What is Parts Detect?
Parts Detect is a founder funded mobile app for mechanics, inspired by mechanics. It was created to simplify aftermarket auto parts logistics. Version 1.0 of the Parts Detect app was launched as a fully functional mobile app in 2014 on pre-blockchain technology. Since 2014, Parts Detect has formed partnerships with, among others, AutoZone and Advance Auto Parts in use of Parts Detect’s Version 1.0 mobile app.
Goal of the ICO?
Parts Detect seeks to complete its mission by migrating its Version 1.0 mobile app to the blockchain and then delivering Parts Detect’s efficiencies throughout the automotive aftermarket. Specifically, Parts Detect intends to launch and implement a decentralized application (the “Parts Detect DApp”) in September 2018.
By placing the Parts Detect concept on a blockchain backbone, the following Web 3.0 benefits will be added to the Parts Detect model:
Efficiency benefits include: Accelerated transaction times and reduced transaction fees (disintermediation of middlemen (banks, merchant accounts, payment processors) in the relationship between a mechanic and a parts supplier. Faster and cheaper vehicle repairs. Disintermediation of middlemen and ending the credit card processing paradigm.
Security benefits in include: Greater protection of privacy (credit card payments will be replaced by cryptocurrency). Higher resistance to tampering and hacking (hash cryptography combined with a powerful consensus algorithm) and no single point of failure (a decentralized ledger).
Inherent Advantages & Growth Opportunities
As in any effort, our strength is lies in our team and our partners. Leveraging hands on expertise in the auto repair industry and subject matter expertise in parts logistics and related technology, the founding team of Parts Detect spared no time in building relationships with the industries largest, national parts vendors.
In effort to articulate our goals we've provided a white paper for review,
Global Auto Aftermarket in Billions USD, 2016
Projected Global in Billions USD, 2020
Years in the Auto Industry
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