AutoBay – buy, sell and auction cars with cryptocurrency

I live in a country where is very popular to buy used cars. Whether you are a student, looking for first car or someone who is buying a new car because the old one broke down. It is extremely hard when you decide to go on a ”hunt” for a decent car. This hunt sometimes demands from you to drive across the country just to see one car and it is not necessary that you find a right car, right away. Despite all pictures which are added to an ad, you can just expect that you will discover a different reality in person.

Sometimes cars are not in a condition, which was shown in ad. Seller says that he fixed some things, that he really did not. It is a shame, when you must drive all this way, just to experience disappointment. But this is only one problem, one piece of this big car industry puzzle. It all would be better if buying cars would be possible on blockchain technology and this is going to possible. With AutoBay, first ecommerce platform its kind.

autobay
Source – https://www.autobay.io

AutoBay, first ecommerce platform to sell, buy and auction cars

AutoBay is the first ecommerce platform, where people will be able to: buy, sell and auction cars – and be able to pay or receive cryptocurrency. This platform based on the Ethereum blockchain. Their vision is to legitimate payments using cryptocurrency to pay for commodities:

  • Bitcoin (BTC),
  • Ethereum (ETH),
  • Autobay Tokens (ABS).

autobay

Source – https://www.autobay.io

Platfrom carries a lot of features that could be interesting for future car sellers of for those who are searching for a car. First things first, platform is going to be fully decentralized and it’s really easy to use and understand. When buying a car, one will have to follow only three simple steps:

  • BROWSE FOR A CAR – with using filters, it will be possible to choose price range, car brand, model, year… options whether you are looking for a new or used car…
  • WHEN YOU FIND A RIGHT CAR… – you will simply click on a button that says, ‘I’m interested’, then both parties – seller and buyer, will be able to see each other’s profile information’s. Like this, it will be possible for buyer to see reviews for this seller, from people who have bought cars from him in the past.
  • AGREEMENT ON PURCHASE – Paying for bought car will be possible with clicking on ‘I’m interested’ button, selecting specific car and through an embedded wallet in the Dapp, buyer will create advanced deposit or full payment. With click on the button ‘Buy’, buyer will create Smart Contract in Ethereum Blockchain, which will represent as a payment for the car.

autobay

Source – https://www.autobay.io

More about buying, selling and auctioning carsm you can read in their whitepaper: https://www.autobay.io/whitepaper

Looking into vehicle history

With vehicle history verification, the buyer will be always sure about car’s history. This will eliminate all kinds of fraud that is currently happening in automotive market. Every transactions that is going to be made for purpose of buying a car, will be a record of proof of ownership.

I think this is a great feature of this platform, because nowadays when you are buying car, you can never know, what has been really repaired on it and what hasn’t.

Revenues inside AutoBay platform

Everyone who will publish their vehicles for sale is going to be divided into four various categories. Bronze, silver, gold, platinum. These categories are divided, because for let say bronze category, publisher won’t have to pay fee, but that also means his ad for a car will be visible less time as ad from platinum publisher, who has payed a fee.

Here you can find more about Autobay: https://www.autobay.io

AutoBay Token (ABX)

Tokens (ABX) are built on the ERC Standard based Ethereum Blockchain. Within the platform, users will be only able to use bitcoin, ethereum and abx; as I said before.

autobay

Source – https://www.autobay.io


Bitcointalk account: https://bitcointalk.org/index.php?action=profile;u=1844751;sa=summary

 

 

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