ROAD is a token of the interaction and life cycle accounting system for cars based on blockchain technology and called Auto-Ledger.
Auto-Ledger is a vehicle network and transport smart system based on community interaction to implement related business applications, confirm data and protect privacy using blockchain.
The project is developing business applications for data transactions, information exchange, and vehicle financing, and also protects user privacy.
The account book contains all the static (VIN number, car price, configuration, insurance) and dynamic (trajectory, service, records of violations) data that is created after the vehicle leaves the production line. The owner has the right to manage and transfer all data and digital assets.
The ROAD blockchain is based on INT Chain and is connected to other IoT systems via cross-chain protocols. The architecture of the ROAD system is divided into three layers:
- Data production layer;
- Data storage layer;
- Application layer;
The ROAD token is used to coordinate the exchange of resources between vehicle nodes and cross-chains. ROADs are also used to pay as part of Road Distributed Business, which includes:
- E-commerce application;
- Auto financing;
- Data saving;
- Sharing the economy.
Distribution & Lock-up Period:
- 10% for private sale: No lock-up for IEO portion; private sale portion to be released two months after IEO, once every month in one-year course.
- 10% for team: First unlocking in Jan 2021, 25% tokens to be released once every year in four-year course.
- 10% for foundation: First unlocking in June 2020, 25% tokens to be released once every year in four-year course.
- 70% for ecosystem: Mining to start in June 2020. The execution plan will be determined by voting and more details will be released soon.