IronBlock - a decentralized platform for verifying machine conditions

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Currently, the conventional sales model for a special machine is less transparent and poses risks for both direct and long distance sales. The price of used machines in this market can jump from several tens of thousands of US dollars to several million US dollars, depending on the condition and the original price. The validity of the technical condition data for a special machine, combined with the trust on counterparty is the main criterion for dealmaking in the market. Online lists and bulletins serve as the main communication channel between market participants, and they do not guarantee that the data conditions are correct or equipment is available in the first place.

Potential sales, lease and maintenance of special machinery specifically for construction, agriculture, and raw materials only reach $ 1 trillion per year, with new engine sales growing at about 6.5% per year. However, direct online sales without intermediaries amount to no more than 2% of the total market. The reason for this low sales volume is mainly due to the lack of trust between parties.

This confidence issue was solved by large industry auctions such as Ritchie Bros., Iron Planet and others. By saying that, using this auction ring does impose some restrictions on machine owners as well as logistics costs, as well as the cost of downtime and pre-sale preparation. According to him, there is no existing business model that solves the confidence issues that exist among market participants globally, but the solution is easily scalable, and ultimately, in one way or another, causing additional costs to buyers and sellers.

IronBlock solution



IronBlock is a decentralized platform for verification of machine conditions, optimization of maintenance services and ensures compliance with all contractual obligations for transactions between participants in the construction, mining and agricultural machinery markets. IronBlock's primary duty is to provide the necessary level of trust in information about traded equipment so that owners, leases and insurance companies, as well as buyers worldwide, can interact directly without intermediaries, without risk and with significant money and time savings. .

IronBlock provides solutions to two major global specialty machine market issues:

1. Proving the validity of information about the machine.
2. Guarantees of compliance with contractual obligations among participants.

Validity of equipment data
The solution is based on the uberization of machine maintenance and inspection services with the participation of local service centers and recording of information on the blockchain. Each service center must undergo a verification and selection process to obtain an IronBlock license. Quality and speed of order processing for certification and machine services directly affects the service center rankings and the total profitability of each transaction.

Guarantee of fulfillment of contractual obligations among participants (ESCROW). The use of IronBlock certificates and techpassports ensures compliance with contractual obligations with the help of licensed IronBlock agents locally, writing down and sealing requirements into smart contracts.

Our solution will make it possible to monitor transactions at all stages:

L / C for transactions
Logistics equipment;
Customs registration;
Legal support
To exercise control and compliance with contractual obligations, API access to the platform will be provided to the largest local, international logistics operators, insurance companies, customs brokers and other market ecosystem participants.

Certificate of equipment condition


The basic element of this platform is the trusted IronBlock electronic certificate, which is implemented in the intelligent blockover contract with Ethereal by using a distributed data storage technology. In the industrial machinery market, machinery inspection services are well developed. The average cost of such services is around 500-1000 Euro. Local service centers can provide such services, send their field teams to equipment locations everywhere, perform technical inspections. As a rule, clients are Buyers or Sellers who want to sell used equipment at a higher price, or vice versa. The IronBlock certificate has 3 levels of machine validation. One base and two additions.

To see an example of a published certificate, follow this link: http://www.machinefinder.com/eval/ a7adbe22c00b8ba392d7-126039

Certificate authenticity

Each certificate issued will be signed by a licensed service center, the certificate hash will be recorded in the Ethereum block, with all detailed information, including media files, placed in the distributed file storage system for the validity period of the Certificate. At the same time, during the validity of the Certificate, it is not possible to make changes, which guarantee its authenticity and protect against counterfeiting.

Certificate used

The certificate allows the buyer to verify the equipment data, and the seller proves its validity. That said, Owners can use it when publishing ads on any platform to confirm the authenticity and validity of the information presented in the equipment description. Buyers can also order certificates for each machine to be purchased. Leasing companies and owners of large equipment fleets can be far away and regularly receive reliable information about the condition of their equipment. The IronBlock certificate will also allow to use ESCROW services for special machine transactions using the IronBlock platform later on the phone.

Techpassport




Techpassport is designed to confirm the current state of the engine and control its condition, as well as to improve the quality of care in the long term. Machine maintenance frequency is done on average every 250-500 hours (average minimum every 2 months). IronBlock provides a global infrastructure for regular and high quality maintenance through a licensed local service center.

Authenticity of service history

Maintenance work information is recorded in blockchain, and detailed information is stored in a distributed file storage system. Thus the history of machine maintenance is automatically stored, throughout the operating period - even if owners and locations change.

Application

This technician solves the problem of trust and control over the condition of the machine in the long run, whether it is renting or renting machines. This solution allows leasing companies and machine owners to control the timeliness of maintenance, optimize costs while maintaining high quality standards, automated storage and maintenance service reporting.

In addition, by integrating it with IronBlock Market or other platforms, the current owner will be able to provide potential customers with access to additional information regarding technical circumstances. With the possibility of monitoring the status of machines through technology, it may be possible to negotiate equipment or rental sales in advance - before the sale begins, while minimizing downtime losses caused by production equipment issued for sale (placing them at auction and other offline platforms). This platform will provide access for manufacturers and engine distributors, to supply and purchase consumables and spare parts from them directly at the best price, thus optimizing routine maintenance costs.

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