The ownership of the mega, hyper, and supercar was only available to wealthy people till this date. BitCar is world’s first decentralized platform based on Ethereum Blockchain that enables individuals to hold its BITCAR tokens through which they can own exotics like supercars. Additionally, it enables people to trade exotics in small fractions. A CAR token of the second level will be utilized as an electronic asset token for exotic cars of individuals.
The enthusiasts of classic cars as well as traditional exotic cars can now get access to the best performing assets of the world. BitCar is the first platform that has enabled people to get the ownership of special assets for the first time.
Verified agents are going to store, source, acquire, and display the resources on this platform. After a period of 5 to 15 years, these tokens will be sold to the owners of asset tokens. During that time period, the users are allowed to do p2p trading of their interests without the use of any third party.
The tokens of BITCAR offer benefits to the users of the decentralized platform of BitCar. Moreover, it provides access to the tokens of second order for p2p trading as well as the acquisition of exotics. Plus, these tokens can be used as a scheme to provide incentives to the parties that are involved in the marketing of the ecosystem.
The owners of these tokens have the power to exercise control over the fractionalized tokens. Plus, the owners get the right to vote on the resolutions affecting their ownership, like car displays and the dates of liquidation. It is comparatively simple from a technical point of view as the technology of Blockchain is the core of this virtual platform.
The assets of these platforms are connected to the decentralized exotics and have their own existence. The use of Ethereum interface and smart contracts facilitate the transfer of ownership and safe connection between the components for trade as well as ownership on the public Blockchain of Ethereum. These tokens of assets are known as CAR tokens and every exotic car owns these tokens of CAR.
Connecting the tokens of Blockchain with physical assets has always been a complicated procedure and is growing rapidly. Many projects have developed the technology as well as the transaction of decentralized nature. The team members of BitCar as well as the ledger assets have developed the skills and technology required for launching the platform of BITCAR.
A lot of effort has been put into the legal work as well as the development of prototype software for designing the car tokens. Moreover, the team of BitCar is working hard to comply with the rules related to knowing your customer as well as anti-money laundering.
The ledger of Ethereum Blockchain is utilized for all kinds of traded interests offering transparency in the decentralized platforms so that rehypothecation can get eliminated from peer2peer trading of exotics. If you want to get additional information about BitCar and its Blockchain-based platform, then view its whitepaper.