Volatility is a big issue in the crypto world and everyone who has a stake in the blockchain enterprise is doing as much as they can to rid the system of this conundrum. The easy way out appears to be to peg digital currencies to real-world values that are constant – or would seem that way; thereby gaining more credibility and worth both in the digital world and in the real world.
Bitcar is one of those blockchain initiatives aiming at a truly decentralized platform of and for real asset worth. Cars, and not just any car but exotic cars have been known to provide some kind of security leverages when owners seem to be in a tight spot. Now more than ever, there is an appreciable use of these assets other than to flaunt them in one’s garage or in a showroom.
With their complex luxury build, social and financial influential values, these cars as hard assets – seem to be the best thing to hedge or stake their importance upon digital assets. Many will agree that these cars confer some type of economic importance both to the high class in the society and the companies who make them.
Using the Ethereum blockchain, Bitcar.io will be creating a platform where stakeholders can own fractions of exotic cars using the platform’s token in a peer to peer manner.
This platform will inherit all the qualities of traditional cryptocurrencies and their functions conferred by the blockchain. Only this time, the volatility index is expected to be drastically reduced by the pegged asset.
They will be conducting a crowdsale to raise funds for the development of the project. By selling 250 million Bitcar tokens from a total of 500 million tokens, at a base price of 10 cents per token, the team wants to collect a sum of $22 million USD to execute their project. The TGE will last for the period of 31 January 2018 to 20 April 2018.Visit website