AUTO BLOCK — Revolutionize The Automotive Sector

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. Our sales portal, autocoincars.com offers a huge choice of vehicles for sale by dealers that accept cryptocurrency as payment.

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.

PROBLEMS

• Buying Cars With Cryptocurrency

One of the biggest challenges facing Cryptocurrencies is mainstream adoption. Many of the projects within the space are building platforms for the future where there is no immediate use case. Auto Block has created a platform to be able to buy and sell vehicles using cryptocurrency without having to exchange them for fiat thus solving the user two problems.

The first, they do not have to go through a long process of exchanging crypto to fiat and having their assets slowly decrease through exchange and bank fees, and secondly, a platform where you can use your crypto assets in the ‘Real world’.
Crypto users desire anonymity and in many instances do not want to cash out as this attracts potential taxation issues. Buying cars with crypto solves this problem and allows the release of tax free funds.

• Finding Car Dealers That Accept Crypto

We have etablished that it is almost impossible to find cars for sale online that can be purchased using crypto. A handful of dealers claim to accept crypto but upon further investgation they are not fully prepared to transact through crypto. A demand exists and there is no supply.

• Access and Accuracy of Vehicle Data

The auto industry currently relies on monopolised data and valuation systems that are at best subject to external influences and manipulation [Valuations] and at worst are unavailable in detail to the public [Data].

The outdated infrastructure upon which these essential existing industry standard tools are built is actively impeding natural growth, particularly in the field of new vehicle sales in developing markets. Buyers research before buying.

The ability to harness this data will enable many use cases including and not limited to governments, insurance companies, auctioneers, law enforcement and national car registries.

• Access to and Accuracy of Vehicle Valuations

Where vehicle valuations exist in developed and mature markets they are supplied by commercial organisations that almost have a monopoly. There exists a need for a decentralised global database that gives users immediate access to a wide range of vehicle valuations by age, mileage, spec and location.

Currently this data is unavailable or fragmented and is consequently offering inaccurate and differing valuations

SOLUTIONS

Buying Cars With Cryptocurrency

The Autocoin offers a simple and highly efficient transaction alternative that will become the automotive industry standard cryptocurrency. Thanks to its’ ease of use, acceptance, flexibility and transparency, The Autocoin will become the currency of choice by both car dealer and peer-to-peer vehicle transactions.

The team behind The Autocoin have realised the potential of introducing cryptocurrency to the automotive industry, and aim to capitalise on the benefits of simplifying vehicle transactions for buyers and sellers.

THE ECO-SYSTEM

At the heart of AutoBlock is our hybrid blockchain technology, utilizing the best of public and private blockchains. This will allow for the seamless transfer of vehicle data using smart contracts which forms the foundation of our fair vehicle valuations platform; purchasing a car through the portal, transferring the funds instantly and cashing out the proceeds in either fiat, crypto or both via our internal exchange.

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CORE BENEFITS OF USING THE AUTOCOIN CURRENCY

For Buyers

• Ability to purchase vehicles worldwide using The Autocoin

• Significantly lower transaction fees – fast and easy payment without add-on bank charges.

• Immediate settlement – no waiting period for transactions to mature (i.e., instant availability).

• Security against identity theft – no credit card or bank details being stored by third parties.

• Anonymity – highly desirable for high bet worth individuals.

• Release of crypto assets into the mainstream with minimal exposure and taxation issues.

• The highest level of fraud prevention – thanks to the platform’s utilisation of blockchain technology, Autocoin has reduced the risks of counterfeits and chargebacks to zero.

• Easy international payments unencumbered by protracted exchange rate considerations.

• Significant choice of vehicles offered for sale via the website autocoincars.com

For Sellers

• Free exposure of vehicles offered for sale worldwide via autocoincars.com

• Fast and easy transaction

• No cost entry to accept The Autocoin as a payment solution

• Lower transaction fees

• Easy worldwide payment acceptance

• Ability to retain The Autocoin in digital wallet for investment or other purchases or option to convert to fiat upon transaction completion

• Team of expert support and advice staff available

THE PAYMENT CARD

• Card balance in USD, EURO

• Fast and easy loan cash-in

• Repay your loan

Our dedicated AutoCoin card will allow quick and easy secure transactions for not only car purchase but also repairs and maintenance, monthly leasing payments with a vision towards fuel and electric charging points.

TOKEN ECONOMICS

Token Sale Details

There will be a total of 400 Million Autocoins, of which 220 Million (55%) will be available at all stages of the token sale.

1 Autocoin = $0.25

Private sale: Insert dates

Pre-ICO: Insert dates

Crowdsale: Insert dates

Soft Cap: 5,000 Eth

Hard Cap: 40,000 Eth

Token Functions

Target

Soft Cap: 5,000 ETH Hard Cap: 40,000