IronBlock is a global decentralized platform designed to facilitate deals and optimize specialized machinery market services – with no middlemen involved. One of the key purposes of the platform is providing valid equipment condition data to facilitate dealmaking and ensure all contractual obligations are fulfilled.
Today, the conventional model for heavy equipment sales lacks transparency and remains a risky venture, while both direct and distance deals prove to be extremely difficult to close. The price of used machinery on this market can run up from several tens of thousand US dollars to a few million US dollars, while new equipment can cost even more. This price level requires maximum security and equipment data verification before signing a deal in this industry.
The trust between the parties is the key criteria for dealmaking on this market. IronBlock is creating a global decentralized blockchain platform that will uberize equipment condition verification, as well as maintenance processes, giving its users the access to verified information for every listing, checked by local service centers and authorized agents.
Annual heavy equipment market sales volume is around 17 million units worth $447 billion US dollars. A specialized machinery purchase requires scouting for offers and a careful analysis of equipment data, then arranging a preview, negotiating the contract with the counterparty, as well as sending out experts for visual inspection of the goods. If the buyer is satisfied with the offer – he may or may not continue to the negotiating table, and often times that’s exactly where it ends.
All these intermediary processes standing in the way of the deal require multiple middlemen, driving the final price of the contract up twice, sometimes even three times as high. Besides, finding proper equipment is a long process that can stretch for years. The perfect scenario would constitute a system where all the listings are verified, inspected, and ready for purchase. This is exactly what IronBlock is designed to provide, using blockchain as a foundation.
What’s new that the IronBlock platform can offer its users? The main working principle with which the IronBlock platform is being developed is about trust between the parties, and that it must be high for both short-term (thanks to valid equipment data), and long-term (due to lifetime maintenance logs). Arranging deals directly between buyers and sellers will decrease the final heavy equipment prices, and contractual obligations fulfilment guarantee ensures maximum security. On the top of all, the IronBlock designed platform will grant local players the opportunity to enter the global heavy equipment market.
Blockchain technology will allow the IronBlock project to create a detailed data registry for specialized machinery: certificates, service inspections, and ensure contractual obligations fulfilment through the use of smart contracts. This will guarantee up-to-date and valid information about the equipment and allow safe and secure transactions within the contract framework.
As a means of raising money to help implement the IronBlock project, we’re hold a two-stage ICO: PreICO and ICO. PreICO is on 12 December 2017 through 14 January 2018. Over that period 10.42 mil IRB tokens will be sold. The money raised during that period will go towards ICO preparations, reinforcing the team, and creating a working prototype, as well as legal project management system. ICO is scheduled to March 2018 and will run for two months. Over that period 339.6 mil tokens will be sold. The money raised during that period will go towards the commercial version launch, global infrastructure, local representatives network, licensed service centers, marketing, partnership network development, expanding the range of serviceable machinery and equipment. IRB tokens will be ERC-20 compliant and based on Ethereum. They will serve as a payment unit between the IronBlock users, services, and commission fees.
Why will the IRB token appreciate in value? The IronBlock platform is a unique and innovative solution on the specialized machinery market that will grant all its participants the access to verified information about the equipment, as well as facilitate secure purchase and sale deals. This will ensure sustained interest in the platform and its services among the market players. Commission fees and service payments will be made exclusively with IRB, constantly stimulating the token demand and turnover. Besides, token holders will be interested in keeping the token thus creating deficit in free circulation, taken the limited supply of tokens issued during the ICO, further increasing their value.
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