AUTOBAY - car buying and selling platform

nankninkboy (7)in #bitcoin • 6 years ago

Introduction

In almost 20 years from 1997 to 2006, the car business almost imitated its generation, from 54,000,000 units to 94 million units made in one year. The car business chip enters in two special vehicle units of principle, new, and utilized. The expansion of people around the world who will now be able to access to buy vehicles, both truck family vehicles and people who use their cars are used to buy others. These two meetings merged making the industry more than $ 3 trillion (US dollars) per year. To build the case of the automotive industry used in China, which is the largest car market on the planet has grown 10-fold in the last 10 years, coming to $ 94 Billon dollars in 2016 and only in the United States in 2017 over 37 million cars secondhand sold

ABOUT AUTOBAY

In the last couple of years, among the blockbuster projects, there have been a lot of such that relate to the use of cars. They, mainly, were different platforms for the joint use of vehicles and their lease. The project, which we will talk about this time, will take a slightly different niche - e-commerce for the sale of cars, not just through an online store, but through a full-fledged marketplace, using crypto currency.In the first article of the Autobay project review, we will talk about it in general terms, we will find out what its idea is and what goals its creators set for themselves. In the second part, we will dig deeper into the sphere they will try to occupy - the sphere of e-commerce for the sale of vehicles, learn about the situation in the market, the current and potential problems and how they can be disposed of with a decentralized solution, and the last article we will dedicate everything that is connected with the auctions, which are conducted through Autobay.

The idea of the project

The founders of Autobay are going to create a decentralized service in the field of e-commerce, which will become a marketplace, through which you can buy or sell a new or used car from an individual owner or through a dealer company, including through an auction. The technology of blocking, smart contracts and crypto-currencies, in particular ABX - tokens of the platform itself, will become for it the base. Starting on May 9, the platform is at the stage of private sale of ABX tokens, which are sold to verified large crypto-investors. The mobile application Autobay will be available for Android and iOS as early as next year. At the same time, estimates of ICO sites are so high that the project is likely to be a great success and at the stage of direct conduction of the crowdsdale.

The role of blockade, smart contracts and crypto-currency

Blocking and smart contracts in Autobay will guarantee the security of all payments for purchase through the platform. Transactions are made as simply and quickly as possible, and Ethereum's smart contract follows the reliability of the transaction. Thus, the participants of Autobay do not need to waste time and risk operations with the currency and cash, because in the platform their funds will be securely protected. Payment takes place exclusively in the form of one of the main crypto-currency ones - BTC or ETH, and also with the help of internal platform tokens, the short name of which is ABX. In addition to the method of payment when buying a car, tokens can be used as the currency that is paid for advertising services Autobay, as well as as a reward for various actions within the platform.Payment with the help of crypto currency is not only speed and security of payments. This is also a tangible savings on buying a car due to reduced commissions for the implementation of transactions.In order for the participants to be really sure of the reliability of the seller, Autobay provides feedback from the participants of the platform from among its previous customers. This is especially important in the case of a private seller, not a dealer company that already has a reputation that they do not want to spoil by dishonest behavior and deception.Another irreplaceable function of the block is storage of data without the possibility of unauthorized third-party intervention, that's why this feature will be used in Autobay to record user feedback. They can not be faked or deleted, so the participants of the platform will always be clearly visible all the information about the seller and the buyer.

Unconditional novelty

In many plans, Autobay will become a truly first-of-its-kind solution, because, firstly, it is the first service in the world that offers its users to buy cars using not local fiat currency, like dollars and euros, and the crypto currency - BTC, ETH and ABX . And secondly, this is the first such platform, which is designed not for the local audience of a specific region or country, but for the whole world, so everyone will have access to its services, who have access to the Internet.

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