BitCar is the first truly unique platform, operating on P2P principle, which allows users to trade rare, exclusive cars with fast and reliable cryptocurrency. The platform uses its own token - BITCAR, which participates in all operations performed. The developers created another type of the platform token - CAR, each of which has a special identification number, which reliably indicates the connection between the token user and the exclusive car in reality, and not on paper.
BitCar service works in the following way:
- The platform looks for real owners of suitable cars and signs contracts with them;
- Further, project users purchase BITCAR tokens, which in turn give an opportunity to purchase a token of a higher CAR level. It has differences depending on the selected car;
- After this, the price of the car selected by a user increases. The account will receive funds depending on how the cost of the car changes.
At the initial stage of the project, it is planned to sign contracts only with the owners of really expensive, exclusive cars with the cost of at least $650,000. The contract imposes certain obligations on an owner. So, he/she regularly needs to update the insurance and carry out a full maintenance of a vehicle. The owner is also expected to profit depending on the change in the price of a car on the market. The contract for one car will be concluded for a period of 5 years. At the end of this period, the co-owners will have to decide through voting whether a car remains in the project for another term of 5 years or is subject to sale.
When the car arrives on the platform, part of its value in the amount of a small percentage will be delayed as the return premium in the BITCAR tokens. This is necessary in order to make payments to the owners of car with CAR tokens in the event that this car is sold. This is an incentive to keep a car on the platform. Users should keep the minimum number of BITCAR tokens on their account for permanent access, and also purchase special car tokens - on the whole, the amount will depend on the size of the specific portfolio.
The BITCAR platform tokens working on ERC20 standard will be available during the ICO. With their help, you can both purchase and sell exclusive vehicles related to tokens, directly on BitCar market.
A total of 500 million BITCAR tokens are planned to be issued, half of which are to be sold during the ICO. The price of each token is 10 cents. The tokens will be distributed as following:
- 95 million are distributed between the founders and the team;
- 40 million will go to sponsors, third-party owners and Bounty;
- 60 million will be aimed at stimulating further growth and development of the platform;
- 55 million will be allocated to the reserve fund.
Thus, BitCar is a new system for safe purchase and sale of expensive cars with the help of cryptocurrency, as well as the ability to make a profit depending on the price of the vehicle on the market.
Website: https://bitcar.io/
White Paper: https://bitcar.io/data/BitCar%20Whitepaper.pdf
Telegram: https://t.me/bitcar_io
Facebook: https://www.facebook.com/bitcar.io
Twitter: https://twitter.com/bitcar_io
Medium: https://medium.com/@bitcar
ANN: https://bitcointalk.org/index.php?topic=2406756.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049