LotBlok to Enable Simple, Blockchain-Based Auto Sales

San Carlos, CA, December 13, 2018 --(PR.com)-- LotBlok Inc., an auto-tech company based in San Carlos, CA, is announcing the release of a blockchain-based car sales platform this coming January. By integrating advanced Blockchain and IPFS technology into their preexisting system for P2P, B2B, and P2B car sales, LotBlok will enable cheaper, easier, and faster car sales for everyone. With 1,000+ successful sales and established partnerships with Manheim Automotive and the Mobility Open Blockchain Initiative, LotBlok is poised to revolutionize the $200B+/yr used car sales industry.

“There’s never been a more pressing time,” said LotBlok CEO Ian Smith about today’s auto-sales industry. “I was practically born on a car lot, and I’ve worked with cars my whole life - it’s always been a problem, but never like this...Liquidating used cars has become nearly impossible!” LotBlok hopes to change this with its intuitive approach to auto-sales that requires virtually no effort from the end user, and alleviates the worry of dealing with a private buyer or pushy dealer.

The steps are easy: visit LotBlok.com, enter your car’s information, and receive a quote secured on the Blockchain. After the quote is approved, a transporter will arrive to arrange the title transfer and bring the car to the buyer. “We’re going to make the process easier for everyone, it’s a win-win. No more hassling over prices, payment, or transport; LotBlok handles everything smoothly,” says CEO Ian Smith.

In addition, LotBlok is said to give better and faster payouts, because the friction of traditional legacy systems has been eclipsed by blockchain technology. “By replacing the sluggish and unreliable legacy technologies most auto companies use with blockchain technology, we can leapfrog currently established businesses and occupy a brand new market space,” said Blockchain Tech Lead Sebastian Mellen. LotBlok aims, in his words, to become a “leader of the automotive tech industry” by combining its unique position as an established company with the competitive advantage afforded by the adoption of new tech.

The team at LotBlok, meanwhile, is focusing on preparing for the product launch - “We’ve spent the last 3 years, plenty of sweat, and a few tears developing our platform and automotive marketplace. We could not be more excited for the next step in our journey.”