Frequently Asked Questions

• What's IOV Blockchain

  IOV Blockchain is a blockchain value public chain in IOV-Block Chain ecosystem, which has reached deep strategic cooperation with YUTU, an automotive social sharing platform of Alibaba. The vision of IOV Blockchain is to overturn traditional automotive Internet unicorn, return the big data digital property value of car user's social behavior, car life consumption behavior and vehicle operation information to car user contributor. The short-term goal of IOV Blockchain is guide over 60 million car owners into IOV-Block Chain application scene, while the long-term goal is to provide service for 1.3 billion car users and build up world IOV-Block Chain super computer point, thus create a reliable, low transaction cost, safe car life environment where personal contributors and commercial service providers can both be active.

• What's IOV token? What are the names, symbols, and type of the tokens respectively?

  IOV is the only official token of IOV Blockchain issued by Singpore AUH foundation. The symbol is “IOV”, “Internet of Vehicle token” for short. The total amount of IOV is 10 billion and never add extra quantity. IOV is the attached property of vehicle and car-life token for car user. The IOV token is a functional token based on Ethereum ERC20, with a safe non-tampered attribute.

• How will the funds be used, and by whom?

  The presale fund shall be used on the IOV Blockchain project, to promote the platform launch process, enhance and support the business and technical partner development. Funds are supervised, managed and used by the project foundation.

• Which currency can I use to contribute?

  ETH、BTC、USDT etc. At this stage, we have no plans yet to support other currencies.

• When will the token distributed to contributors?

  The IOV token is estimated to be listed in bitcoin exchange at suitable time and be issued in next 10 work days.

• What kind of blockchain does IOV Blockchain use and support?

  The technology development of IOV Blockchain will be devided into two stages. In the first stage, it will develop a set of complete IOV motivation system based on Ethereum and EOS platform. In the second stage, it will develop high concurrency application in IOV Blockchain flood chain that can better support IOV vertical area. At the same time, it will adopt cross chain technology to connect blockchain platform IOV Blockchain in IOV vertical area with general blockchain platform, thus makes IOV Blockchain able to simultaneously pay more attention to IOV vertical area and transfer user's value to popular common chain.

• What are the community projects announced by YUTU and IOV Blockchain?

  The project is to invite car users as contributors of car life behavior data. When users contribute car life social, car life consumption and vehicle information, they can gain digital property that can be circulated and used in IOV-Block chain ecosystem.

• Is IOV Blockchain legal? Where can I verify information about IOV Blockchain company, team and advisors?

  IOV Blockchain is operated and supervised by AUH--a legal, non-profit foundation which registered in Singapore. It is also being guided and supervised by international finance committee and international technology committee. The registered number of AUH foundation is 201804981C.You can check it through Singapore government official commercial registration website: www.acra.gov.sg.
  
  The personal information of the project team and what we have done in the past could be found on Google or Baidu.
  
  We are glade to discuss any concerns you may have.
  
  You are welcome to meet with our team in Singapore with an appointment beforehand.

• How can I trust and evaluate the market value of IOV Blockchain?

  Firstly, blockchain technology is a kind of technology that as revolutionary as Internet. It concentrates more on assignment of physical economy and makes it more valuable in market.
  
  Once user enter AYocar APP's IOV Blockchain vehicle mining field and participate in social, consumption behavior contribution or turn on vehicle to contribute vehicle operation information, they will gain accumulation of digital property and fair digital property motivation.
  
  According to the statistic, there are more than 100 Automotive Internet platforms that possess certain scale in the world. They gain market value which generated by online advertisement, e-commerce and other things over 600 billion dollars every year. As the process that IOV-Block Chain overturns traditional centralized platform accelerates, IOV Blockchain will transfer traditional Internet's over 600 billion dollars market value to 10 billion IOV token and distribute it to car users on a fair base in a long term.

• Since there are many self-claimed IOV tokens in the market, how can we know their value and whether they are genuine?

  The IOV Blockchain Team has noticed the messy and complicated situation in the market, which, on the other hand, also indicates that with the jointed efforts from the industry, IOV block chain has been able demonstrate its great market value. We welcome any aircoin projects to engage in the application of IOV block chain technology. However, we need to point out that not all aircoin that newsjacks Internet of Vehicles is IOV.
  
  We would like to kindly remind IOV Blockchain users that the true value of IOV block chain technology is the application of such technology in creative scenes such as socialization between car users, e-commerce consumptions and car performance data services. Only applications backed by large legions of users (such as participation by car-life sharing contributors, auto-life related e-commerce consumption contributors and driving data contributors) have broader market value. IOV Blockchain team has been practicing this application in the global automobile industry with more than 68 million users.
  
  We'd like to send out a reminder here: any practice that inserts external devices in vehicle's OBD and charging ports to change their functions prior to block chain technology's maturity and without technical cooperation and exploration with finished car manufacturers, are not safe. So far, no reliable finished car manufacturer has claimed to be responsible to for the safety of such practices.