FAQ

Repo Coin is a revolutionary blockchain project focused on the auto lending and repossession industry. It is a solution that will result in the faster, more efficient recovery of assets for auto lenders by bringing together a large community of people to assist in locating delinquent vehicles, motivated by cryptocurrency rewards.

We are building an end-to-end technology solution that will feature a website, mobile app, digital wallet, and blockchain platform, using Stellar protocol for token operation and smart contracts.

With the Repo Coin mobile app, everyone will have the power to scan license plates and quickly identify delinquent vehicles, matched against our real-time database of delinquent vehicles from lenders across the US. By enlisting the participation of lending agencies, auto repossession companies, and a community of users incentivized by cryptocurrency, we will disrupt and transform the $1 billion dollar auto repossession industry in a way that has never been seen before.

The current model for the auto repossession industry does not effectively meet the demands of auto lenders, which have increased exponentially since 2012.

The auto repossession industry currently relies on expensive, inefficient technology to locate delinquent vehicles, which has resulted in a slow, costly process for lenders who wish to recover lost assets. There are also major problems with communication between repossession companies and lenders, which have caused additional delays and costs for the lenders.

Additionally, not much information is available about the auto repossession industry, despite it being a $1 billion market. Because of this, it has been largely overlooked when it comes to the kinds of major technical advances that banks and lending agencies have seen over the past several years

We will streamline the auto repossession process and the exchange of information between auto lenders and repossession companies by using smart contracts on our blockchain platform coupled with the Repo Coin mobile app will provide license plate scanning and recognition technology to a large community of users across the country, free of charge and easy to use. cryptocurrency, we will disrupt and transform the $1 billion dollar auto repossession industry in a way that has never been seen before.

We have chosen Stellar for a few reasons, primarily because it is fast, reliable, and can support inexpensive transactions for many users.Because Stellar is based on a consensus algorithm rather than on mining, it can confirm transactions within a few seconds. Stellar offers a 5 second median settlement time, compared to 3.5 minutes on the Ethereum network. The simplicity of the Stellar system, purposely limited for smart contracts, also helps avoid situations where hackers can exploit vulnerabilities and steal tokens.

For these reasons, we believe that the Stellar platform will be the ideal choice for Repo Coin.

Our app will incentive users with Repo tokens as rewards for helping locate delinquent vehicles, which can then be used to purchase goods and services on our website, repocoin.io. Repo tokens will have a variety of uses, including: purchasing products from the Repo Coin website and also voting in the we care program, where Repo Coin will donate a car once every month to a family or individual in need

No.

There will be maximum 357 million tokens, after which no more will be created.

No, there will be no pre or public sale

Purchase, ownership, receipt, or possession of Repo tokens carries no rights, express or implied, other than the right to use such tokens as a means to participate, interact or transact on the decentralized Repo Coin blockchain platform as further described in this whitepaper, if successfully completed and deployed. In particular, all participants must understand and accept that Repo tokens do not represent or confer any ownership right or stake, share, security, or equivalent rights, or any right to receive future revenue shares, intellectual property rights or any other form of participation in or relating to Repo Coin and its corporate affiliates, other than any rights relating to the provision and receipt of services from Repo Coin, subject to limitations and conditions appearing in any other required agreements on the Repo Coin website. The Repo tokens are not intended to be utilized outside the decentralized Repo Coin platform nor as a digital currency, security, commodity, or any kind of financial instrument, and Repo Coin shall not be liable to any participant for any decrease in value of Repo tokens or any other damages that any participant may incur as a result of using or purchasing Repo tokens for anything besides their intended use on the Repo Coin platform.