Singapore – April 6, 2018 – Blockchain company BitCar is forecasting its platform will be an important hedge against price volatility in the cryptocurrency markets due to BITCAR tokens being pegged to physical assets.
The concept for BitCar is to peg cryptocurrency to scarce hard assets, such as rare and exotic cars – which have historically outperformed gold, stocks and property over the last ten years.
This chart shows that exotic cars have experienced the highest appreciation of luxury items over a ten year period.
Singapore headquartered BitCar is developing its Blockchain platform that will facilitate cryptocurrency payments for fractional ownership of highly collectible hyper and classic cars.
Rare exotic cars such as Lamborghinis, Ferraris and Bugatti’s will be acquired for BitCar and stored or displayed for up to 15 years.
“BitCar is targeting high-end cars as they’ve historically had much lower price fluctuations than cryptocurrencies. The BitCar platform could be a place of stability in times of crypto market volatility,” said BitCar founder Dr Gov Vank Ek.
This chart shows the price volatility of collectable cars compared to Bitcoin and global stocks. The lower the volatility, the more predictable the price of the asset.
Similar to some other cryptocurrencies, BitCar uses a dual token system, meaning people can buy BITCAR tokens and then use this to acquire CAR tokens representing individual exotic cars on the BitCar platform.
The BitCar platform is designed to allow CAR token holders to peer-to-peer trade their tokens with others at any time, which BitCar hopes will grow into a large live marketplace over time.
For more information go to www.bitcar.io