On this occasion I will discuss a new ICO that is different from other projects. The ICO is AUTOBAY. 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. Each year over 80,000,000 new cars are sold worldwide and only in the US over 100,000 used cars are sold every day, through an outdated, cash depending process. Autobay’s vision is to create real value to cryptocurrencies allowing them to act as a financial asset to purchase goods (vehicles in this case) while solving a day to day problem of the car industry, creating a much safer, simpler and secure process to purchase vehicles. 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 lets you buy, sell, and sell new and used cars from private sellers and dealers from around the world in the largest neighborhood of e-commerce blockchain. You will be able to pay with cryptocurrency for your desired car with a low transaction rate and with a free cash payment process security.
Autobay will allow user reviews to create an ideal environment for safe and secure transactions to occur, allowing buyers to get reviews about sellers and dealers. Sellers on the other hand will increase their sales through a backend platform that will allow them, among other tools, to view stats on every vehicle posted and a list of interested potential buyers.
When purchasing a new vehicle almost everyone at some point must bring FIAT currency in cash, either from or to the bank or from their home to a dealer that involves a stressful and insecure process. When buying used cars, we realize that the entire industry is based on a cash-only sales policy, creating greater uncertainty during the process. Furthermore, when buying used cars from private sellers, people are forced to travel to unknown locations, where unknown sellers claim to own the cars they want and make cash transactions in very uncomfortable situations. Risks such as losing money, being robbed, payment with fake notes and lost time are part of the risk involved in cash payments. Over the past 100 years, the process of purchasing vehicles has been the same part, and it’s outdated and unsafe. process.
Autobay is a patented e-commerce platform that allows users to promote their vehicles so everyone can see them online, allowing users from all over the world to purchase the vehicle using cryptocurrency as a payment method. Theautobay creates a much simpler and safer experience when buying a vehicle, allowing people to buy a car with just 3 easy and safe steps.
The first step, the person must find the car they want, using a filter that shortens their search for brand, model, year, millage, price range and specific location (radius within km).
The second step, when someone finds the car they want, either new or used, they just click the button that appears in the publication that says I’m interested, which means that they are willing to visit the location where the vehicle is located, to assess the car. By pressing the button I am interested, both parties, the seller and the buyer receive each other’s profile information.
The third step, and most importantly, when the person agrees to buy a vehicle does not need a cash payment, the only thing the buyer should do is open the Decentralized Autobay app on their mobile device, enter the “I’m interested” menu, where the list of all cars who is interested in the buyer, he then searches for a post in a particular car he wants to buy, and through a wallet embedded in Dapp, he can make an advanced deposit or full payment, choose the cryptocurrency he wants to pay with and by pressing the “Buy” button he creates the Intelligent Contract in Ethereum Blockchain paying for cars.
Autobay will also allow Auctions at any given time. Auctions will not be a regular feature that will be present on the platform every day, but as happens in Auto shows around the world, they will be a special event every specific time period depending on the country, (ie once a month, once everyone from around the world will have a chance to buy a car at auction directly and the offer will only be made in crypto currency.
Benefits to be gained :
• The seller will have a larger audience to show off his vehicle,
• Buyers will have a larger vehicle display over local or regional Auctions,
• Buyers will be able to make payments through cryptocurrency at a very low cost.
• Buyers will be able to buy cryptocurrency either before Pre-Sale – General Sale of Autobay Token at a discounted price to pay for the vehicle at a later date at a higher price
Autobay will exclusively accept Cryptocurrencies (BTC, ETH and ABX) as a payment method, no FIAT currency will be accepted. These cryptocurrencies will also be used to pay for publication of vehicles by users and as a payment method for companies to advertise their brand in advertisement banners within the site. Paying with ABX will offer users and companies a discount over Bitcoin (BTC) and Ethereum (ETH) benefiting users for having more competitive prices and creating a higher utility for ABX Tokens.
AutoBay allows you to buy a vehicle in 3 easy steps.
The Autobay Dapp and website allows you to search for the car you want, adding filters to customize your search i.e. for brand, model, year, milage and distance so you can adjust to find results of cars, motorcycles or trucks within i.e. a 20 mile radius.
Once you have found the car you are interested in, by clicking “I’m interested” you get the sellers address and profile and the seller obtains your profile information, so he knows before hand who is going to visit the car. This helps dealerships get organized and understand the demand of each of their vehicles.
Once you have seen the car and you decide to buy it, there is no need for cash, Autobay allows you to give an advanced payment or directly pay with Autobay Tokens (ABX), Bitcoins (BTC) orEthereum (ETH) with no need of cash payment, making Autobay the safest way to buy a car.
- Token Name : Autobay
- Ticker : ABX
- Token Type : ERC 20
- Token Emission : 945,000,000
- Hard Cap : US $24,000,000
Token Price : ETH0,0001
Only Bitcoin (BTC),Ethereum (ETH) cryptocurrencies are accepted to buy Autobay Tokens during the Presale and Crowdsale.
ALLOCATION OF FUNDS
To reach the final product described in the following whitepaper the funds provided through the Presale and Public Saleof the tokens will be allocated as follows:
ALLOCATION OF FUNDS
- 40% OPERATING EXPENSES
- 38% MARKETING OF THE PLATFORM
- 8% LEGAL, TAXES & CORPORATE FEES
- 10% NEW PRODUCT DEVELOPMENT
- 4% MISC.
- 44% ONLINE ADVERTISING
- 20% DOOH (DIGITAL OUT OF HOME)
- 36% TRADITIONAL ADVERTISING
For more information, visit the link below :
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
Bounty Thread : https://bitcointalk.org/index.php?topic=3329843.0
ANN Thread : https://bitcointalk.org/index.php?topic=3327461
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