The Repo token is a handy way for everyone itch a phone to earn crypto without any initial investments. by scanning plates you can help and earn.
Repo Coin = Blockchain Tow Truck
Link to the main website
Link to price/market cap
Exchange Ticker (REPO)
Coin or Token
Circulating Supply (109 Million)
Total Supply (356 Million)
Market Cap Ranking
The Repo token is a handy way for everyone itch a phone to earn crypto without any initial investments. The project comes from the car repossession industry. It mitigates the risks of non-payment by borrowers in a peculiarly creative fashion.
- How it works
- The need for Repo
- Will it work
How it works?
Simply speaking, a user who has downloaded the app will be encouraged to scan the license plates of parked vehicles. If one of these cars will appear to be reported by the lean holder, then that car will be returned to the owner while the app user gets a reward in the form of Repo tokens.
Repo tokens can then be exchanged for goods and services from the Repo store.
This seemingly simple plan is actually quite beneficial to the car repossession industry as auto lenders and repossession companies will find a faster, cheaper, and safer way to do business.
The need for Repo
Thanks to the subprime loans we’ve seen in the past few years, the auto repossession industry has reached more than $1 billion and is still growing. That said, it has not yet experienced any meaningful technological innovations.
Repo coin was designed to bring this needed edge into the industry via designing a community-based ecosystem of engaged individuals. The technology used by Repo is to simplify the tracing of delinquent vehicles by simply giving out a scanner to everyone.
That being said, Repo’s goal is not the distribution of scanning technology. The project tries to create the most comprehensive and reliable real-time database of delinquent vehicles.
Such an approach should, in theory, allow for minimization of expenses in the industry by creating a rewards-based system where everybody wins.
Will it work?
We cannot currently predict whether Repo will work or not as it is heavily dependent on the community. They are, in fact, offering tokens to everyone willing to scan the plates of parked vehicles. Free money is an insanely powerful motivator.
The team behind Repo is also doing a great job on social media platforms like YouTube, Facebook, Reddit, Twitter, etc. They have managed to build a tight community around them through great humor and clever commentary.
It really looks like Repo has a lot of potential right now.
That being said, a similar concept of walking and doing stuff was already used in other mobile applications like the Pokémon Go app. Sure that was a game and it offered no monetary rewards to players, but they also had a loud, dedicated fan base before and during launch. Where are they now?
As skeptical as the next line may sound, we currently do not believe that the project will generate enough users willing to scan the license plates of vehicles, even for a monetary reward like the Repo token. Although if the project will rise, it has the potential of marking a new age for a $1 billion industry so there’s that.
- Potential earnings
- Better parking availability
- No direct backing (asset, profits, commodity)
- High competition
- Possible confrontation and risks