Hi, have you ever had a dream to buy a car that you like? maybe it sounds difficult but, for this modern era, come on... it's not impossible to grant that. your dream will be comes true by AUTOBAY. so, what is AUTOBAY?
Autobay is the first ecommerce platform based on the Ethereum blockchain that allows users to sell, buy and auction cars using cryptocurrency as payment method. Autobay will become the largest automotive environment in the world whose main objective is to create legitimacy to the cryptocurrency market by allowing the use of Bitcoin (BTC), Ethereum (ETH) and Autobay Tokens (ABX) as a Financial Asset to acquire goods.
In almost 10 years from 1997 to 2006 the automotive industry almost duplicated its’ production, from 54,000,000 units to 94,000,000 units produced in one year. The automotive industry works on two main business unit, new and used vehicles. The increase in population around the world that can now access to buy a vehicle, either a truck or family vehicle and those people that sell their used cars to purchase a new one. This two groups combined create an industry of over $ 3 Trillion (US Dollars) a year. To set an example the used car industry in China, which is the largest automotive market in the world has increased by 10X over the last 10 years, reaching a $94 Billon dollar in 2016 and only in the United States in 2017 over 37 Million used cars were sold. Both markets have increased exponentially over the last 20 years and they are forecasted to keep on growing. Autobay is a decentralized ecommerce platform that allows users to promote their vehicles for everyone to see them online allowing users from all over the world to purchase such vehicles using cryptocurrencies as a payment method. Autobay creates a much simplified, safe experience when buying a vehicle, allowing people to buy a car in just 3 easy and safe steps.
Step one, the person has to browse for the car they want, using filters that shorten their search to specific brand, model, year, millage, price range and location (radius in km).
Step two, when a person finds the car they want, either new or used, they just click in button that appears in the publication that says I’m interested, entailing that they are willing to visit the location where the vehicle is, in order to assess the car.
Step three, and the important thing, when the person has agreed to purchase the vehicle there is no need for cash payments, the only thing the buyer has to do is open the Autobay Decentralized app on their mobile device, enter the “I’m interested” menu, where a listing of all the cars the buyer was interested in appears, he then looks for the post on the specific car he wishes to buy, and through an embedded wallet in the Dapp, he can create an advanced deposit or the full payment, choosing the cryptocurrency he wishes to pay with and by pressing the “Buy” button he creates the Smart Contract in the Ethereum Blockchain that pays for the car.
HOW AUTOBAY WORKS
SEARCH - 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, mileage and distance so you can adjust to find results of cars, motorcycles or trucks within i.e. a 20 mile radius.
VISIT - 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 beforehand who is going to visit the car. This transparent sharing of information helps both parties with decision making and organisation. Especially dealerships will be able to evaluate the demand of each of its vehicles
CASHLESS PAYMENT - 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 simplest and safest way to buy a car.
