedule of revenue targets see Fig. 4. The bonus type of tokens will contribute to the growth of the market value of the CTX token, as well as the stable redemption of tokens from the market by the issuer. 18 | Whitepaper SYSTEM ARCHITECTURE Terms 1. Service a comprehensive automated ination system called CarTaxi, which provides for the transportation of vehicles using tow trucks. 2. Geolocation the coordinates of the vehicle’s current location 3. Customer the consumer of the Service 4. Contractor the tow truck driver, the service provider. Components 1. A mobile app for clients, implemented on iOS and Android plats, to call a tow truck and manage orders. 2. A mobile app for partners and contractors, designed to receive orders from customers, continuously updating the geolocation and managing the business processes of the working session. 3. An administrative web interface to manage service operations. 4. A subsystem of business processes, designed to model and manage the service business transactions. 5. An authorization service to authenticate and authorize users. 6. A service to establish the cost of travel, designed to calculate the preliminary cost of travel based on the location of the source and destination points of the route. 7. A coordinate storage service to store contractor movement history. TECHNICAL 19 | White paper 8. A dictionary service to provide an interface for accessing reference ination, brands and models of cars, their mass, dimensions and ground clearance. 9. A push notification service, for sending notifications to participants in business transactions. 10. A service for sending socket messages to participants of business transactions. 11. A service that works with geodata, storing and processing the location of each contractor. 12. A route planning service that selects the best contractor and the best route for an order. 13. A rate zones service as an interface to manage rate zones and their parameters. 14. A report service designed to generate and store reports on the operation of the service. 15. Blockchain. System architecture flowchart 20 | White paper MOBILE APP FOR CLIENTS A mobile app for clients has been implemented on IOS and Andr