Watch the full live video talk here on Youtube - https://youtu.be/zMF5he7cOcU 
Van Ek shared (transcript):
Classic cars have gone up by 25% in last 3 years, by Frank Knight Index showing substantial returns. For example, the McClaren F1 has gone up from $1 Million to $16 Million over time.
We see classic cars as an Art group. So with BitCar in essence, we aim to open up this Asset Class and allow peer-to-peer trading in the Asset Class.
We’ve been researching the cars for two years and again the difference between this and property, which is an asset that’s always going to be registered…when you deregister this vehicle, it’s a private, personal asset.
Tokenization of Assets is where we will be specialising.
BACKGROUND
BitCar is a cryptocurrency for Exotic Cars. A decentralised Etherem platform. We built the prototype in 2015 and 2016.
Lots of people are interested in owning classic cars but can’t afford it. The cars don’t get driven, we treat them as Art and they are exhibited as Art items.
These cars are the most valuable and appreciating. The focus on Hyper cars initially is because they have the cleanest title, they have the least amount of owners previously and least dispute. They are a clean, well defined Asset Class that is not copy-able.
After 5 years the car will be sold at auction houses, with no chance for manipulation. The owners can vote on when to liquidate the car or keep it for another few years.
We want to take minimal risk in terms of this platform, keep it conservative wherever we can, and work with the Regulators in the best possible way. That’s just the DNA of what we are about.
WHY BITCAR?
It’s a haven in times of cryptocurrency. So we think BitCar will have two functions:
A) Its an area for a large number of people (being car enthusiasts), which has had very little disruption. An audience we have been slowly working with, will be excited. There is a gamification aspect to earn rewards and points in the platform for the younger crowd.
B) With volatility in crypto, we see people parking money in there for short periods of time and we’ll have a floor price on those assets.
Our target is to have $500 Million to $1 Billion in cars in 3 to 5 years.
THE BITCAR TEAM
DNA does matter in the ICO world. John (Bulich), myself and Nuno (Martins) founded the Power Ledger Company and the Team. Along with Sheree (Ip) we have built up the Team with Julia (Buchholz), Rodney (Charles Kilborn), Al (Alasdair Penman) and Dan (Woodroof); our track record is quite strong.
Peter Briggs, has 300 cars and owns his own museum, and has connections all over the world to help us buy cars. With the experience internal to the company, it will help us increase opportunities to accelerate the platform growth quickly.
BITCAR ECONOMY & ICO
Some ICO’s haven’t really thought about the token economy. We’ve designed the BitCar economy based on our experience using Power Ledger to make sure there is organic pressure on the token that can squeeze, so people get a reward over time and hopefully prices rise.
What we mean by that is, when people come on the platform they’re paying in BITCAR and every time users do that, more and more of the token is escrowed. In the first few years, we will be burning a percentage of the transaction fees on the platform and that is like an ‘afterburner’ and once we get to a height, we’ll switch it off over time. That’s the plan.
So we believe BITCAR, the cryptocurrency is well set up to do well and we hope to dominate the market we are specializing in.
It’s a very exciting product and completely different.
We are going to have little boutiques with the cars, the future of museums. They will have a QR code on the cars, so you can literally get your wallet out and trade in interest right there.
GAMIFICATION
There will be a bounty campaign and with gamification, you get certain different levels, trade and develop the community. We intend to hand out a Lamborghini Huracan to the person who builds the community the most over time, as a reward.
Next year, we’re going to open the platform with exotics trading.
Our ICO Presale is opening in December.
Visit BitCar Booth at BlockShow Asia: Resorts World Sentosa — 8 Sentosa Gateway, Singapore 098269 (November 29–30, 2017).
To learn more about BitCar ICO and Token Sale: visit https://bitcar.io/sale
Talk directly to the BitCar Team in Official Telegram Group - https://t.me/bitcar_io
WATCH BLOCKSHOW ASIA LIVE @ https://blockshowasia.com/blockshow-asia-2017-live 