News and Announcements
BitCar announces launch of test network for exotic car ownership
- Published April 25, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Highlights
- BitCar has announced a new test network for its members to experiment with buying and trading fractional ownership of exotic, rare, super and classic cars.
- BitCar has allowed for exotic car ownership via tokenization, decentralization and peer-to-peer blockchain technology available 24/7.
- Bitcar is running a bug bounty programme whereby the discovery of any serious bugs will lead to potential reward.
BitCar has announced a new test network for its members to experiment with buying and trading fractional ownership of exotic, rare, super and classic cars. They have now launched a Minimum Viable Product version of the Ethereum Ropsten Test Net and are seeking feedback from the community in the lead up to the Main Net Launch scheduled for late April 2019.
BitCar utilises the dual token structure, whereby the BitCar’s (CAR) token is a record of the fractional ownership. In essence, the token is a digital receipt and a real-world asset-backed ‘Stablecoin’. Never before has exotic car ownership been available via tokenization, decentralization and peer-to-peer blockchain technology. Minimum participation is $USD50 with peer-to-peer trading available 24/7. Bitcar is running a bug bounty programme whereby the discovery of any serious bugs will lead to potential reward.
About BitCar
In a world first, the BitCar platform allows fractionalized ownership and decentralized peer-to-peer trading in Exotic Cars with a new BITCAR token. Imagine being a part-owner of a Ferrari F40, Maserati MC12 or Bugatti Veyron just to name a few. Owners can peg their crypto to these hard assets for protection during times of high crypto volatility.
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