Alchemy Coin Makes Hybrid Car Bet, Teams with Careonchain
New York, New York
September 12, 2018
Alchemy Coin made a big bet on clean technology as it announced an exclusive arrangement with Careonchain, a researcher and developer of hybrid cars. The deal is an indication that Alchemy Coin continues to find ways to add diversification to its balance sheet ahead of its October Initial Coin Offering and further demonstration of the power of Alchemy’s growing global network.
Alchemy Coin CEO Justin Jung said the deal made sense for his team: “Having strong partners is the key to success in business, and we have found no stronger partner than the Careonchain team. Their vision about clean technologies in the automotive industry is every bit as bold as our attempts to disrupt lending practices around the world. We’re very excited to add Careonchain to the Alchemy network and look forward to decades of growth alongside of them.”
The growth of the electronic vehicle (EV) space, according to global consultancy Accenture, is sharply on the rise: “Despite the current low oil price, global EV sales figures have been growing rapidly: from 36,000 units sold in 2011 to more than 270,000 four years later. However, the market share of EVs as a percentage of the global automotive market in 2015 was only 0.3 percent. An increase to just 3 percent would equate to 2.7 million EVs. This potential for EV uptake, however, varies greatly across domestic markets.”
Goldman Sachs confirms that clean auto is the next wave of the future: “In the next ten years, the auto industry will undergo a profound transformation: the cars it builds, the companies that build them and the consumers who buy them will look significantly different. Technology will be leading this charge, but it will be shaped by four key themes. The car of 2025 will be: green, convenient, safe, and affordable: specifically, consumers and regulators concerned about climate change are putting pressure on automakers to reduce C02 emissions.”
“We see a much different landscape in five years across a multitude of industries,” says Mr. Jung. “And lending is but one of them — this deal puts us on the map as a committed leader to clean auto technologies, and I believe this partnership will resonate very strongly in our community.”
Speaking about this latest development, Careonchain CEO and Founder, Himanshu Lohani says: “We are happy to associate with Alchemy, for this strategic investment. This will help us represent Careonchain in the global investment forums and arena. We are confident on the immense value Alchemy and its team bring to Careonchain.” Mr. Lohani added: “This partnership places us at the center stage for greater awareness. It’s now going to be viewed as a major investment opportunity that’s backed by a respected and experienced team that has a track record of success for investors in crypto and traditional banking markets.”
According to the consultancy McKinsey: “Last year saw an uptick in EV sales in key markets, in line with announcements from several new EV strategies and upcoming models. It seems that China, in particular — driven by the involvement of the government and its policies, which affect EV buyers as well as vehicle and component manufacturers — is pushing ahead to develop its EV market and industry. As market share grows and as governments make the issue a priority in many regions, electronic mobility remains high on the agenda of the auto industry in years to come.”
“No doubt,” says Alchemy’s Mr. Jung, “the developing world will play a leading role in clean auto technologies — and peer-to-peer lending. We think this deal puts us in a position to capitalize with our new partners in both areas.”
Alchemy Coin is on an absolute roll this summer as the company has announced the hiring of several prominent Wall St. bankers, prepares to open a Seattle office to serve as a nexus to Asia, and continues to raise funds in an impressive manner for its ICO despite a brutal year-long bear market in Bitcoin and other cryptocurrencies as the slow pace of adoption and regulatory fears crimp investors demand for digital assets for now.
“The Alchemy Coin blockchain ecosystem becomes demonstrably stronger, more robust and financially viable today after we formed our long-term alliance with the brilliant minds at Careonchain, led by Himanshu and his team,” says Mr. Jung. “As we take our next steps together on this wonderful journey, we are confident we are building the right technologies at the right time in a turning point in human history.”
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About Careonchain: Careonchain is dedicated to find research based on hybrid cars across the universities and guilds of tech mavens. We will then choose the best project and hand it to the top vehicle manufacturers for further development. Careonchain will be entitled to receive a great amount of funds which it will distribute among its token holders. The number of vehicles running today are in gazillions. Just imagine all those vehicles turning into hybrid automobiles and you will not be able to precisely evaluate the profit that you can gain over the years. And this is not a far-fetched dream, there are a number of hybrid cards introduced already and the automobile giants are mulling over new projects and designs. That’s when Careonchain comes into the picture, we will relay the most innovative projects to the manufacturers and help the researchers get credited for their work. This project is noble enough to be reliable, in addition to it, we would also grow our business in coming years by providing ingenious work to hybrid car makers.
For more on Careonchain check out: https://www.careonchain.io/
medium: https://medium.com/@careonchainio
About Alchemy: Alchemy is a blockchain-based peer-to-peer (P2P) lending marketplace. The platform allows for instant and direct lending between supply-side lenders and demand-side borrowers from all over the world in a trusted manner using the advantages of smart contracts and blockchain technology. We offer a unique architecture to analyze and structure a credit risk-adjusted rate with the utilization of Artificial Intelligence and Machine Learning technologies. We aim to revolutionize the peer-to-peer lending market and serve as the leading infrastructure for credit providers and credit seekers. Alchemy will be the first peer-to-peer (P2P) lending platform that utilizes blockchain technology to reduce high credit risk and high default rate, while at the same time offering a risk-adjusted downside protection for capital commitment lenders. As Alchemy P2P credit products grow and the network expands, we aim to become the leading source of personal loan providers for individuals around the world.
For more information on Alchemy check out: https://www.alchemycoin.io/
