AUTOBLOCK

AutoBlock Project Overview

AutoBlock is a suite of products including cryptocurrency that gives a control of vehicle purchases, data and valuations to the individual. The project is aiming to provide cryptocurrency destined for the automotive industry which will permit to make vehicle transactions fast, secure and transparent.

It will function by on the basis of the platform Autocoincars.com, a website allowing car dealers and private car users to sell their vehicles. Transactions will be performed through the exchange of the Auto Block, converting their cryptocurrencies into the AutoCoin (ATC), a cryptocurrency the project relies upon. AutoBlock users who already have Auto Coins can run a limited number of free valuations. They can also use their Auto Coins to buy the premium subscription package that can be used for multiple vehicles and queries.

AutoBlock uses vehicle valuations as well as car data, their systems will serve motor industry professional bodies such as Insurance Companies, Car Dealers and Leasing Companies. Offering real time valuations compiled from live data utilizing BlockChain technology results in a database of all vehicle specifications produced across the World.

Leveraging the blockchain technology, Autoblock is addressing the following problems of current automotive market industry.

Current Market Challenges

Data

At the heart of the auto industry’s many problems lies a pronounced lack of a data. As technologies, applications, and services grounded from everything from sensors to artificial data are working together to transform the auto industry, the automobile ecosystem is witnessing a steady influx of new players, all of them with a clear need for big data and analytics. One need in particular stands head and shoulders above the rest: the need for a decentralised global database that gives users immediate access to a wide range of vehicle data relating to individual vehicles (e.g., model, make, year of manufacture, mileage, usage, ownership, etc.).

Valuation

As privately owned vehicles change hands at record rates, massive amounts of data related to these vehicles is being generated. Gathering this data has become commonplace, but what to do with this data is another matter; leveraging data-based insights for valuation and other purposes is still in its nascent stage.

Market Saturation

With global automobile sales at an all-time high, there is a clear need for a revolution in the automobile sector—one that addresses the sector’s major issues.

Token Information

Token Name: AUTOCOIN

Token Ticker: ATC

Platform: Ethereum

Type: ERC20

Total Tokens Supply: 400,000,000

Country Registration: United Kingdom

Token function