The predicted value of the global blockchain market for 2018 is 548.2 million USD. By 2021, this number is expected to increase to 2.3 billion USD. So, it is safe to say that blockchain technology is booming. Many sectors are being disrupted because of it. This includes the automotive industry. One blockchain solution that is causing an uproar is the AutoCoin delivered by the AutoBlock.
What is the AutoCoin?
For the first time since the inception of cryptocurrencies, we now have a digital currency specifically for the industry. The AutoCoin is a cryptocurrency developed by the AutoBlock solely for the automobile sector. It allows you to buy and sell cars without the use of fiat money. Its platform, AutoCoincars.com is home to both dealers and personal sellers alike.
Ways you can use the AutoCoin
The AutoCoin can be used in two different ways, depending on the goal you are pursuing.
Purchasing and selling cars
The first way you can use the security token is by using it for buying and selling cars. The AutoBlock only accepts this currency. Dealers are given the incentive to accept AutoCoin as the payment by delivering bonus coins to them.
You might wonder, why should you use the AutoCoin to purchase cars when you can use fiat money instead. Well, using the AutoCoin for this purpose allows you to realize the following benefits:
- You don’t need to pay the transaction fee, which is usually charged by financial intermediaries like banks
- You don’t need to worry about global exchange rates when transacting across the border
- The transfer of money is secure due to the use of an encrypted blockchain technology
Moreover, you can buy two types of cars using the AutoCoin. This includes old vehicles as well as new cars. How so? Well, the cryptocurrency is accepted on AutoCoincars.com. On this platform, you will find renowned car dealers selling new models and vehicles. Moreover, since the platform is also used for p2p selling, you will also find old trucks and cars on it as well. You can choose which type of vehicle to buy using the AutoCoin.
A form of investment
AutoCoin is a type of security coin. The AutoBlock delivers dividends to those who own them. You can view it as your share in the company. As the automotive industry continues to grow, the lucrativeness of this solution also is poised to grow. Think about it. The AutoBlock and the AutoCoin have a first mover advantage. They are the pioneers of blockchain technology in the automotive sector. They are growing. So, if you invest in them by purchasing and storing AutoCoin, you can have a share in their profits.
If you are interested in purchasing or selling off your car in a convenient and hassle-free way, the AutoCoin can be beneficial for you. If you wish to invest in a solution that will disrupt a sector, AutoCoin is still the answer for you. Use the AutoCoin for whichever reason you want to. Rest assured that you will gain benefit one way or another.