"Blockchain and AI technologies propel vehicular transformation through trust-based innovation, according to Charancha"
Charancha Embraces AI and Blockchain to Revolutionize the Used Car Market
Charancha, a mobility platform company, is set to create a new ecosystem based on data and trust. With a strong offline infrastructure, data assets, and brand reliability provided by its mother company, Deutsch Automobile Group, Charancha is poised to redefine the future of the used car market.
Charancha's service, Charancha EW, offers a unique guarantee. For up to six months or 10,000 kilometers after purchase, customers are covered for up to 5 million won of repair costs. This extensive coverage is made possible through Charancha EW's standardized procedure of reception, assessment, repair, and reimbursement.
The Global Mobility Asset Marketplace, a central component of Charancha's vision, extends beyond a sales platform. Leveraging blockchain technology and AI-powered trust, it aims to drive the mobility shift.
Charancha's partnership with global blockchain main net Aptos enhances Milelog's competitiveness by securing the integrity of data. Milelog, a service by Charancha, is a platform that transforms driving moments into data assets, recorded on the blockchain to prevent tampering.
The Digital Vehicle Passport, another innovative system by Charancha, records a car's entire life cycle data on the blockchain. This aims to prevent underlying problems of the used car market.
Charancha's AI Agent, a car-dedicated intelligent consultant, learns large data such as maintenance, finance, and warranty. Using multiagent architecture and retrieval-augmented generation (RAG), it offers customized and trustworthy answers.
Charancha operates nine global brands' dealerships, including BMW and Mini, Porsche, Audi, Lamborghini, Aston Martin, McLaren, and BYD. Charancha EW is available at 380 Speedmate service centers across the country, offering CARE6, a basic dealer's warranty, and CARE+, an extended warranty.
In the past three months, Milelog has shown a notable user retention rate of 41.3 percent, with 84.3 percent being heavy users. Charancha logged 66.5 billion won ($48 million) in revenue last year, up 84 percent on year.
Charancha aims to become a "trust-based mobility tech firm" that presents a new standard for mobility asset transactions. By accumulating reliable data, settling services, commercializing the Digital Vehicle Passport, and establishing a global mobility asset trading platform, Charancha looks to redefine the future of the used car market through artificial intelligence and blockchain technologies.
The used car market will be at the center of new growth opportunities and innovation. Charancha's vision extends beyond a revolution of the used car platform, aiming to establish a positive cycle centered around data and trust.
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