CHANGING CAR FINANCING & PURCHASING FOREVER
Using the aXc blockchain to improve TRUST & CONVENIENCE in the automotive market
The global pre-owned car market is projected to reach
used cars sold annually
in used car transactions annually
in auto loans outstanding
industry & problem
Opaque car history
Restrictive payment options
autoXchange Ecosystem & Marketplace
Through autoXchange a buyer can select a car, make an offer, source finance, and make payment. Completing all these steps in under two minutes!
Private sellers & dealers carry out the entire sales process easily on their own. There are no listing costs, and autoXchange will not charge transaction or commission fees.
For each vehicle listed on autoXchange, a smart contract keys the car information based on the Vehicle Identification Number (VIN), with all vehicle history and future information then being added to this entry on the blockchain.
To complement our free retail marketplace, autoXchange provides a B2B portal for registered businesses that pay a subscription fee. This portal enables efficient sourcing between dealers, provides quick access to vehicle records, and the ability to transact with other dealers through escrow smart contracts to demonstrate ‘proof of funds’ before a vehicle is shipped.
When any retail or trade buyer wants to make a purchase, they can apply for instant financing through autoXchange. Our smart credit scoring system assesses the application in near real-time and automated smart contracts facilitate the approved loan.
Once a buyer has deposited their full funds (in crypto/Fiat) or received their loan from autoXchange, they can make real-time payment to the seller. Every transaction is executed on the blockchain using the aXc token.
How it works
autoXchange allows you to buy a vehicle in 3 easy steps:
Search for the car you want, adding filters to customize your search i.e. for brand, model, year, mileage, currency type (Fiat/Crypto), and distance from your location.
Once you have selected the car you are interested in, you will be able to contact the seller and review their seller rating.
When you have opted to buy, you can make an offer, source financing and make payment within the app in under 2 minutes.
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aXc DECENTRALISED LEDGER
The decentralized aXc ledger is the engine that regulates all transactions and relationships between all entities. Using an Enterprise focused version of Ethereum, the aXc ledger is able to extend the public Ethereum protocol to provide high transaction speeds, high throughput, private contracts, and improved performance.
The aXc blockchain uses a Raft consensus which provides an advantage over proof of work in that, firstly, it works much faster, and secondly, you do not need to pay a commission to the miner for each transaction, and most importantly there are no vulnerabilities in this consensus.
Built as an open framework the aXc blockchain will be free to use by any third party marketplace or app developer. This will enable market adoption with the intention to make the aXc blockchain a shared resource for the whole automotive industry.
Provides significant benefits to companies that connect to the aXc ledger by providing a shared resource that improves operational efficiencies for vehicle fact checking.
The aXc ledger improves trust between dealers by enabling proof of funds, real-time transactions, and providing access to commercial loans to increase inventory.
Automotive Tech Investor
NED Brabham Global Ltd
Project Timelines & Description
UK registered business
autoXchange Product development begins
autoXchange strategic partner program launched
launch autoXchange merchant program
aXc hackathons globally
aXc exchange listings
autoXchange.io beta release
Beta release of financing marketplace in select markets
Establish regional presence and multilingual support
aXc p2p financing on autoXchange.io released in select markets enforced by legally binding smart contracts
Marketing campaign for aXc propagation and aXc awareness
Target 2million cars listed on autoXchange & aXc ledger
autoXchange Fund 1 launch
Expansion activities in core markets
autoXchange Fund 2 launched
DONT MISS OUT ON BEING PART OF THE AUTOXCHANGE VISION
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