The developers have been working on the startup since 2017 (official site carvertical-com). Its headquarters are located in Vilnius.
CarVertical is an open-source decentralized Ethereum-based blockchain platform that operates as a global database for the motor-car industry.
Presently, many buyers of used cars risk purchasing low-quality goods that do not meet the stated requirements.
The main objective of the CarVertical project is to implement a single-vehicle history register, which will contain all necessary information obtained from various verified sources, including centralized ones. All publicly available data will be entered in the blockchain network and cannot be deleted or changed, which guarantees greater transparency and trust. Users can be 100% sure of the accuracy of the information.
With the help of the project, everyone can learn all the necessary information about the car.
The platform is based on the CV digital token of the ERC20 standard, which activates the entire system of payments between participants and is intended for payment of services.
In addition to that, the platform motivates users with a CV that provides accurate information.