Blockchain is a very promising technology which will revolutionize the mankind. It's immutible, incorruptible and unhackable nature makes it more superior than any other technology. Thus many Institutions began exploring the implementation of blockchain into their core applications. Blockchain implementation solves all issues related to every sphere of our society.
Even though the blockchain is a very superior technology but still there is no practice application present in the real world. Thanks to Autoblock ICO project which is implementing blockchain in the automotive sector.
Presently the automotive industry is facing lot of problems which needs to be addressed urgently. According to a report there are over 6,000 car dealers struggling to sale the new/used cars alone in United kingdom. Due to the existence of monopolies and centralized systems in the market, large number of car dealers struggles a lot to sale the cars. Manipulated valuations and outdated business models creates frustrations in the market participants which needs to be fixed urgently.
Let's discuss, how Autoblock project will address these issues.
Project objective
The main aim of the project is to create a blockchain powered decentralized marketplace for automotive industry. Where car dealers can freely list and advertise on the global platform; which helps to increase their sales. Market participants can make transactions in crypto as well as in fiat currency at low fee.
Principle of operation
In order to address the above problems AutoBlock provides blockchain solution in two ways:
• Purchase of cars with crypto
• Access to authenticated vehicle data with blockchain
Purchase of cars with crypto opens the door for new possibilities to drive the sale. With the creation of POS systems, wallets and exchanges make it possible to accept fiat and crypto currency for the sale of cars. Thus buyers and sellers seamlessly make transactions without any issues.
Benefits for buyers:
• Buyers can purchase vehicles worldwide without international payment system issues
• No need to convert the currencies; as sellers accept all types of currencies
• Cryptocurrencies provide faster, reliable, transparent, secured and low cost payment option
• High level of fraud protection
• Payments will be processed and settled instantly
• Experts team and staff guidance is available
Benefits for sellers:
• Sellers get faster and low cost transactions
• Sellers get free exposure to their services/offers worldwide
• Worldwide payment acceptance without any country barriers
• With AutoBlock platform, sellers can able to accept any type of currencies
• They can convert their crypto payments into any other currencies including fiat currency at any time
• Sellers get used to new technological payment solutions
• Instant clearance of funds
AutoBlock Exchange provides a place to exchange their currencies into other currencies. AutoCoin acts as a base for every operation on the exchange platform.
Access to authenticated vehicle data provides information about vehicles through blockchain. Used vehicles valuated data such as model, age, mileage, insurance details, repair details, physical damage and along with this users can get where to claim high insurance, profitable buying/selling locations, best repair places etc. Thus users get authenticated data on the platform. This AutoBlock's data system can also be applicable to Government agencies, insurance, valuation and manufacturing sectors.
ICO details and timelines
• Token name: Auto Coin
• Token ticker: ATC
• Token price: 1 ATC = $0.25
• Total tokens: 400 million
• Softcap: 5,000 ETH
• Hardcap: 40,000 ETH
Token distribution
Roadmap
Conclusion
AutoBlock will surely revolutionize the automotive industry. It provides blockchain powered solution to auto industry problems. Thus car dealers can list freely on the global platform to drive the sales. Sellers can now accept any type of currencies which makes convenient for every buyers to buy vehicles. Authenticated vehicle data on blockchain provides transparency and trust on the platform. It is a very promising project to invest.
Learn more about AutoBlock:
Website: https://www.theautoblock.com
Read Whitepaper: https://www.theautoblock.com/white-paper
Telegram: https://t.me/autoblockofficial
Facebook: https://www.facebook.com/AutoBlockX/
Twitter: https://twitter.com/AutoBlockX
Medium: https://medium.com/@autoblockx
LinkedIn: https://www.linkedin.com/company/autoblock/
Reddit: https://www.reddit.com/AutoBlockX
GitHub: https://github.com/autoblockx/
About Author:
Bitcointalk username: Abhijeetcg
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1676105;sa=summary
ETH address: 0x96e95a1F40cf5a50178053740ADE18046815362d
