AutoCoin Blockchain
Revolutionizing an industry that has earned its reputation for dishonesty.
Blockchain technology has completely transformed how we think big data and integrations. The implementation of this new infrastructure is a big step forward for humanity as a whole, and we aim to pioneer this movement in the auto industry.
Vehicles on the AutoCoin Blockchain will have all their information out in the open. From the time it leaves the factory to the time its scrapped. Everything that happens to it, maintenance, ownership, documentation, history, and more will be documented within the AutoCoin Blockchain HyperLedger and verified by the AutoCoin Blockchain SmartContracts.
In the same way that ride-sharing services such as Uber or Lyft allow complete strangers to put trust in one another, this innovative solution will allow dealers, customers and all other parties involved to have full access to the truth, so that no one is ever treated unfairly or against their contract.
Over 1 billion dollars annually are stolen, hustled, and bamboozled from American consumers by auto-related fraud. Passing faulty titles, insurance fraud, forging vehicle history reports, and many other dishonest practices are so commonplace in the auto industry that the consumer is almost certain to be treated unfairly.
Why? Because the current infrastructure in place does not allow for data to flow freely, instantly, and transparently. Instead, it is caged within organizations that are meant to cooperate. This is because the databases are massive, have different structures and lack the infrastructure for instant access by all organizations.
This is a problem that can only be solved by improving the technology from something traditional to something radically more efficient.
The global losses due to inaccurate data and fraud for industry participants have been estimated anywhere from $300 billion to $1 trillion dollars annually. There is no real way to know how much crime is going undetected, but we do have a solution to the problem: AutoCoin Blockchain.
Through our industry partnerships, chiefly SiriusXM Radio, we have direct access to all major vehicle manufacturers globally. It is critical for us to register all new vehicles with an AutoCoin Blockchain ID to ensure full life-cycle tracking.
We have a tremendous influence in this sector. Not only are we one of the largest DMS providers to independent auto dealerships in the United States, we have working relationships with all of our major competitors. Our ability to force adoption in this sector is a strong point.
We have direct business partnerships with some of the largest Warranty companies in America. Including Endurance EDS, and Royal Administration.
We have current partnerships with all major direct lending companies in the United States. We are currently in negotiations with several partners to board their loan information onto the AutoCoin Blockchain.
We have current partnerships with all major direct lending companies in the United States. These partnerships include Westlake Financial, CUDL, DealerTrack Lending Network, and the RouteOne Lending Network. We are currently in negotiations with several partners to board their loan information onto the AutoCoin Blockchain.
The AutoCoin Blockchain functions according to the rules of Blockchain technology. There are many benefits to recording important information this way.
Individuals and organizations alike will have access to verified vehicle history reports. Lenders and Government institutions will have access to verified financial data.
The AutoCoin Blockchain is a tamper-proof, append-only ledger that uses state-of-the-art cryptography.
The AutoCoin Blockchain makes a secure decentralize ledger for all auto-related transactions.
Each piece of data, before being added to the blockchain, undergoes mining according to our smart contract to be verified.
Welcome to the first publicly accessible, American based auto history blockchain. Unlike some others who are planning blockchains, we already have a fully functioning blockchain collecting data from our many industry partners. Try for yourself by searching a VIN on VehicleHistory.US.
The tokens will be available for transfer through our proprietary wallet which we will issue free for a limited time to the public. You can also buy/sell/trade our tokens on all major coin exchanges.
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Our team is working hard to achieve this monumental goal!
The AutoCoin team combines a passion for the automotive market, industry expertise & a proven record in financing, developing, marketing & licensing software products.
Below we’ve provided a bit of information on our blockchain technology and upcoming ICO. If you have any other questions, please get in touch using the contact form below.
Blockchain is the core technology behind AutoCoin. At its heart is a distributed data store. Anyone who participates in this network has their own data store that stores all of the transactions that ever happened on the network (this is also known as the distributed ledger). Entries are stored within a cryptographic chain of blocks. At every stage, the network of participants must agree about the latest block of transactions. Agreement is reached through a process of majority consensus, eliminating duplicate entries, double spending etc. This process and the cryptographic layering of the blocks makes the agreed blockchain irreversible and immutable. The ‘history’ of events within this technology cannot be modified by any one of the participants without majority consensus from the group.
A Smart Contract is code that is deployed to the blockchain. Each smart contract contains code that can have a predefined set of inputs. Smart contracts can also store data. Following the distributed model of the blockchain, smart contracts run on every node in this technology, and each contract’s data is stored in every node. This data can be queried at any time. Smart Contracts can also call other smart contracts, enforce permissions, run workflow logic, perform calculations etc. Smart contract code is executed within a transaction – so the data stored as a result of running the smart contract (i.e. the state) is part of the blockchain’s immutable ledger.
Mining is used a proof of work for participants in the blockchain. Whenever a block of transactions is to be agreed, every participating node attempts to ‘mine’ the block (a mathematical algorithmic process that requires extensive CPU capacity). In public blockchains successful mining is rewarded with a cryptocurrency token.
ICO stands for “Initial Coin Offering” and it is a means of raising capital through a crowdfunding campaign with the use of crypto-assets as investment. A digital asset, the coin or the token, is issued for a purpose and are sold to raise money for the said purpose. After the ICO process is done, the coins are traded on crypto-exchanges and market supply and demand decides on their fair pricing.
Signing up for the token sale is easy. Simply fill out the contact form here on our website and a representative will reach out to you to confirm your interest.
Through our own exchange, we can accept Fiat currency for AutoCoin.
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