Categories: Ethereum

BitCar Announces a Platform Update that Will Make Fractionally Owning a Ferrari 599 GTO That Much Easier

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BitCar Co-founders Gov van Ek, and John Bulich will be greeting some of the thousands expected at the Goodwood Festival of Speed event later this week and showing how they can fractionally own a stake in a half million-dollar collector edition Ferrari 599 GTO on display.

Having recently announced its mainnet launch on May 6th starting with the Ferrari 599 GTO on the Ethereum public network, BitCar plans to list only the rarest and finest models from marques such as Lamborghini, Ferrari, and Bugatti.

BitCar Co-founder Gov van Ek said, “We’re very pleased to announce an update to our payments processing system as well as an opportunity for people to win a fractional ownership stake in a half million-dollar collector edition Ferrari 599 GTO. Both these announcements support our goal of empowering anyone to own part of a top collectable at an affordable price point.”

Using a dual token model, BitCar’s CAR tokens are records of the acquired or traded fractional ownership in the form of digital receipts used by the platform. As a real-world, asset-backed stablecoin, BitCar provides holders with stability in a volatile market. BitCar’s utility token (BITCAR) is needed to access the platform and can be used to pay for fractions of cars as well as vote on day-to-day decisions with regards to the cars.

BitCar is excited to announce the following updates:

  • BitCar is one of the first ICO’s to successfully deliver a project following the cryptocurrency winter.
  • BitCar will soon launch a credit card payment option to make owning a fraction of BitCar’s Ferrari even easier and remove entry barriers for general car enthusiasts.
  • BitCar is participating in the Goodwood Festival of Speed from the 4th to 7th of July, where an estimated 150,000 guests are expected at the biggest motorsports event of the year. One lucky visitor to the BitCar stand will win £500 fractional ownership in a half million-dollar collector edition Ferrari 599 GTO.
  • BitCar is sponsoring London’s Fintech week the 8th and 9th of July. Co-founder Gov van Ek will speak about asset tokenization and alternatives to (Security Token Offering) STOs on the 9th of July at 11:15AM.

For media or partnership inquiries, please contact info(at)bitcar.io

About BitCar:

BitCar Platform is a live peer-to-peer trading platform that enables fractional ownership of Exotics (rare and exotic hyper, super and classic cars). Once an asset only available to the wealthy, BitCar enables anyone to own a piece of an exotic car through proof-of-ownership tokens that can be traded on BitCar’s decentralized platform. By leveraging blockchain technology and a dual-token system comprised of CAR asset tokens (or “Car Coins”) and the BITCAR utility cryptocurrency tokens, BitCar allows fast, private, low-cost trading 24 hours a day, 7 days a week. Because CAR tokens are backed by real, high-performing assets, the stablecoin offers much-needed predictability in a volatile crypto landscape.

Disclaimer: Exotic car values can go up or down and past performance is no reflection of future prices. The BitCar platform will be closed in certain jurisdictions including the USA, Portugal, Singapore and Australia.

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

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