Joint Announcement: BitShine Group and CREAM’s Strategic Investment In Cahrenheit

August 6, 2018, SINGAPORE

Bitshine Group and CREAM announce their private round investment in the Cahrenheit Foundations project Cahrenheit. This round was designed to bring together value-driven enterprise and industry leaders with the Cahrenheit real world blockchain use case through early investing opportunities.

Cahrenheit aims to disrupt a global 1 trillion dollar automotive aftermarket industry through blockchain-based ecosystem address fundamental structural issues and provide tangible economic benefit to Consumers, Small and Medium-size companies (“SMEs”), and Enterprise Data Users (“EDU”). Consumers will enjoy a lower cost of car ownership; SMEs will reach higher capacity utilization and additional income; and EDUs will, through higher quality and more holistic data, more accurately price product risk (such as insurance or loans).

Bitshine and CREAM have been advising Cahrenheit from the setup stage on matters of token economic design, team development, technology roadmap, marketing and PR, and business rollout; Bitshine works closely with the founding team and partners to co-advance the CAH ecosystem. Through these joint-efforts, Cahrenheit is best-positioned to tackle and solve the most fundamental issue of information asymmetry bringing economic efficiency and improvement to all walks of the auto service-related industries.

“We at Bitshine believe our investment in Cahrenheit will generate significant long-term value given 1) CAH provides substantial economic benefits to the real economy and ecosystem participants; 2) its unique and holistic approach to moving data on-chain in a decentralized way, first involving local community of consumers and SME service networks and in the future IoT devices; 3) its world-class team of unicorn builders that share the same vision and proven execution capabilities; 4) CAH’s direct access to auto service providers networks establishing the basis for use case proliferation.” Daming Zhu, Managing Partner of Bitshine Group, venture capitalist and angel investor of Binance.

“When Bitshine brought Cahrenheit to us at CREAM, we decided immediately to take on the global market strategic advisory and consulting roles. It became abundantly clear that Joe was working with an impressive business scope. His team at CAH has proven abilities with a deep network already established within the industry. Joe isn’t just adding a blockchain use case to his existing business model making a quick gain, he is aiming to ruffle many feathers in the trillion-dollar automotive aftermarket industry with long-term solutions and innovative token use-cases. For choosing to tackle the complex problems over the easy way to a deeper wallet, I applaud the CAH team’s ambition. Their passion for social responsibility and Joe’s strong will in fulfilling his childhood dream of bringing the power to the people are making every aspect of owning a car enjoyable.” Lila Selene, Founder and Managing Partner of CREAM, Global strategy advisor of VeChain Foundation

“We highly appreciate BitShine and Cream’s early contribution to our ecosystem design and tireless efforts in assisting our project launch. We admire their transparent and entrepreneurial culture, their people, their long-term thinking and willingness to be active creators like ourselves. We look forward to accomplishing so much more together in the future.” Joe Lee, CEO, and Founder of Cahrenheit

About Bitshine Group

Bitshine partners with extraordinary individuals, both corporate leadership or start-up teams, to co-advance together from the ground-up. Starting from idea conceptualization all the way to post-listing global ecosystem development, unlocking and driving unprecedented value creation.

About CREAM

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Official account for CAH Foundation. An ecosystem for the automotive industry powered by the VeChainThor Blockchain

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