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Wednesday, July 11, 2018

AUTOBLOCK - Providing Safe Automotive Industry Services In Cryptocurrency

Auto Block

Hello everyone, in this new post I would like to introduce about Autoblock project, and for more details let's just go to the following discussion:

Autoblock Facilitates the purchase, assessment and specification of vehicles worldwide, accessing chain chain of Blockchain products that will become inseparable and standard automotive industry. Auto Block also offers a unique set of products that are not limited to cryptocurrency which not only helps you in making safe and fast vehicle transactions but will also give you full access to the data, history and valuation of the purchased vehicle. Provide transparency to buyers, as well as sellers.

The goal of the Auto Block project is to provide safe automotive industry services on Cryptocurrency that will be adopted by car dealerships worldwide. Which will be expected as a defacto payment solution for car buyers cryptocurrency through p2p platform, autocoincars.com.

The provision of decentralized data & information available in the automotive industry will provide the most accurate car assessment tool.

AutoBlock P2p Platform
Autocoincars.com is a global platform where car dealers or private individuals can offer their cars for sale to crypto user audiences around the world. Transaction through Auto Block exchange will convert crypto to AutoCoin.

The platform will also provide free access to car dealers who accept AutoCoin. A large number of British sports, performance, classic and prestige dealers have expressed not only interest but are keenly committed to using payments through the AutoCoin Token.

Advantages of the AutoBlock Platform
used car sales have risen significantly over the past few years and global car sales are at their all-time high, industry growth has begun to slow. There is a clear need for a revolution that addresses the key issues of the sector such as Leasing Companies, Insurance Companies, Car Dealers, and Government Agencies.

Leasing Company
In general, many users of crypto will do the rental car they will pay the administrative fee in the form of fiat money or use a debit card. However, using the Auto Coin payment option will overcome fluctuating currency value ambitions. because, it can be easily fixed by ATC payment conversions.

Insurance company
According to a recent survey by McKinsey & Company, about 5- 10% of global insurance claims are fraudulent. This is even more prevalent in the non-health sector, where spending exceeds $ 40 billion annually. Insurance companies spend more than 40% of their costs to appeal and claim management. By having a decentralized data repository, insurance companies will be able to access data that will help them reduce costs significantly.

Dealer Company
Dealers can use Auto Coin to reduce fraudulent transactions. Globally, credit card fraud and over 70% of identity accounts do their data fraud so secure payments will reduce the risk for operators. In addition, an integrated data repository will give dealers access to important and in-depth information.

Government agencies
Data on this car will greatly help government agencies, who will be able to monitor, maintain and track the history of the vehicle better. It can be used for a variety of purposes including vehicle withdrawal cases, car registries, police and other law enforcement purposes

Getting to Know the AutoCoin Technology (ATC)
For each new vehicle in the system, Assets will be provided. Each Asset consists of all relevant data associated with each vehicle. To begin with, all these data will be collected from Manufacturers and Government agencies and then stored in Hyperledger Blockchain.

Based on data stored in each Asset (which can not be modified due to the nature of Blockchain), the Evaluation System will assess the data and calculate the correct and unbiased judgment of each vehicle. Assessment will be solved by the algorithm.

Payment card
AutoCoin cards will enable secure transactions fast and easy & not only for car purchases but also repairs and maintenance, monthly rental payments with vision for fuel and electric charging points.

AutoCoin Fictit (ATC)
By using Ethereum as the base technology & future project development they will bring this token to market and make it the dominant cryptocurrency in the automotive industry. Then, All Autocoin ERC-20 will be redeemed with Autocoin in original blockchain AutoBlock with 1: 1 ratio.

Proof Of Stake (Pos) - Autocoin uses the Proof-of-Stake algorithm in which Autocoin owned by the user reflects the user's mining power. The more users have Autocoin (ATC) the higher the possibility of users processing the next block and receiving the transaction fee as a reward.

Mining - You do not need any fancy devices - just hosted servers and at least 1,000 Autocoin. You can also run a public mining pool and ask users to rent their funds to you, increasing your profits and sharing them with the community.

Transaction Fees - The minimum charge for funds transfer is 0.001 Autocoin

Token Sales Details
There will be a total of 400 Million Autocoins, of which 220 Million (55%) will be available at all stages of token sales.

Token Functions

  • TargetSoft Cap: 5,000 ETH Hard Cap: 40,000
  • Token NatureAutocoin will initially be ERC-20 tokens. Once our main net is live, we will be swapping all ERC-20 ATC tokens to ATC tokens on our native Blockchain on a 1:1 ratio.
  • Token TypeAutocoin will be a Security token. Token holders will be entitled to a share of any profits made. Dividends will be paid out as a ratio of tokens held: total tokens.
  • Number of TokensThere will only ever be 400 Million tokens created.
  • Value of TokenThe token price will be 1 ATC = $0.25. The Ethereum rate will be pegged once the sale has started.
  • Currencies AcceptedYou can purchase Autocoin with Ethereum, Bitcoin or Litecoin.

Allocation of Tokens

To contribute and Know the progress of this offer, you may visit some of the following Links:

BitCointalk username: Aray80

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