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Blockchain platform BitCar has partnered with London-based cryptocurrency trading company, Dadiani Syndicate.
“BitCar is excited about the opportunity to work with Dadiani Syndicate to grow and promote exotic car ownership with cryptocurrency. We see them as avery complementary and exciting new partner for BitCar’s peer-to-peer exotic car trading platform,” said BitCar co-founder Dr Gov Van Ek.
Dadiani made global headlines last month for orchestrating the sale of four rare F1 cars to a Chinese buyer who paid for the vehicles in Litecoin. The purchase was valued at around £4m.
Dadiani Syndicate, founded by Elena Dadiani, facilitates cryptocurrency trades for luxury items, such as fine art, private jets, super yachts and classic cars.
“We recognised after our £4m F1 car cryptocurrency sale that there is an increasing demand for the purchase of exotic cars in cryptocurrencies. However, clearly not everyone can afford an entire exotic car and so we look forward to both partnering with BitCar, and working with their BITCAR tokens to help facilitate the fractional purchase of even more of these breath-taking machines,” said Dadiani.
BitCar, which will present at the London Blockchain Week 2018 conference this week, was co-founded over two years ago by Dr Van Ek, John Bulich and Nuno Martins, who have an impressive track record in Blockchain technology development.
The platform has been in development for over two years. It’s a decentralised platform that facilitates the fractional ownership of exotic cars as a collectible asset.
“With BitCar, the cars are acquired by a third party agent and this agent is also in charge of the maintenance, storage and insurance of the vehicles,” said BitCar Executive Daniel Woodroof.
“High-end cars have lower price fluctuations than regular cryptocurrencies so we see one potential use of BITCAR as a place of stability in times of crypto market volatility,” said Dr Van Ek.