BitCar is now set to launch the world’s first fully decentralised Car tokenization platform in April
In a world first, BitCar is set to tokenize the first Ferrari onto the Blockchain on April 18 with the launch of its fully decentralised Car Tokenization Platform.
BitCar’s Platform will allow users to buy and trade interests in high-end exotic cars and the company has acquired a rare, limited-edition Ferrari worth over half a million US dollars, which will be sold in fractions on the platform (model and details to also be released soon).
The April 18 release will be onto the Ethereum Ropsten test network. A bug bounty programme will then run for 10 days where the community has a chance to win rewards by testing out the platform and finding any material software bugs. We will also be providing a BitCar faucet for obtaining test tokens.
BitCar will then go fully live on the Ethereum network on 28 April.
The Platform itself is a substantial piece of high-tech work which took the team over a year to build, has been audited by an external party and has been in testing for some time. Its front-end and back-end are decentralised (utilising both IPFS and the Ethereum blockchain network) bringing a new level of security to advanced tokenization platforms such as this.
“Over the last decade, exotic & classic cars have continually outperformed other traditional asset classes, such as property and gold, and BitCar’s new Platform will open up this market — traditionally the preserve of the super-rich — to everyone.” — Dr Gov Van Ek, co-founder of BitCar
For more information about BitCar and for our live launch count-down, please visit: https://bitcar.io
BitCar is a blockchain-based platform that allows for fractional ownership in the best performing asset class of the last decade: collectable exotic cars. For the first time the mass market will have access to this best performing asset class, which will be tradable on BitCar’s trading platform. Additionally, the live auction platform allows users to eventually trade their way up to full ownership of an exotic, allowing them to have the option to take the exotic for themselves. Using a dual token economy, BitCar’s asset tokens, are backed up by the physical, hard-metal exotic cars and pegged to their USD value- acting as a “stable coin”. This provides relative protection in times of crypto volatility.
Over the last two years BitCar, assisted by Ledger Assets Pty Ltd, have established and developed the BitCar technology, skills and grown the team to bring the BitCar Platform to launch. Ledger Assets, a leading blockchain commercialization company in Australia, has been behind several successful blockchain companies. BitCar was established in 2015 and developed its world first prototype trading platform technology. Over the last year BitCar has extensively tested its platform and will be further developing and transforming it into a decentralized trading platform for Exotics.
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