The popularity of blockchain technology has no wonder reaches many trades. It has a proven ability to solve issues that have been burdening every industry, especially the automobile market. Among the problems that make vehicle purchase and other services a concern are the following:
- Undervalued trades
- High-interest rates
- Overpaying for vehicles
- A confusing buying process
- Inaccurate vehicle history reporting
With the innovative approach of Carnomaly, it employs a series of robust technology solutions. Carnomaly intends to begin a digital shift in the automotive industry through the power of blockchain technology. Several experts consider that changes such as CarrDefi and CarrChain will have a long-lasting influence on the process of people buying, selling, reporting, and finance new or used vehicles.
Carnomaly Tech Of Solutions
Buying Cars With Cryptocurrency
Purchasing automobiles utilizing cryptocurrency has become simpler with the development of Carnomaly.com. This blockchain-powered online automotive marketplace enables users to buy cars utilizing Bitcoin, Ethereum, and Litecoin. Vehicles can also be bought applying the CARR token, which is Carnomaly’s Ethereum-based ERC-20 token that affiliates can buy through various popular cryptocurrency exchanges. The car buying process at Carnomaly involves:
- Finding a vehicle.
- Paying with cryptocurrency.
- Confirming the payment with a dealer.
- Arranging shipment from anywhere in the world.
Prospective buyers can survey cars by technique and pick from their favorite trucks, coupes, sedans, SUVs, hatchbacks, and convertibles. It is likely to buy cars used as well as new on the platform.
Digital Profile For Vehicles
CarrChain is a digital profile for vehicles that are secured by blockchain technology. It formulates a “Digital Vehicle Identification Number” for every car in the system. Each part resides securely stored within the blockchain, secure from tampering or modification. History reports from CarrChain are accurate, comprehensive, and transparent, which suggests a more favorable vehicle price for sellers.
Decentralized Finance System
Carnomaly has also built the crypto-powered solution, CarrDefi, to overcome the restrictions of an outdated and inflexible auto lending process. This decentralized blockchain system eliminates the role of banks in securing loans and assets. Instead, CarrDefi connects borrowers and lenders to a guaranteed loan pool on a blockchain with a valid public history. As a result, Carnomaly members have full authority over their financial assets and can efficiently carry out peer-to-peer transactions.
The Continued Initial Exchange Offering (IEO)
With Carnomaly ever-expanding and becoming popular, they have continued their Initial Exchange Offering (IEO) and are now on its round 4 on several exchanges. Among the exchanges are as below:
Coming soon on:
- Qubit Exchange
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