Revolutionary BitCar Platform Opens Up a New Asset Class for the First Time
New Decentralized Exotic Car Crypto Trading Platform
BITCAR tokens can now be purchased on the following exchanges for use on the BitCar Platform:
IDEX, DDEX, JOYSO, Token Jar, Blockfolio
How Does it Work?
Trade your way to an exotic. BitCar opens up a whole new asset class for the first time on the blockchain. The BitCar Ecosystem allows for real usage of the token within the platform, so demand for the cryptocurrency is expected to grow over time. BITCAR tokens will be used over the course of the acquisition of the Exotic for maintenance, storage, insurance and licensing (MSI) as part of joint ownership.
The BitCar Platform will have a network of Agents who will manage the onboarding of Exotics including tokenization on the platform and MSI. Assets Managers on the Platform are responsible for transfer and update of the assets. The Platform Manager is a messaging system for modules within the platform. And the BITCAR Token is the main ERC20 Token that handles all transactions on the Ethereum blockchain. A secondary ERC20 car token represents individual Exotic assets on the platform that facilitate tokenized ownership of Exotics.
Types of Exotics to Be Acquired on the Platform
The line-up of Exotics to be acquired for the Platform include collector cars like Ferrari F40 and F50, Bugatti Veyron, Lamborghini Aventador, McLaren P1, Koenigsegg One and more.
Funds from ICO token sales will be used to bring on initial Exotics and then accelerate and underwrite new Exotics onto the Platform. The objective is to aggregate $500+ million of Exotics within the first 3 years of operation and build out to exceed $1 billion thereafter. These targets will drive the need for BITCAR as the ecosystem of users grows.
The Voting System
A voting system within the BitCar Platform allows fractional owners to vote on the liquidation date of Exotics, the asset is normally held between 5 to 15 years on the platform. A minimum sale vote needs to be reached among token holders to initiate the sale of an Exotic.
CAR token holders who own all or a mojority of the tokens of a vehicle can take posession of the vehicle (drag-along provisions will apply), which burns the specific car tokens. Alternatively, they can choose to put their CAR tokens back onto the platform.
Gamification
An Incentive System within the BitCar Platform rewards Users in BITCAR Tokens for marketing the ecosystem and other activities like trading performance, with the Ultimate Reward for users to own their own Exotic car. Users will be awarded different levels according to their trading performance and earn BITCAR reward tokens and other prizes over time.
Competition Prize
Competition Prize could be a Lamborghini Subject to the BitCar ICO selling tokens to raise a minimum amount (to be announced at the time of the ICO) in Cryptocurrency (and subject to any other applicable terms and conditions which will be defined) a one off first prize in the competition will be a Lamborghini, Huracán. This incentive will reward a user who has consistently and over a period of time contributed to the growth of the Platform and the Ecosystem.
Achievements to Date
BitCar was conceived by Ledger Assets in 2015, a leading Blockchain Technology Company in Australia. BitCar’s prototype software platform (BitCar.io) has been designed and built in-house and has been under development for over 2 years.
Whitepaper
For more information about the BitCar Whitepaper, please read it here:
Use of Token
Meet the Team
Social Media
Media Coverage
AUSTRALIAN FINANCIAL REVIEW: BitCar ICO seeks $25m from supercar, Bitcoin fans
BUSINESS INSIDER:This Australian startup will offer shares in luxury cars in a bid to raise $26 million in an ICO
MEDIUM:Revolutionary BitCar Platform: New Decentralized Exotic Car Crypto Trading Platform
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