On October 23rd, ArcBlock attended China-based car-sharing leader GoFun's strategic event titled "GoFun Connect: Innovate, Experience and Empower" in Beijing, China. The GoFun event was focused on announcing new strategic products, opportunities, and partnerships for GoFun. With these announcements, GoFun delivered its goals and objectives to improve user experiences and service capabilities for partners and OEMs to increase revenue opportunities and operational efficiency.

During the event, ArcBlock and its blockchain development platform, were announced as GoFun's strategic partner and platform to support their upcoming blockchain initiatives.

One of the major announcements given by GoFun CEO Tan Wei was the official launch of the GoFun Connect System. The new Connect System covers the entire life cycle of vehicles from vehicle production, operation, after-vehicle market services, finance, insurance, used car trading, and so on. The new Connect System delivers a set of commercial application systems that integrate hardware, software, and operational management capabilities into a single system.

The new Connect System includes:

• hardware services including T-box, ID, DMS System, and service recorders;
• software systems that integrate big data plus artificial intelligence, SaaS capabilities that allow individuals to crowdsource their vehicles easily;
• and new operational management capabilities that include new management systems, integrated best practices and compliance features, and service systems that support GoFun Travel, and the operating system of experience and resources.

With GoFun Connect, through a variety of franchise modes, dealers can easily switch to mobile travel tracks, empower traditional 4S stores, increase sales and improve operational efficiency, as well as provide more accurate delivery and test drive platforms for OEMs.

Several of the core objectives of Connect is to move products closer to consumers, achieve better vehicle listing and display effects, and increase sales. In addition, the Connect System makes it easier for finance companies, insurance companies, used car companies, and after-market service providers to redistribute property rights. Also, UBI-based vehicle asset insurance is released, freeing up idle product capacity to achieve stable, reliable, sustained revenue. For individual car owners, they can park their vehicles in idle, and earn extra income so that "depreciation" becomes "value added."

In the To B system, blockchain technology is being adopted. During the event, CEO Tan Wei revealed that GoFun had already been researching and exploring how to use blockchain technology to ensure the authenticity and non-tamperability of its platform users' vehicles and travel data, laying the foundation for enhanced data services, user capabilities and more in the months and years ahead.

"After contacting and engaging the ArcBlock team this year to learn about their blockchain platform technology, we were very impressed and we have decided to work together."

The new platform will expand to all ecosystem service providers, empower the industry financial risk control and credit deposit. Tan Wei said that GoFun Travel and GoFun Connect will work with partners to reshape the automotive industry chain, tap potential value, and achieve multi-distribution of benefits. At the same time, become the Internet of Vehicles as a technology carrier that connects people, vehicles, and services together into a single platform using best-in-breed technologies like blockchain that empower both the users and service providers.

GoFun travel is a shared travel platform for the First Automobile Group. Since its launch in the past three years, the number of registered users has reached 12 million. As of September this year, its active users reached 2.062 million; the on-line operating vehicles have more than 50 brands and 200 cars. The business covers 40 self-operated cities (25 cities are profitable) and 40 franchise cities (29 cities profit).