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Author Topic: [2015-12-15] Cointelegraph: Wanna Have a Crypto Lamborghini?  (Read 23 times)
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December 15, 2017, 12:12:32 AM

Wanna Have a Crypto Lamborghini?

One of the most fun parts of the recent BlockShow Asia 2017 was meeting new great Blockchain-powered companies driving the industry in the APAC region; so was BitCar, a Singapore-based project which implements quite an innovative concept - peer-to-peer ownership of exotic cars. The Cointelegraph team had a chance to chat with Gov Van Ek, the co-founder and Sheree Ip, legal & Blockchain development head at BitCar, about Singapore, reading and how the things were different back in 2013.

However, all the chats with company representatives came after the main part of the conference - in which BitCar were directly and so actively involved.
Hong Kong, Singapore and yellow Lamborghini

The recent conference wasn’t the first collaboration experience for BlockShow and BitCar. A couple of months earlier, Sheree Ip also joined the BlockShow meetup in Hong Kong, where she took part in Regulatory Panel Session and also gave a brief interview afterwards. The location of the BlockShow Asia main conference - Singapore - seemed good for the BitCar team: not only because of the city’s status of one of the biggest global business hubs but also because of the location of the BitCar itself. Gov Van Ek, co-founder of Bitcar, said:

    “We chose Singapore specifically for BitCar. The talent pull here is very high, the education system is fantastic, and also everything from the monetary authority of Singapore through to other regulates and the community itself is becoming increasingly supported with high-quality fintech and ICO companies, so that’s why we feel confident in basing ourselves in Singapore and setting up our company here. We think it’s a great environment here.”

BitCar managed to draw everyone’s attention the day before the conference - all because of the yellow Lamborghini car which was clearly supposed to become the main attraction of the company’s exhibition space. It already became clear back then that the company really got prepared for the event.

And it turned out to be true. Apart from being one of the biggest BlockShow exhibitors, it’s hard not to mention the contribution BitCar brought to the conference programme. Thus, in the first day of BlockShow Gov Van Ek shed some light on BitCar activities and provided his rich insight on Fractional Ownership of Exotic Cars - an innovative concept developed by the company. In his speech, performed from the main stage of the event, Gov Van Ek explained the company’s vision of exotic cars as not just a piece of art, but a high-class asset. He explained his point of view with several examples, also expressing his regret for this asset not being properly explored in some parts of the world:

    “Right now in China there is still a ban on importing this kind of cars, and it’s only matter of time before it opens up and there are thousands of millionaires who are going to want to get involved in that asset class, so this asset class is really exciting - that’s what we think.”

Speaking of the second day of BlockShow Asia 2017, it's hard not to mention Sheree Ip participating as a panelist in a discussion titled The Major Laws Blockchain is Going to Change. There Sheree shared an interesting insight: it often happens that working with utility token can’t fit into commonly accepted structures or classifications (including the regulatory ones) and creates some brand new forms, which the current law will have to adapt to.

    “So, we’ll see a lot of changes in the laws coming very shortly, or small amendments even...coming in the next couple of years.”

Being one of the main sponsors of BlockShow Asia 2017, BitCar was rather closely involved in the organizational process - and that’s why it’s even more pleasant to receive such positive feedback from them.

    “We thought it was a well put together event! The Blockshow Team accommodated us very well with our special requirements of moving our Lamborghini in. Presentation stage gave us a fantastic opportunity to explain our product to attendees. Network opportunities were great there, with dedicated spaces to allow for this and after parties organized by Blockshow. We were very impressed with all the extra effort put in with the artwork, CT and Blockshow style. Overall we had a fantastic three days and would be keen to be a part of the next event Blockshow event! Well done.”

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December 15, 2017, 06:44:33 AM

CarFax does a pretty good job already, but could utilize the blockchain like BitCar. DMV could also use it. Anything to shorten the waiting line, please Smiley
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