Autobay is the first ecommerce platform based on the Ethereum blockchain that allows users to sell, buy and auction vehicles using cryptocurrencies as payment method. Autobay's main objective is to create legitimacy to the cryptocurrency market by allowing the use of Bitcoins (BTC), Ethereum (ETH) and Autobay Tokens (ABX) as financial assets to acquire goods (cars, trucks and motorcycles).
Autobay’s decentralized e-commerce platform (Autobay.io) comes to disrupt the outdated purchasing and payment methods of the automotive industry allowing users to buy new and used vehicles with cryptocurrencies.
“We are excited to launch Autobay, adding value to the cryptocurrency market by creating an e-commerce platform that exclusively accepts cryptocurrency as a method of payment.” said Alejo Serrano, CEO and CoFounder of Autobay. “When buying a car, almost every single transaction has got a physical movement of cash in any extent with the uncertainties and insecurities this involves”.
To better understand the scope of the car industry, car manufacturers have had over $1.7 Trillon dollars (US) in sales in 2017 worldwide and the industry has been growing at an even rate for the last 20 years. This market is largely complemented by the sales of used car. Only in the in the United States around 100,000 used cars are sold every day to people who pay for them entirely in cash, creating a $500 Bn. Dollar market. “Buying a car should be one of the most exciting experience anyone can go through. We should take the stressful burden of carrying our savings in our pockets away from the process and now thanks to the blockchain technology we can, that was our main focus while developing Autobay.” Alejo Serrano said.
Autobay features an e-commerce platform were users can post cars, motorcycles and trucks that they are willing to sell. What makes Autobay different from other existing platforms is that it allows its users to pay for the vehicles from within the platform, removing all cash transactions from the purchasing process. After inspecting the vehicle the buyer is intending to purchase, he will be able to give an advance payment or directly pay for the vehicle from their smartphone through the embedded wallet within Autobay’s Decentralized mobile application. The main feature the Autobay’s Dapp has to offer is a distinctive payment method from the ones we are used to, allowing the buyer to pay with cryptocurrencies, choosing between Bitcoins (BTC), Ethereum (ETH) or Autobay Tokens (ABX) and creating a Smart Contract that registers not only the transaction but creates a solid registry of the vehicle.
Yet another feature that differenciates Autobay from existing e-commerce´s is the fact that there will be a financing platform embedded within Autobay Dapp, which will allow users that haven´t got enough capital to purchase a vehicle, to take a loan from a third party blockchain based lending company. This will not only level the ground between different countries and social backgrounds allowing more people the access to credit at a standardized rate, far from the ones that can be found across the world in the automotive market, but it will also enlarge the market as private sellers will be able to sell their vehicles through a financing system up to date only available in dealerships. At the moment Autobay is in conversation with several such companies in order to create a partnership that will create synergy between both.
Autobay will also features Auction event that will widen the offer and possibilities for buyers, again allowing them to bid with cryptocurrencies as a payment method. As an example of such, Autobay has created a novel reward program that will be implemented in the upcoming Token Sale starting May 5th. Were contributors purchasing Autobay Tokens during the PreSale and ICO will automatically participate in a Reward Auction (with no further contribution needed), were the highest contributor will win one of many listed cars which will vary according to the total Capital raised in the Token Sale, the higher the cap, the more expensive the rewarded car.
Since December 2017 we have seen how the value of cryptocurrencies suffered a setback and its fluctuation intensified. Having an e-commerce platform that allows goods to be purchased in one of the largest markets in the world will help create a real demand for the use of digital currencies, not only as a speculation tool for investors, but as a financial asset with real value to the market.
AutoBay ABX Token ICO Details
The ABX token is an Ethereum token based on the ERC20 standard.
The token is valued at 1 ABX=0.0001 ETH.
The payment methods you can use include BTC and ETH.
The public sale is set to start on 10th July 2018
The public sale will end on 23rd July 2018.
For more information, please visit the link below:
Author: anisah fitri
Website : https://www.autobay.io/
Whitepaper : https://www.autobay.io/whitepaper
Facebook : https://www.facebook.com/Autobay.io/
Twitter : https://twitter.com/Autobayio
Telegram: https://t.me/joinchat/ITvfuxJDzSr2ahw5Mvh-Lg
Ann Thread : https://bitcointalk.org/index.php?topic=3327461
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1870804
mytherwallet: 0xd683D30EF6322AaCe8BAf6CB7cb5a93853ac0B51
