Sơn Tùng MTP : AUTOBLOCK - Revolutionize the automotive industry

The automobile market is one of the largest industries in the world. With car buyers all over the world looking for reliable and affordable transport to get them from one point to another, the motor industry is flourishing with both new and old cars. However, though the demand is high for quality and luxurious vehicles, the industry faces several challenges. Because there are millions of consumers and distributors all around the globe, the system is not streamlined enough to provide value to both the buyer as well as the seller. AutoBlock will revolutionize the automotive industry and make it transparent so sales and purchases can take place without mishaps.

What is The AutoBlock?

The AutoBlock is a blockchain product and service suite which is specially developed for the worldwide automotive industry. The idea for such a solution was born in the first quarter of 2017 when the founding members realized that though the motor market was significant, it lacked the essentials that made it safe, secure to access, and reliable. By the third quarter of that same year, The AutoBlock’s full-blown development began, and the company opened its first regional office in the finalizing months of 2017. The task of The Auto Block is a revolution in estimating used cars and vehicle data. Assess the status and documents on the car will be entrusted only to certified persons plus will be access to the database of the traffic police. Leasing companies, sellers, buyers will have access to all the data on the car, and remotely.

How Does AutoBlock Work?

Set to revolutionize used car valuations and vehicle data, Auto Block’s mission is to serve professionals such as insurance companies, car dealers and leasing companies in the motor industry with accurate and easy access to data and valuations. At the heart of AutoBlock is our hybrid blockchain technology, utilizing the best of public and private blockchains. This will allow for the seamless transfer of vehicle data using smart contracts which forms the foundation of our fair vehicle valuations platform; purchasing a car through the portal, transferring the funds instantly and cashing out the proceeds in either fiat, crypto or both via our internal exchange.