Chicago Beta Launch Planned for Q2
Mobile app start-up “Repo Coin” has recently begun it’s search for repossessors to help launch their unique phone app that serves as an LPR reader intending to use a combination of LPR technology, mobile apps, the public and blockchain technology to bring the public into the world of license plate scanning. Repo Coin, plans to reward app users with “Repo Coins” that can be redeemed for purchases and services much like a traditional credit cards Rewards program.
With a planned Q2 mobile Beta Launch release date planned for the Chicago area and their repossessor application inquiring if the applicant is licensed and has their own truck, it appears that they are also looking for repo agents in the same market. We have no had contact to find out what they’ll pay for a repo or who their clients are. Being a Beta launch, It’s safe to assume there may be “plant” vehicles for demonstration purposes.
As reported in January, Since they went public in May 2018, their stock value has recently gained massive growth as a percentile, 1,437%, up from $0.03 per share, to $0.50 as of this date.
Their White Paper states; “Our strategic goal is to decentralize the entire process thereby taking it beyond traditional practices that consumes time and efforts. With the aid of blockchain and automatic digital license plate number reader technology, this project will provide an end to end technology solution. This project will incorporate blockchain technology to the lending and service market.”
The app is not currently available in the Apple Store and they are still in development with their road map having been provided to CUCollector by their Communications Manager, Osrie Khaled;
Sept 2017: Project Launch – Concept & Team Formulation
Q1 2018: Developement – Blockchain Token Developement, Launch of Repo Coin Web Store
Q2 2018: Repo Coin Launch – Repo Coin Car Giveaway Program, Token Giveaways
Q4 2018: Mobile Release – Beta Launch, Chicago Market
Q2 2019: Native Apps – iOS, Android Release, Live Transaction
Q1 2020: Platform Expansion
Repo Coin claims to have “a number of professionals with extensive knowledge of the industry.”, but no one in their team line up in their White Paper show anything more than a tech background except their attorney and the Senior Corporate Banking Advisor, whose profile shows “Served as VP of Bank One, and an underwriter in the Large Corporate Automotive Group responsible for overall risk management for a portfolio of 24 relationships with an aggregate credit exposure in excess of $3.0 Billion”
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