DASHUB sells vehicles at a massive discount and aims to change the online car buying process

In our announcement article for the Automotive eXchange Platform (AXP), we promised an article dedicated to DASHUB Inc., the company that is working to bring you the blockchain-based platform called the Automotive eXchange Platform (AXP). In this article you’re going to learn a little bit more about the DASHUB business, how they got involved with developing blockchain technology, and how you can learn more about DASHUB — because who knows, you might be interested in browsing our inventory and taking a look for yourself.

In the light of full disclosure, I’m currently the Director of Marketing for DASHUB, so I’m more than qualified to write this article, however; just be mindful that it’s written from the perspective of an active team member.

Who is DASHUB and what do they do?

DASHUB is a U.S.-based online automotive marketplace with offices in New York and Florida. They currently operate two primary websites. For their core business, they operate www.dashub.com, selling auction remarketed vehicles online along with supporting services, such as on-site inspections, vehicle shipping and delivery, financing, and vehicle service contracts (i.e., warranties for used vehicles). As a Florida licensed auto dealer, they take care of all the paperwork you’d expect at a dealership, such as title work with the State DMVs. The other site they operate is https://axt.io, the token site for the AXP.

What is an auction remarketed vehicle?

You may have read that bit above and thought, “wait, I’m not exactly sure what an auction remarketed vehicle is.” Allow me a moment to explain, and bear with me, because a little bit of backstory is involved.

In 2014 the three co-founders of DASHUB began evaluating the automobile auction houses in the United States, primarily the insurance auto auctions, and noticed that every year millions of vehicles were being sold in this vast $100 billion industry. On top of that, these vehicles were sometimes being sold for as much as 80% off the retail value of the vehicle. Finding this remarkable, they dug deeper and discovered that the massive discounts off retail were due to the nature of the vehicles and the auctions. The main way a vehicle finds itself at one of these auctions is when it has sustained some amount of damage and an insurance company has taken possession of the vehicle and decided to recoup losses by running it through the auction.

Everyone basically knows that dealers get many of their used vehicles from auctions, and that they get incredible deals when doing so. Well, these auctions are one of the primary places these vehicles come from. A dealer will purchase these cars at pennies-on-the-dollar, run the vehicle through their mechanic shop or service center, then lot the vehicle with a retail price tag on it. That’s typically when the consumer has a chance to purchase the vehicle.

The founders noticed that the general public was heavily restricted from this process. You either needed to be a dealer, or have some special license / registration to participate, and to that end, the vast majority of vehicles were being sold to dealerships. There were some companies out there specializing in brokering deals between the public and these auctions, but the competition was thin at best. That’s when the question dawned on them, “what if the public had easy and affordable access to these vehicles, would they take on a little bit more risk purchasing a vehicle like this for the chance to experience massive discounts off retail?” www.dashub.com was born in 2015 to answer that question.

Two and a half years were spent developing and testing this proof of concept, and the answer to the question was a resounding, “Yes!”

Being an online dealer, and looking to save their customers as much money as possible, DASHUB decided to use technology to remarket the vehicles being pushed through the auctions, which essentially means they don’t have to lot the vehicles but can still give you access to them on their website. So now, DASHUB members can browse an inventory of around 150,000 vehicles remarketed to them directly from the auctions. No dealer license is required, no special registration. Find what you want, talk with a specialist, and purchase the vehicle!

The next steps for DASHUB and the Automotive eXchange Platform (AXP)

While developing and testing the proof of concept that was www.dashub.com, the team began getting feedback from their members. They wanted to be able to buy auto parts and performance aftermarket parts, they wanted the option to add auto insurance to their purchases, and some of our overseas members were asking for enhanced international capabilities. But above all of that, our members wanted to see higher-priced daily drivers, vehicles with less or no damage.

So the DASHUB team was hard at work planning for future expansions when they discovered the opportunities and benefits afforded to them by the use of blockchain technology. This is how the blockchain idea for the Automotive eXchange Platform (AXP) was born, and its supporting security token, the Automotive eXchange Token (AXT).

The DASHUB team is hard at work further developing DASHUB and producing the AXP’s platform and token sale.

If you’re interested in learning more about DASHUB, or browsing their inventory, visit www.dashub.com.

If you’re interested in the team’s blockchain-based platform and supporting token sale, visit their token site at https://axt.io.

There is much more I could say about the company, our past, select highlights and accomplishments, some of the characters and priceless moments, and what our plans are for the future, but all of that is beyond the scope of this brief overview article. Maybe another time?

Thanks for reading!