I think that Repo Blockchain is about to change this. The repo / coin project is not going to raise funds by ICO, but we plan to allow participants to acquire tokens instead. This avoids the public madness FOMO frenzy allowing people to invest money.
Blockchain technology and smart contracts
They will streamline the auto repossession process and the exchange of information between auto lenders and repossession companies by using smart contracts on their blockchain platform.
With smart contracts we can eliminate the delays and additional fees that often occur as a result of inecient communication practices, where repossession companies end up storing vehicles for some period of time before they are returned to the lender.
Our smart contracts will require both parties to share important information and status updates in real time, preventing auto lenders from having to pay extra fees for unwanted vehicle storage and also ensuring that their assets are returned to them as quickly as possible once they have been recovered.
Repo Blockchain wishes to partner with automobile finance industry leaders to strengthen the auto-reposition process. The concept is simple: Scan license plates and receive compensation tokens that identify tagged vehicles.
For more info visit their website at http://repocoin.io/
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