Will crypto be the cure-all for all your car economic pressing needs?
A whopping $19 million was paid for a Bugatti hypercar. The “La Voiture Noire”, a pretty long name for a car as the amount of numbers needed to write the check to purchase it.
It represents the most expensive car ever built.
The buyer was kept in secrecy by the automaker.
The Bugatti price tag made me think a little about the 7 million car owners in the USA being trapped for at least 90 days behind their car loans. This situation basically pushes their automobiles toward a tiny line from being repossessed.
By playing around with numbers made me notice that 20 million dollars may have covered over 60,000 installments on a $300 monthly invoice each. Still an amount that pales compared to the total seven million dollars in subprime loans mentioned above.
Keeping on the speculating side of this narrative I wonder whether those 20 million could have even paid for 1,508 brand new Nissan Versa or 1,230 zero-miles Ford Fiesta at their current suggested retail price.
The fact is that automaker sales seem to be lagging and anyone can see car dealership lots being full with 2018 models despite the closing of a number of plants in recent years.
Can crypto turn this industry around? I do think so. But in what way?
For starters, car drivers are treated as the pariahs of the entire automotive supply chain. They not only are the one being somehow cheated by the car salesman but also they’re constantly being beaten up throughout the lifetime of the car loan, in a financing deal that will end up upside-down, when driver continues paying quotes for a vehicle with a lower reselling value, favoring the financial house issuing that high-interest loan.
Besides the loan experience, the car driver is exposed to the street elements that include the obvious costs like gas, oil change, tag, and emission testing, wear and tear, car insurance, wheels alignment, car wash, parking, toll roads and a long laundry list of expenses for maintenance that for most might exceed the $8K annually.
I’ve left the traffic violations for last, which as you know might set you back into the hundreds of dollars without including missing time from work, traffic school, points on your driver’s license, counseling and community service in a number of cases.
All in all, being a driver sounds like a calamity. And yes, no wonder how comes Uber and Lyft-alike are so successful, right? Drivers are fed up already.
There should be a human side for the automotive business. A model where the driver would be the priority for the financial house instead of the machine price value.
It might be a time for crypto to come to their rescue.
And I believe so. Let me explain. walletever has created a cryptosystem as the enabler of solutions for most situations related to owning an automobile. The system is crypto-funded and works on an innovative protocol that takes your driving skills as currency, so you may add driving points in order to build a driver’s average which eventually will be auctioned along with the rest of the car drivers participants, for a mining block equivalent called Safe Driving Certificate.
walletever business model is based on personal road mining licensee -for anyone 18 years of age and over with a government-issued non-expired driver’s license; or in other words, getting access through Mo-Fi to a computer vision mining protocol that replaces computer power hashes for video feeds. These feeds are evaluated in real time by a TPS-powered action recognition algorithm which operates like nodes.
In simple words, your safe driving manners would get you in the mining business to earn crypto.
Car drivers not only can feel relief but they also own the entire ecosystem through a fractional ownership model that invites roadminers to enter in a P2P lending platform by making their mined assets available for lending to third-party roadminers and small business at affordable rates.
Roadminers might be granted access to a variety of lending packages that will be paid back in crypto through collection mechanisms place to work by Medular. Mined access can be used as a warranty on a secured loan scheme.
Conveniently, all the elements were created to work synced and within the same platform.
For walletever, this is a social strategy focused on empowering the masses through proper implementation of crypto economics. Although targeting the individual, it’s called Collective Wealth Formation.
In the walletever case, it won’t be an ICO, STO or premined assets. No ERC-20 but a native protocol for mining. The total supply/circulation for its coin is set to be 100% mineable. No surprises in a mining protocol supported by typical civic norms and traffic rules that most of us are familiar with.
If any of the licensed roadminers with granted access to walletever Medular can make enough to pay for a Bugatti like this in the future we’d love to see it happening. What is key, however, is that most might increase their financial capacity to afford their car loans without hesitation based on the crypto payment plans walletever has configured for qualified recipients.
Despite the hype about autonomous vehicles, I believe walletever is hitting on an evolving but mature industry with in excess of 10 billion cars already manufactured throughout the world. Close to 20% of that total are on the roads.
Although a very promising business model, walletever development is still going through planning and technical design. Further development will be financed by its Upfront package plan for Road Mining Licenses.
You might get acquainted with walletever vision and even support the promotional efforts through social media. In the meantime, you can visit us at walletever.com