⎮ LotBlok ⎮ Leveraging Blockchain Technology in the Automotive Industry ⎮

⎮ LotBlok ⎮ Leveraging Blockchain Technology in the Automotive Industry ⎮


[Applause] [Music] [Applause] [Music] what is going on crypto family so today we get Ian he’s the founder of watt block right that’s so impatient to meet you nice to meet you awesome man so tell us about yourself who are you and what do you do my own crypto yeah absolutely my name is Ian Smith I grew up in the automotive space I found a lot of deep-seated issues in regards to liquidation process originally with OEMs and then consumers a lot of easy ways to liquidate your vehicle fraud out there which is where we see the blockchain being a big part of that securing it especially when we go into third world countries where a lot of countries start streamin have titles so right now we’re working with consumers and actually some OEMs helped them work on their lease returns so IAM like Original Equipment Manufacturer like automotive like let’s say a big German manufacturer or an American manufacturer of vehicles in regards to reCAPTCHA as much residual value as they can off their lease returns so right now they traditionally send those cars to so selling used cars it really is a marketplace for sewing yeah throw into the 20 30 cars should make this complicated ya know they’re super simple I can use cars barking yeah we’re Lily that’s all this yeah we’re not – yeah it’s not complicated at all it’s actually really simple cool man so how’s this works let’s say I got a car is it you use it for personal people – right so yeah absolutely just got a trunk I’m tired of I’m ready to go upgrade go buy another one yeah we open it up our platform actually this week so consumer can either download our app or go to our website if you want to F that walks up just scans the barcode of the VIN very easy auto populates all the information for you you walk around take six to seven photos of a basically vehicle condition report and gives us an idea of what the vehicles like and instead of you only going to like let’s say at Carmack’s or going to craigslist to looking at your car we instantly bring thousands of dealers right to your driveway well so we basically bring the auto auction to your driveway allowing the consumer to cut out all the middleman and get you the most money for your buck so it’s pretty cool now who’s this gonna be open to like anybody said yeah so eventually right now we’re all in on the west coast and our plan is to roll across all the United States in the next six months but we’re live right now in California organ in Washington this is gonna say so how far along are you you guys already implemented the blockchain tech completely yeah what stellar so yeah we’re fully integrated and our back-end it pairs with our back-end so it’s actually all together I’ve got a really good blockchain team that’s not my forte I’m I’m the dumb car guy but I got a really good crew and you know we got some really cool stuff going on and it actually using the blockchain in a real use case scenario and it’s it’s literally working right now it’s alive it’s cool I said what are you guys using your coins for we’re actually these are coins for raising equity and basically any equity in the company to go out and go across the whole US so you guys gonna have an sto you’re gonna be showing to who have credited invest right investors yeah 506 506 B I believe is what yeah yeah us to be everywhere so but yeah credited I think I think you could do 20 I don’t know give me a right there’s a small percentage of under credit you could do on there but yeah I have mostly credited gotcha so it’s live now people can go where to start using this yeah lot block calm hello TBL okay and yeah we make it it’s really simple we’re just really literally trying to take the headache I saw on your car it’s not yeah as simple as that it’s awesome it yeah cool was a pleasure thank you nice to meet you as well appreciate it you gotta take care of god bless people [Music] [Applause] [Music]


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