Autobay is the first ecommerce platform based on the Ethereum blockchain that allows users to sell, buy and auction vehicles using cryptocurrencies as payment method. Each year over 80,000,000 new cars are sold worldwide and only in the US over 100,000 used cars are sold every day, through an outdated, cash depending process. Autobay's vision is to create real value to cryptocurrencies allowing them to act as a financial asset to purchase goods (vehicles in this case) while solving a day to day problem of the car industry, creating a much safer, simpler and secure process to purchase vehicles. Autobay's main objective is to create legitimacy to the cryptocurrency market by allowing the use of Bitcoins (BTC), Ethereum (ETH) and Autobay Tokens (ABX) as financial assets to acquire goods (cars, trucks and motorcycles).
Autobay allows you to buy, sell and auction new and used cars from private sellers and dealerships from all over the world in the largest blockchain based e-commerce environment. You will be able to pay with cryptocurrencies for the car you want with low transaction rates and with the security of a cash free payment process. Autobay will allow user reviews to create the ideal environment for safe and secure transactions to happen, allowing buyers to get reviews on sellers and dealerships. Sellers on the other hand will boost their sales through a backend platform that will allow them, among other tools, to see statistics on each posted vehicle and the list of interested potential buyers.