Auto Block – enabling people to buy & sell cars with cryptocurrency

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About

The Auto Block offers a unique set of products which will align cryptocurrency with the mainstream automotive industry by making vehicle transactions secure, fast while also giving you full access to the purchased vehicle’s historical data, NVD (New vehicle data), and valuations. Providing transparency to the buyer, as well as the seller. A car sales portal for car dealers that accept the AutoCoin to advertise their stock free of charge, opening up new markets for them. Initially, prestige, performance and classic cars being transacted across the globe using AutoCoin, followed en masse by volume car dealers. Set to revolutionize used car valuations and vehicle data, Auto Block’s mission is to serve professionals such as insurance companies, car dealers and leasing companies in the motor industry with accurate and easy access to data and valuations. The Blockchain technology used to gather the real-time valuations with the help of live data will result in a rich database of all vehicle specifications which exist throughout the world.

Problem & Solution

Problem. The auto industry currently relies on monopolised data and valuation systems that are at best subject to external influences, manipulation of valuations and at worst are unavailable in detail to the public at all. This outdated infrastructure is actively impeding natural growth, particularly in the field of new vehicle sales in developing markets.

Solution. Buying Cars With Crypto. The team is building a seamless POS system and a bespoke exchange, developed specifically for car dealers to allow them to easily accept any currency, crypto or not, with a significantly lower interest rate, combined with the ability to cash-out via any currency, breaking down traditional trading issues.

Technology

The Auto Block will operate on two seperate Blockchains to have full optimization and throughput. The Auto Block will be running on the HyperLedger Fabric as a private Blockchain to store data and our proprietary fork of the Waves Blockchain to conduct transactions. The token sale will be conducted on the Ethereum Blockchain and all ATC tokens will be ERC-20. Once The Auto Block mainnet is live, all tokens will be swapped for our native ATC token on a 1:1 ratio.

Auto Coin and its use

  • Significantly lower transaction fees – you pay with no add-on bank charges.
  • Security against Identity Theft. No credit card or bank details being stored by 3rd parties.
  • Easy International payments that do not require lengthy and protracted exchange rate considerations.
  • Very highest level of fraud prevention. TheAutoCoin utilises Block Chain technology and ensures that counterfeits and chargebacks are not possible.

Token Sale

There will be a total of 400 Million Autocoins, of which 220 Million (55%) will be available at all stages of the token sale. The base price is 1 ATC = $0.25. Any unsold tokens will be airdropped to contributors fairly, based on the ratio Amount invested: Total amount invested. Soft Cap: 5,000 Eth Hard Cap: 40,000 Eth. Start: 25.09.2018 (9:00 AM GMT). End: 20.11.2018 (9:00 AM GMT). The cryptocurrencies accepted: ETH, BTC, BCH, LTC. The team’s tokens will be locked up for 6 months, and will be released on a quarterly basis over the period of 2 years (non-core team members) and 3 years (core team members). The 6 months will start upon a successful STO and when tokens are distributed to investors. Every quarter after the initial 6 months the team will be released 1/8th or 1/12th of their tokens.

For more information about Auto Block access the link whitepaper and Auto Block.

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