SparesHub is building a blockchain-based platform for automobile maintenance industry. The platform would store the information of the movement of automobile parts through the supply chain on an immutable blockchain. The automobile part manufacturers, distributors and retailers would be part of this private consortium based blockchain. Car owners can check the authenticity and complete provenance of the car parts they buy on SparesHub’s blockchain platform. This will help fight the multi-billion dollar fake and counterfeit automobile parts industry throughout the world. Apart from this, customers will also be able to buy car parts, book car services from a SparesHub certified workshop and avail services of the multiple marketplace participants on the same platform. SparesHub’s blockchain platform would be using SparesHub tokens to enable transaction in the internal economy of the platform. SparesHub is raising $25 million through the ICO.
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