Dubai eighth January 2018 – Blockchain platform BitCar is making a pit cease within the United Arab Emirates as a part of a worldwide tour to lift greater than US$20 million in an Initial Coin Offering (ICO).

BitCar will showcase its unique automotive possession platform on the Dubai International Blockchain Summit – because the Gulf area emerges because the world’s No.1 marketplace for ultra-luxury vehicles on a per capita foundation.*
“BitCar is the primary Blockchain platform on the planet that makes unique automotive possession accessible to everybody, not simply the uber-wealthy,” stated BitCar co-founder Dr. Gov Van Ek.
Luxury vehicles resembling Lamborghinis, Ferraris, and Bugattis will likely be acquired by BitCar and saved or displayed for as much as 15 years whereas they admire in worth.
The vehicles will likely be tokenized and other people will be capable of park their crypto in BITCAR tokens, which will be traded on the decentralized Blockchain platform.
“An Aston Martin Vantage Zagato that price about 440 thousand dollars in 2013, is now being offered for greater than 1.1 million dollars. Certain unique vehicles have outperformed different asset lessons over the previous decade,” stated Dr. Van Ek.
According to the Knight Frank Luxury Investment Index, worthwhile vehicles have strongly outperformed gold, US shares, non-public fairness, and REITs over the previous three years.
Dubai has a penchant for luxurious vehicles. At the Dubai Motor Show, McLaren unveiled a bespoke model of its 720S for a Dubai buyer – full with a 24-carat-gold engine warmth protect, gold painted wheels and Arabic calligraphy of the Dubai skyline on the air brake.
“The Gulf area loves unique vehicles, however possession is concentrated amongst royalty and the rich enterprise elite. BitCar is giving everybody an opportunity to personal a fraction of their dream automotive,” stated Dr. Van Ek.
BitCar has been established by globally acknowledged Blockchain expertise firm Ledger Assets, which additionally developed the expertise behind power buying and selling platform Power Ledger.
“We have a confirmed observe file within the growth of disruptive expertise that challenges conventional enterprise fashions. We are beginning with unique vehicles and can broaden our enterprise from this platform,” stated Dr. Van Ek.
Verified brokers will supply, purchase and retailer the unique vehicles for a interval of between 5 and 15 years, at which level they’ll be offered and the asset appreciation distributed amongst token house owners.
“It’s the one collectible asset class that may’t be faked, which is why we noticed it because the lowest danger,” stated Dr. Van Ek.
BitCar is working with ASX-listed DigitalX – the company advisor for the ICO. DigitalX will join BitCar to its international community of cryptocurrency traders, together with these within the Middle East.
BitCar will likely be issuing as much as 250 million tokens within the sale, opening on January 25.

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Images courtesy of BitCar
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