Auto Block solves problems of buying cars!
The purpose of the The Auto Block project is to deliver a secure automotive industry dedicated cryptocurrency that will be adopted by car dealers worldwide as the defacto payment solution for cryptocurrency car buyers.
An online research shows that over a million automobiles are been used around the world for both personal and commercial purposes with over 15 vehicles manufacturing companies producing millions of cars to meet its ever-growing demand each year, but Overtime the demand for automobiles by individuals has been rocked with several challenges such as :
- Currency conversion challenges when buying automobiles outside a particular region.
- Cases of payment diversions by hackers during an online transaction with dealers.
- Due to the poor usage/acceptance of cryptocurrencies as a mean of payment for major products and services has narrowed the alternative for payment to just fiat alone as in the case of vehicles purchase.
- Poor access to accurate data of fairly used cars.
Decentralising the supply of data and information available within the automotive industry and offering the most accurate and live car valuation tool, car dealers and buyers will have a 21st Century ‘one stop’ solution for vehicle purchase, data and valuation access.
The key top features of the Auto Coin are:
· Intuitive POS handheld payment digesting device
· Capability to retain money in Auto Coin or convert to fiat currency
· Money transformed will end up being equivalent to the existing Bitcoin price of $ or £
· Presents a Times quantity of benefits in the type of Car Gold coin to those that adopt it in its first stages
The project generates a huge database of cars, which take into account all the data about the vehicle, from the state of the car and the history of the owners, to the verification of documents and assemblies. Such a thorough check will help users avoid fraud and purchase a quality legalized car.
To verify the car, a number of procedures have been developed, namely :
• Verification of VIN code and units
• Checking the technical condition of cars and documents
• Comparison of the car with a reference sample that meets the factory quality standards
• Check for fuel consumption, carbon dioxide emission, etc.
The cryptocurrency of this platform is known as Autocoin which was created to alleviate problems regarding payments in the automotive industry that is usually very risky by reducing transaction costs, ability to make secure payments quickly whether locally or internationally with reasonable ease.
• Token: AUTO
• ICO price: 1 AUTO = 0.00025 ETH;
• Platform: Ethereum;
• Method of payment: ETH;
• Min. investment: 0.20 ETH;
• Softcap: 5,000 ETH;
• Hardcup: 40,000 ETH.
The Auto Block would bring a positive change in the auto industry, leading to more profit and now cryptocurrency can be used directly in purchasing cars. The auto industry would be safer, more secure and delivery of vehicles would be timely all over the world. I strongly encourage partnership with the Auto Block.
In the roadmap plans launch of listing on crypto-exchange exchanges, creation of electronic wallet for transactions and development of chain lock. By the fourth quarter of 2018, an open download of the mobile version of the project with full functionality starts.
By the end of 2018, the expansion of the project will affect the Indian and South African markets. At the same time, the management will launch the alpha version of the payment system. The project aims to occupy 12% of the world market of secondary car sales by 2022. In case of successful investment, these plans can be implemented.