CarTaxi Token: Blockchain-Driven Automated Towing Service Network
The CarTaxi Token whitepaper was released by the core project team between August and September 2017, aiming to address inefficiency, high costs, and lack of transparency in the traditional vehicle towing service market by introducing blockchain technology.
The theme of the CarTaxi Token whitepaper centers on a “blockchain-based automated vehicle towing service platform.” What makes CarTaxi Token unique is its proposal and implementation of an “Uber-style” mobile app that combines blockchain technology with geolocation, integrating all towing services into a single online network and ensuring transaction transparency and obligation fulfillment through smart contracts. The significance of CarTaxi Token lies in its innovation of the vehicle rescue market, significantly improving service accessibility, speed, and security, while reducing operational costs and providing passive income for token holders.
The original intention of CarTaxi Token is to build a global, universal, and mutually beneficial automated towing service platform for both users and partners. The core idea outlined in the CarTaxi Token whitepaper is: by building an integrated mobile app on the Ethereum blockchain and using smart contracts for decentralized management and transparent transactions, CarTaxi can bring unprecedented efficiency, trust, and cost optimization to the vehicle towing service market.
CarTaxi Token whitepaper summary
What is CarTaxi Token
Friends, today let’s talk about a blockchain project called CarTaxi Token (abbreviated as CTX). You can think of it as a blockchain version of a “ride-hailing app”, but instead of calling a taxi, it’s specifically for requesting tow truck services.
The core idea of this project is to use blockchain technology to integrate towing services from around the world into a single online network. This way, when you need a tow due to a vehicle breakdown, it’s as convenient and fast as hailing a ride on your phone—you can find a tow truck anytime, anywhere, with a process that’s more transparent and secure. Its target users are drivers who need towing services, as well as companies and individuals providing towing services.
Project Vision and Value Proposition
The vision of CarTaxi Token is to become the first automated, blockchain-based towing service platform. Just as ride-hailing platforms have changed the way we travel, CarTaxi hopes to use blockchain technology to revolutionize the traditional towing industry, addressing inefficiencies and lack of transparency in the sector.
It aims to connect all towing service providers through a unified mobile application, allowing users to quickly and securely access vehicle transport services. Some even vividly describe it as the “Uber of the towing world”, because it adopts a similar interface and operating model, but adds blockchain elements to enhance trust and efficiency.
Technical Features
The CarTaxi Token project is built on the Ethereum blockchain. Ethereum is an open blockchain platform on which many decentralized applications (DApps) run. This means CarTaxi’s transactions and data records leverage Ethereum’s features, such as immutability and transparency.
The project’s core technology carrier is a mobile application through which users can request and manage towing services. However, more in-depth technical details such as the specific smart contract design, consensus mechanism (e.g., PoW or PoS), etc., are not detailed in currently available public information.
Tokenomics
Basic Token Information
- Token Symbol: CTX
- Issuing Chain: Ethereum
- Total Supply: According to different sources, the total supply varies. Some sources state 59,928,144 CTX, others 84,000,000 CTX or 10,000,000 CTX. We reference the more frequently cited 59,928,144 CTX.
- Current Circulating Supply: Approximately 39,928,144 CTX.
- Maximum Supply: Data shows 0 CTX, which may mean there is no preset hard cap, or the supply mechanism is dynamic.
Token Utility
CTX tokens play several important roles in the CarTaxi ecosystem:
- Payment for Services: Users can use CTX tokens to pay for towing services.
- Dividend Mechanism: The project plans to distribute 25% of company profits as dividends to CTX token holders, providing a potential source of passive income for holders.
- Token Buyback: Another 25% of profits will be used to buy back CTX tokens on exchanges, aiming to increase the token’s market value.
Token Distribution and Unlocking
CarTaxi conducted its initial token offering (ICO) from September 28 to October 28, 2017, raising about $8.71 million. The presale phase also successfully reached its target of 3,000 ETH. However, there is no clear information in public sources regarding the specific distribution ratios (e.g., team, advisors, community, reserves, etc.) or detailed unlocking schedule.
Team, Governance, and Funding
Core Members
During the CarTaxi project ICO, the main team members included:
- Taras Semenov: Chief Executive Officer (CEO)
- Alexey Tayanchin
- Gala Kovaleva
There is limited public information about the team’s further background, professional expertise, and specific operations after project launch.
Governance Mechanism
Currently, there is no detailed information available about the specific governance mechanism of the CarTaxi Token project, such as whether it adopts a DAO model or if token holders have voting rights.
Funding
The project raised $8.71 million through its 2017 ICO. At the time, the plan was to use these funds to expand CarTaxi’s services into the US and Chinese markets.
Roadmap
The CarTaxi project’s roadmap mainly focused on early development and market expansion:
- September 2017: Successfully completed the presale, reaching the 3,000 ETH target.
- September 28 to October 28, 2017: Conducted the initial token offering (ICO), raising about $8.71 million.
- Early Development: Services were successfully launched in over 20 cities.
- Future Plans (at the time): Planned to use ICO funds to expand services to the US and Chinese markets.
Since the project started early and current market activity is low, it is difficult to obtain detailed subsequent development milestones and the latest roadmap information from available sources.
Common Risk Warnings
Investing in any cryptocurrency project carries risks, and CarTaxi Token is no exception. Here are some common risks to be aware of:
- Low Market Activity and Value Risk: Currently, CarTaxi Token’s market value is extremely low, and trading volume is close to zero. Some platforms have even marked it as an “inactive” project. This means liquidity is very poor, buying and selling may be very difficult, and price volatility is huge, with a risk of going to zero.
- Project Development Stagnation Risk: As a project launched in 2017, if its subsequent development failed to keep up with market changes or the team is no longer active, the project may face stagnation or even failure.
- Technical and Security Risks: Although based on Ethereum, any blockchain project may face technical risks such as smart contract vulnerabilities and network attacks. Due to the lack of recent technical audit reports or active development updates, these risks may be higher.
- Compliance and Operational Risks: The regulatory environment for the cryptocurrency industry is constantly changing, and early projects may face new compliance challenges. In addition, as towing services are part of the real economy, their operations are also affected by local regulations and market competition.
- Information Opacity Risk: The lack of detailed whitepaper content, team updates, governance structure, and fund usage reports increases the project’s uncertainty.
Please remember, the above information is for reference only and does not constitute any investment advice. Be sure to conduct thorough independent research and risk assessment before making any investment decisions.
Verification Checklist
- Official Website: https://cartaxi.io/
- Blockchain Explorer Contract Address (Ethereum): 0x662a...4f18e66 (You can check this address on Etherscan or other Ethereum blockchain explorers to view token transaction records and holder distribution.)
- GitHub Repository: https://github.com/CarTaxiico (You can check code updates and development activity, but current activity cannot be directly assessed.)
- Social Media:
- X (Twitter): https://twitter.com/cartaxi_24
- Telegram Chat
- Bitcointalk
Project Summary
CarTaxi Token (CTX) is a project born in 2017 that attempts to apply blockchain technology to the traditional towing service industry, aiming to create an “Uber for towing” by connecting users and towing service providers through a mobile app to improve efficiency and transparency. The project raised millions of dollars during its ICO and planned to expand its services to global markets.
However, based on currently available information, CarTaxi Token’s market activity is extremely low, the token price is close to zero, and some data platforms have marked it as inactive. This may mean the project’s development did not meet expectations, or it encountered challenges in fierce market competition and a constantly changing regulatory environment. Although its initial vision was to use blockchain to solve real-world problems, its subsequent execution and market performance have not been ideal.
For anyone interested in CarTaxi Token, it is strongly recommended to conduct in-depth independent research, including checking its official website (if still updated), on-chain data on blockchain explorers, and community discussions, to fully understand its current status and potential risks. Please remember, cryptocurrency investment is extremely risky, and this article does not constitute any investment advice.