First cryptocar seen in Germany
A German car dealership is writing history these days with the sale of the first car against crypto currency in German-speaking countries. A Hyundai i10 can be auctioned currently, whereby the bids are made in YEM.
The car dealership Gerdes in Oldenburg (Oldb.) goes new ways in car trading. Nationwide for the first time a demonstration car is offered exclusively against payment with crypto money. The whole thing works within the framework of an online auction in which bidders from Germany and abroad can participate. Already in the first days the auction was visited a thousand times, and at the time of this article already more than 250 bids were made.
"We are very pleased about the success of this campaign", says Wim de Heer from Autohaus Gerdes, "we had expected some resonance, but this flood of bids surprised us a lot". In fact, the current highest bid is already well above the value of the vehicle. Daniel Settgast, Marketing Director of the American company Shobbit, which operates the auction platform, explains why: "Bids can only be submitted in YEM. YEM is the symbol for the Rainbow Currency, a still mostly unknown crypto currency. The value of the YEM has risen sharply in recent months, so that bidders have paid only a fraction of today's value out of their own pockets. So it happens that the winner of the auction only paid 500 or 1,000 Euros for the YEM at the end, with which he gets a car for 10,000 Euros."
So it is too late for newcomers to get a bargain here, but Wim de Heer has good news: "This first vehicle was only a test. Crypto money and blockchain technology will not only change the automotive industry over the next few years. As a modern car dealership, we recognized the trend early on and are currently developing further products. For example, it will soon be possible to pre-order new vehicles against YEM, whereby the car will then be registered in the blockchain with the help of a Smart Contract. If the YEM then reaches a predetermined value within a period chosen by the customer, the order of the desired car is triggered and the customer can save 50% and more."
Even more money can be saved by participants in a blockchain based Car-Sharing project starting in 2019. "In a few years, for many of us sharing cars will be a common thing. We have recognized the signs of the times and, together with crypto experts, we are developing strategies that will make particular use of our environment friendly electric, hybrid and hydrogen models."
But why was Rainbow Currency chosen as the crypto currency and not Bitcoin or another of the more popular digital currencies? "Other currencies are very volatile, and many do not meet the requirements of the Federal Ministry of Finance for use as a substitute currency for the Euro in payment transactions. The Rainbow Currency has even been used for property purchase contracts here in Germany, so it is the best choice for this project".
question that remains is why hardly anyone knows the Rainbow Currency or the
abbreviation YEM. Settgast also has an answer to this question: "This
currency was developed by an international network that can only be joined by
invitation. This network is called SafeZone and now has more than 3 million
members from all over the world. But if you haven't been invited (yet), you
haven't heard about it. Thanks to our cooperation with Autohaus Gerdes, many
will now be able to enjoy an invitation."
Interested in more? Visit the auction platform: TWNKLBDS
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