AUTON, Commerce, and Blockchain - The World's First Network to Go Live

This article highlights AUTON and its use in automotive commerce on The World's First Network to go live later this month.

about AUTON [1]: It is a digital currency designed to serve as a medium of exchange and is utilized as a token in automotive transactions. Additional units are created and consumed as transactions take place, and they are verified in transfer of automotive goods, services and assets using it. AUTON's are available for use by OEM Dealers, automotive insurance service providers, manufacturers, distributors, repair centers and other service providers across North America and globally through partnerships*.

Example, if you use Vehicle Passport and add a vehicle, an AUTON gets issued to your digital wallet inside the mobile application as shown here*. When consumed in trade or service at a dealership, or as more AUTON's are rewarded, the balance is automatically updated and displayed in the app. SHIFTMobility Automotive Platform is used to create and manage AUTONs for use by enterprises.

Benefits of AUTON:

Transparency: All transactions are verified, committed and confirmed in the blockchain. Once an AUTON issued to your account is confirmed, the transaction cannot be reversed by the sender. Similarly, if an AUTON is consumed when a purchase is made, it cannot be reversed by the receiver.

Transaction Fee: There is no transaction fee to share, gift, or send AUTONs.

Speed: Transactions are processed as they take place on AUTONSCAN platform [2] [3]. If you are sending and receiving AUTONs, those transactions are instantly performed.

Network: The network is secured by blockchain platform and cryptographic protocols used for transacting on blockchains; this includes securing communication channels with business entities across the distributed network.

Blockchain-as-a-Service: We will be rolling out open APIs for use by developers in Automotive, FinTech, Cryptocurrency Exchanges, AI, and other related industries so that they can launch their ideas leveraging automotive blockchain protocols and services on the network.

Cost: Use of AUTON is free for consumers. See article [4] on hot to get an AUTON for your car.

Stay tuned for more information.

*For partnership opportunities in US and globally, send your request to [email protected].

References:

[1] AUTON: Dawn of a New Automotive Economy

[2] Autonomous Consensus Protocols Deliver High TPS For Automotive Industry

[3] Introducing the Worlds’ First Open Marketplace – AUTONSCAN

[4] AUTON for your car - How to get it?

? 2018 SHIFTMOBILITY INC.