TEND, a cryptocurrency trading platform that allows you to buy rights to the collective ownership of luxury goods for Ethereum, has agreed with the distributor of Porsche cars in Switzerland to tokenize a Porshe model 365A from 1956 to sell its rental service for cryptocurrency on its platform.
The cost of an elite car will be divided into five parts-tokens, which can be purchased on the TEND automated trading platform.
Marco Abele believes that through collective ownership, the younger generation will have access to the luxury goods they crave. Porsche Zentrum Zug will be responsible for ensuring that customers move from paying for the rental to actually using the car without unnecessary delays. Financial relations between tenants and the company will be regulated by smart contracts based on blockchain technology.
Subscribe to our news in Telegram
According to coindesk
You May Also Like
Financial insurance leader Lloyd's of London quietly entered the cryptocurrency market
It has become known that Kingdom Trust, which holds more than 30 types of cryptocurrencies and tokens for investors, has obtained insurance coverage through Lloyd's of London to protect these assets from theft and destruction. Kingdom Trust is known to be a certified custodian, which means it holds private keys for those types of cryptocurrencies that are considered acceptable by regulated financial institutions.
The director of Mt.Gox does not admit his guilt
In his closing argument in a Tokyo court, Mark Karpeles, the former CEO of collapsed cryptocurrency exchange Mt.Gox, declared his innocence and non-involvement in the events that caused the firm to lose millions of dollars from its users and ultimately go bankrupt.
