Bitcoin becomes among Karma's payment methods for the luxury car industry

Karma Automotive, the luxury electric car manufacturer, has started accepting Bitcoin BTC as a payment method at one of its stores in Newport Beach.

Karma chief executive Karma Lance Zhou said the California-based company is now allowing customers to pay via Bitcoin to buy new cars and related services, a company press release said Tuesday. , October 15

China's Wanxiang Group bought Karma's assets from Fisker Automotive in 2014 for $ 149.2 million. It began building its flagship Revero in 2016, selling its new model for more than $ 135,000.

Encryption and luxury goods :

Cryptocurrencies have found their way into the luxury goods industry, both in job forms and in payment. In September 2018, Swiss Hublot released the luxury watch brand Big Bang Blockchain that can be purchased exclusively through Bitcoin BTC.

Other sophisticated watches from Franck Muller have coded coin wallets. Frank Muller's encryption wallet watches retail hours from $ 9,800 to $ 50,600.

Blockchain technology in the automotive industry :

Automakers around the world are experimenting with Crypto's core underlying block coding technology. Ford Motor Company is looking at blockchain and geographic sequence to track the number of “green miles” driven by its energy-efficient vehicles. BMW, General Motors, Ford, Renault and Honda have begun testing and driving the vehicle identification system in the United States.

Last September, Indian automaker Tata Motors announced plans to implement blockchain solutions in various aspects of the automotive industry, including the parking market, demand forecasting algorithms and real-time monitoring of fuel quality.