in Car dealers Accept Cryptocurrency

AutoBlock at the 2018 F&I Conference and Awards UK

AutoBlock were delighted to be invited to speak at the recent F&I Awards 2018 held in Leeds.

David White and Mustansar Iqbal were asked to present to over 500 delegates from the F&I Conference - crypto bitcoinUK’s leading finance and car dealerships, talking about cryptocurrency and blockchain and how this would impact on car dealers now and in the immediate future.  With over 20 minutes to talk about the fundamentals of blockchain technology, the creation and current use of Bitcoin and how car dealers are able to maximise the opportunity to sell to not only over 4 million UK crypto users but in many instances offer specialist sports, performance and classic cars globally, the audience were given the opportunity to ask a number of questions regarding fundamentals of cryptocurrency and the ease with which car dealers can accept crypto as a secure and stable means of payment.

Much was also discussed about the opportunities in car leasing, contract hire and PCP with finance brokers being very interested to hear how crypto can be used as a payment for monthly finance schemes as well as for car finance deposits.

bitcoin can be used to buy carsAfter a hectic networking lunch David was invited to sit on a panel of ‘Ask the Experts’ where for 40 minutes the audience were able to ask questions about car financing, car sales in the future, the threats posed to car dealers by technology and many more.

With speakers including Robert McKechnie, Head of Banking and FI, Equifax and Keith Bell, Barclays Partner Finance the event both stimulated and educated and generated some interesting and exciting questions.

A big thanks to Martin Hill, MD of Dealtrak for the invitation and opportunity and we look forward to catching up with our partners again soon.

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