AUTOBAY — First Decentralized E-commerce platform Buy Sell Cars

rahmat97 (25)in #blockchain • 7 years ago

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Autobay is the first e-commerce platform based on the Ethereum blockchain that allows users to sell, buy and auction cars using cryptocurrency as payment method.

What is AUTOBAY?
Autobay is a decentralized e-commerce 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.

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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 1 - The person has to browse for the car they want, using filters that shorten their search to a specific brand, model, year, mileage, price range and location (radius in km).
Step 2 - 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. By pressing the I’m interested button, both parties, seller and buyer receive each other’s profile information.
Step 3 - and most important, 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.

Autobay will bring transparency in the purchasing process as every single transaction will be set as blocks within the Ethereum blockchain creating a record of proof of ownership and records all of the data of the transaction creating a record of the features of the car that enables future buyers to keep track of the cars history, creating a safe, secure and stress free process. The Smart contract will include data such as Brand, model, Patent / ID number, milage, etc. therefore future buyers will be able to access such data and verify the authenticity of the information provided by future sellers.

PRODUCTS
Autobay will have a range of possibilities for its users, the first one being selling and buying cars as mentioned before, from private owners or dealerships. The advantage dealerships will have when advertising their cars in the Autobay platform is that they will have the tools to organize and analyze their own market. For instance, given the “I’m interested” button will share the profile information between parties, dealerships will have a clear understanding of the demand each one of their vehicles have got, allowing them to modify prices, create promotions or marketing plans in order to increase their sales and as a consequence benefit the buyer.

Autobay will also allow Auctions on a specific time basis. Auctions will not be a regular feature that will be present in the platform every day, but such as happens in Auto shows all over the world, they will be special events every a specific period of time depending on the country, (i.e. once a month, once every week) were people from all over the world will have the chance to buy a car in a live Auction and such bids will be made in cryptocurrency only.

REVENUE STREAM
► Car Publications
Cars will be published by private sellers or companies in the Autobay website and Dapp. The costs of this publications will variate according to customer needs and will be separate in categories according to pricing, exposure and duration of the publication on the Autobay website.
BRONZE - BRONZE publication will allow users to post their vehicles (cars, trucks, motorcycles) free of charge, giving them low exposure on the site and Dapp and with a limited duration of 30 days.
SILVER - SILVER publication will allow users to pay a small fee duplicating the exposure of the Bronze category and a have a longer duration for the publication of 90 days.
GOLD - GOLD publication will have a higher fee than previous ones and will allow sellers to gain twice as exposure as Silver publications by being higher in the result listing than the Silver category and will not have a duration, they will be on site until the car is sold or a user deletes it. Gold publications will allow ABX Tokens and ETH as payment methods.
PLATINUM - PLATINUM publications will pay the highest fee within the site and will allow the vehicles to have the largest exposure within the site, appearing between the first results of the site and they will also have got no limit to its duration. Platinum publications will allow ABX, ETH, and BTC as payment methods.
► Advertisement
Another revenue stream will be awarded by selling Advertisings within the site. There will be a top, a bottom and a lateral banner advertising which will be sold to companies who wish to promote their products in the Autobay platform.

AUTOBAY TOKEN (ABX)
The Autobay (ABX) Tokens are built on the ERC Standard based on the Ethereum Blockchain, which allows their integration with virtual wallets such as MyEtherWallet.

The ABX Token will create a Smart Contract between two parties, buyer and seller, were it will be stated the model, year and price of the car sold among other information and the tokens will be used as a payment method between parties as well as a payment method for the GAS used to create the blocks in the Ethereum blockchain.

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.