Why Bernie Moreno (mostly) quit auto sales

X Scalper

He turned to vital records. “One vital record that is a thorn in every car dealership’s side is the car title,” Moreno said. “The idea that in 2019, you have to have this physical piece of paper that represents ownership is so cumbersome.”

To that end, Moreno in February launched CHAMPtitles, which uses blockchain to create secure, digital vehicle titles. He likens it to digital airplane boarding passes. With CHAMPtitles, digital titles can be transferred instantly, he said, and vehicle owners can be notified of safety recalls as soon as one is issued.

Moreno aims to roll it out in at least half a dozen states this year and eventually take it to all 50 states.

“We think that’s a very, very big, scalable company,” Moreno said. “And we’re not only talking to states, we’re also talking to countries” in Africa, Central America, Asia and Europe.

CHAMPtitles is one of several ventures in his Ownum company, an incubator for blockchain-use ideas.

Moreno has a “significant investment” in Dryver, which he calls the “Uber of on-demand chauffeurs.” The company began by offering designated drivers to people after a night of partying and has morphed into a general on-demand chauffeur service in more than 76 cities across 31 states, according to its website.

Also in Moreno’s portfolio is a luxury-vehicle subscription service called Drive Options, in which customers pay $1,475 or $1,875 a month for access to a range of vehicles in a 250-vehicle fleet, which Moreno owns.

Other ventures or investments include an app for people fighting cancer; a subscription service to find exclusive rates on travel items such as hotels; and an on-demand private jet membership.

At Moreno’s former Nissan store in Brook Park, Ohio, which features a pingpong table and an old Volkswagen bus for decoration, 15 coders work flexible hours for Ownum.

It’s the next chapter for Moreno.

Be the first to comment

Leave a Reply

Your email address will not be published.