Strapping block chains to the wheels of the trillion dollar automotive industry
One might say the Internet of Everything is turning the wheels of economy. Things are revving up. When New York based Sino United Worldwide Consolidated(OTCMKTS: SUIC), the barons of blockchain services, signed a recent MOU with Sinoway International Corp, who operates in the automotive aftermarket industry via e-commerce, the Internet of Vehicles (IoV) took another step forward.
The two companies are working together to launch AutoCoin security tokens and an integrative trading platform dedicated to the automotive industry. In essence, the AutoCoin, a hybrid token integrating smart contracts with Bitcoin and Ethereum core protocols, will bring Blockchain technology solutions to the global transport industry. AutoCoin is a universal platform for buying and selling vehicles and auto related products or services using a proprietary cryptocurrency focused on the automotive paradigm.
[AutoCoin is a universal platform for buying and selling vehiclesand auto related products or services.]
So, what is IoV? It is an integration of three networks: an inter-vehicle network, an intra-vehicle network and a vehicular mobile network. Let’s get “inter” and intra” out of the way. “Inter” vehicle communications rely on cooperative systems and wired automotive technologies. “Intra” vehicle communications are tied to sensors and actuators in addition to wired automotive technologies. Vehicular mobile networks, comprised of a distributed network, such as a wireless sensor network, can monitor everything from (and not limited to) traffic and noise to temperature, air pressure and pollution.
What this all means in the trillion dollar automotive market is that information can be acquired in real time relating to most forms of transportation: road, rail, air, water, and pedestrian.
Both SUIC and Sinoway International are working together to take the substantial commercial interest and the research value of IoV forward. Additionally, the systems supporting the IoV technologies will enable Big Data interactions among users, vehicles, the environment and much more. It also fuels the economic development of car networking.
According to the automotive trade journal, Ward’s Auto, there are 1.2 billion vehicles on the road and is projected to reach 2 billion by 2035. The automotive market has much to harvest from the sensors out there in a mobile world. The connections are many: car-to-car, cars-to-people, cars-to-merchants, cars-to-roads, traffic database, anti-theft protection, insurance, fueling, parking, car wash, roadside emergency assistance, and periodic vehicle inspection, integrated and controlled remotely via one-touch digital handheld mobile devices ….. I ran out of ink.
[There are 1.2 billion vehicles on the roadand is projected to reach 2 billion by 2035.]
It is no surprise that SUIC and Sinoway see the AutoCoin contributing to the development of smarter cities and intelligent transportation systems. Of course, they have done their homework knowing how skittish investors can be regarding cryptocurrencies. SUIC’s experience is evidenced by their Blockchain portfolios in five sectors: logistics and trade, finance and coin, vehicle and transportation and medical and healthcare.
Their Blockchain services cover the gamut: identity verification, food source tracing, remote healthcare, data transactions, IoT device management, and proof of information and now, the Internet of Vehicles (creating the Internet of Value). When it comes to Blockchain, they boast one of the most respected scopes of experience in the world. Check their website to get more details.
[The AutoCoin can contribute to the development of smarter citiesand intelligent transportation systems.]
Sinoway International is focused on global alliances and partnerships leading to the distribution, retailing and installation of automobile parts, equipment, chemicals, accessories and car insurance companies worldwide through its proprietary digitization of channels and interfaces. Also, Sinoway’s exclusive online trading platform will connect private car owners, car sellers, automotive service providers, automotive parts suppliers and insurers worldwide. The resulting higher price transparency and greater diversity of supply for consumers sets the stage for the AutoCoin.
Here’s the good news for investors. Sinoway will lead the global aftermarket industry, which is expected to grow at 3% per annum through 2030. The primary driver is China at 9% per annum and Asia at 6.5% per annum. The forecast for digital-related revenues from the industry is significant given the increasing digital activity in the automotive market not only in Asia, but worldwide.
[The global aftermarket industry is expected to growat 3% per annum through 2030.]
To ensure satisfying returns on investment to its shareholders, SUIC and Sinoway want to support long-term programs that generate economic growth, jobs and prosperity. The AutoCoin represents an opportunity to shore up a position in global economic growth. Given the fact that over a hundred million vehicles are added to the highways every year, the road to success is being paved by SUIC and Sinoway.