Hello BitCar enthusiasts.

Today we present you with some of the technical challenges that we and many other blockchain projects currently face. We are looking for your innovative and clever ideas!

With this new series of blog posts, we hope not only to engage in the process of becoming more transparent about what we are doing but also to get some positive feedback from the community. Hopefully, we can then learn about, and share some clever ideas on how to solve some of these common Blockchain / Ethereum decentralized technical challenges.

Problem:

As some of you may be aware, the Car Token (tokens representing a particular Platform Car) will have a fixed supply and will be pegged to a fiat currency on a 1:1 ratio, i.e. say a Ferrari worth USD 1 million comes onto the BitCar platform, then it will get 1,000,000 of its own Car Tokens, unique to that car. This means that when these Car Tokens are bought, using some of the post 31 July 2018 token burn’s 111,485,497 circulating supply of BitCar tokens (these are different from the Car Tokens), a conversion needs to happen in order to calculate the right number of BitCar tokens per Car Token. The problem is how to cheaply and quickly get external BitCar token price data onto the Ethereum blockchain. Ideally, a solution would be available that is not only cost effective but also truly decentralized. Currently, we don’t see a strong one, do you?

Solutions:
Read full blog post here: https://medium.com/@bitcar/bitcar-developers-are-seeking-community-feedback-bitcartec-4fd80a64d8e0