Two more technology firms are collaborating to deliver a solution that’s aimed at impacting how trades and stale store inventory are transacted.
LotBlok and WeBuyYourCar recently announced their partnership after the highly successful launch of their vehicle-buying service in California. According to a news release, LotBlok will continue to build out its U.S. operations, while German-owned WeBuyYourCar will expand its European operations.
Founded in 2016, LotBlok recapped that it’s an automotive marketplace for wholesale customers and consumers to safely and securely liquidate vehicular inventory. LotBlok is an automotive technology company using blockchain technology to enable customers to verify vehicle information, protect sensitive user data and make payments while attempting to reduce exposure to fraud and theft.
“WeBuyYourCar, powered by LotBlok, was purpose built to create a great car-selling experience. We invented the first 100 percent digital car selling service for private customers,” LotBlok founder and chief executive officer Ian Smith said.
“WeBuyYourCar is the easiest, fastest, and best way to sell your car safely for high value in minutes,” Smith continued. “As a dedicated trade-in service, we exclusively focus on buying cars. That focus allows us to create efficiencies and automate our car-buying processes, so we can provide you a better deal and great car-selling experience. We are a trade-in service that focuses on buying cars only.
LotBlok’s dedicated blockchain team has worked to integrate its system with the Stellar Blockchain Network.
“The LotBlok Explorer is complete. The LotBlok Explorer, which provides a simplified front-end interface with the Stellar Blockchain for LotBlok clients, is fully developed,” LotBlok blockchain and IT lead Sebastian Mellen said.
“Additionally, basic verification and proof-of-existence of PDF documents and JSON objects will be carried out on the Stellar Blockchain starting in late February,” Mellen continued. “LotBlok customers will then be able to verify the authenticity of forms and documents from LotBlok on the blockchain. This provides our clients with a safer, simpler and more secure way to trade in' their unwanted cars.”