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How Contactless Online Vehicle Marketplaces can be the New Normal for the Automobile Industry Post COVID-19

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Amidst the widespread panic created by the novel COVID-19 pandemic, when people across the globe are getting laid off, economies are crumbling, and self-quarantines are being enforced by governments all over the world, one might feel it is futile to even think about starting a business! What if your idea might be one of those billion-dollar ideas with huge potential during post-pandemic times?

As per a recent survey conducted by Statista for a group of 3465 consumers, it has been revealed that 20% of them expect an increase in their expenditures on cars and automobiles in the next six months. With carpooling and other vehicle ferrying and cab services going through a downward trend owing to the onslaught of the pandemic, it is little surprise that a good 67% of the consumers anticipated their expenditure to be the same as before. Well, no doubt the global auto industry might not have a good sale of newly manufactured automobiles but there will possibly be a better chance for a rise in the sales of used vehicles in the coming days.

Sale of newly manufactured vehicles may go down

It has been estimated that the impact of the COVID-19 pandemic can result in a loss of 195 million jobs globally. People susceptible to such a downturn and who have already faced the brunt of layoffs would never think of getting themselves locked in indefinite car loans at high-interest rates. Not to mention that even big companies like Tesla have supported the closure of their auto plants in this time of crisis and most of the population around the globe may take a lot of time to recover from the economic fallout caused by the virus.

Should users turn to used cars?

That being said, there is a possibility that people turn to buy and sell used vehicles – for getting rid of old vehicles and get some money on hand or stay safe from the asymptomatic coronavirus cases. According to recent news, China has experienced a surge in the number of such cases despite following drastic lockdown strategies. So, utilization of public transport, trains, and flights will definitely be out of the question for some time.

Nobody wants to be in a situation where they can be potential carriers of the virus and pass it to others. More and more people will prefer to have a personal vehicle that can be bought for a reasonable price without stepping out of their homes and have a seamless contactless buying/selling experience, thereby precluding the need to visit the showroom.

There are enough reasons for users to go for a used vehicle rather than buying a new vehicle now. One of the topmost reasons will be the price. Being a cheaper option, along with the added advantage of lower prices leading to more affordable loans, there are fewer chances of living beyond the means.

Is it a good time to develop an online vehicle marketplace?

Be it during this crisis or in the near future, buying and selling of used vehicles will increase at an exponential rate. It will be an icing on the cake for all startup enthusiasts who want to start a new business or existing businessmen who wish to take their business online.

An online vehicle marketplace will not only allow sellers who want to take the sales of their vehicles through the roof but also give buyers what they need. Buyers will be able to buy vehicles at reasonable prices from any place in the world at any time. By making business easier than ever with the latest technologies, such an e-marketplace solution can free entrepreneurs from the constant need to come up with innovative ideas every now and then.

Last but not least, health is wealth. So, buying and selling of used vehicles must follow the necessary procedures to keep clean the vehicles and disinfect them properly before handing it over to the customers, otherwise, the entire purpose of the business is lost.

Wrapping up…

The COVID-19 has had a catastrophic effect on the global economy and there seems to be no certainty on when it will be over. However, strong businesses are those which are capable of keeping the ball rolling. Businesses that adapt quickly to changing scenarios are the ones that can survive such unprecedented times. Building an online marketplace for used vehicles will also open a lot of opportunities for the supply chain industry who need armies of delivery agents to reach the customers. So, what are you waiting for? This might be a golden opportunity for transforming your dreams into a reality. If you are interested in this niche, get in touch with our experts who can guide you through and pave the way to build your own online multi-vendor vehicle marketplace solution.

The post How Contactless Online Vehicle Marketplaces can be the New Normal for the Automobile Industry Post COVID-19 appeared first on ixBlog.

Source: http://blog.ionixxtech.com/how-contactless-online-vehicle-marketplaces-can-be-the-new-normal-for-the-automobile-industry-post-covid-19/

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CFTC charges crypto futures trader for failure to register in the US

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On Monday, the Commodity Futures Trading Commission filed charges against Laino Group for soliciting U.S. investors to trade in futures on commodities including Ether, Litecoin and Bitcoin without registering with the commission.

Per the CFTC’s complaint the St. Vincent-registered Laino Group, doing business as PaxForex, used a network of U.S.-based affiliates to solicit American retail investors. In doing so, Laino Group violated the Commodity Exchange Act.

The CFTC did not specify the extent of Laino Group’s activities. The commission’s request for relief indeed suggest that they themselves don’t know how much the trading platform took in without registering. In addition to calling for full return of all funds accumulated, the CFTC’s complaint asks for:

An order directing that Defendant, and any successor thereof, make an accounting to the Court of all of its assets and liabilities, together with all funds it received from and paid to customers.

Particularly noteworthy here is the jurisdictional boundary being established. The CFTC has consistently called Bitcoin a commodity in recent years. The appearance of Ether and Litecoin in a list with Bitcoin as well as traditional commodities like gold and silver within an action from the CFTC suggests that the Commission is treating these others as commodities as well, which CFTC Chairman Heath Tarbert suggested last year. 

The question of which cryptocurrencies should be under CFTC jurisdiction came up in a pair of bills introduced to the House of Representatives last week.

Source: https://cointelegraph.com/news/cftc-charges-crypto-futures-trader-for-failure-to-register-in-the-us

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Swipe’s SXP Token Jumps Over 25% Ahead of Swipe Governance Mainnet Deployment

The price of Swipe’s SXP token has jumped well over 25%, from $1.29 to $1.65 at press time, after Swipe Governance’s (SG) smart contracts were successfully audited by CertiK and SG’s mainnet deployment started being prepared. According to an announcement posted on Twitter, Swipe Governance’s smart contracts were successfully audited by CertiK, and Swipe Governance’s […]

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The price of Swipe’s SXP token has jumped well over 25%, from $1.29 to $1.65 at press time, after Swipe Governance’s (SG) smart contracts were successfully audited by CertiK and SG’s mainnet deployment started being prepared.

According to an announcement posted on Twitter, Swipe Governance’s smart contracts were successfully audited by CertiK, and Swipe Governance’s mainnet is now scheduled to be deployed on Friday, October 2.

The tweet points out that the Swipe Governance protocol will allow SXP token holders to vote and control various paraments of the cryptocurrency’s development via the Swipe network.

Responding to the announcement some users touted their faith was restored in the project and they are now “super bullish” on it. Notably, others pointed out that the news appeared to have been leaked somewhere, as before the official announcement the price of the SXP token started surging.

The code behind the Swipe Token itself had notably already been audited by CertiK. In an announcement published last year, Swipe pointed out the audit was meant to ensure the SXP token would be “secure against some of the most critical vulnerabilities.”

The token, the team wrote, is the “center piece of network fuel and access to receiving the services provided by Swipe.” The announcement details CertiK conducts audits using Formal Verification, which goes beyond checking for bugs and vulnerabilities and “leverages rigorous mathematical theorems to check whether the source code of a program meets its specification.”

The Swipe Governance audit announcement saw SXP’s price jump to over $1.8 before the token’s price started correcting. The token hit an all-time high of $4.3 back in August, one month after leading cryptocurrency exchange Binance acquired Swipe for an undisclosed sum.

Source: CryptoCompare

Binance acquired Swipe and listed the SXP token back then. The cryptocurrency exchange’s acquisition of the firm appears to be related to its Binance Visa Card, a cryptocurrency debit card that lets users pay with crypto anywhere Visa is accepted.

The Binance Visa Card uses Swipe’s technology and rolled out to users in the European Economic Area earlier this month.

Featured image via Pixabay.

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Bitcoin Closes Above $10,000 for a Record 63 Days Straight

Bitcoin (BTC) continues to break new ground. According to data aggregated by Messari, on Sunday, 27 Sept., it broke another record — closing at $10,793, thus making it 63 consecutive daily closes above the $10,000 handle. The current streak eclipses the previous record of 62 days, which lasted from Dec 1, 2017 – Jan 31, […]

The post Bitcoin Closes Above $10,000 for a Record 63 Days Straight appeared first on BeInCrypto.

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Bitcoin (BTC) continues to break new ground. According to data aggregated by Messari, on Sunday, 27 Sept., it broke another record — closing at $10,793, thus making it 63 consecutive daily closes above the $10,000 handle.

The current streak eclipses the previous record of 62 days, which lasted from Dec 1, 2017 – Jan 31, 2018, a period during which bitcoin reached its all-time high of just above $19,900.

Bitcoin’s latest extended consolidation above the five-digit mark, however, is proving different than previous runs. This time around, there is less hype, and in terms of price, things are relatively quiet, mostly fluctuating between $10,000 and $12,500.

In fact, the 180-day return volatility for the world’s premier cryptocurrency has dropped nearly 50% in September, per Coin Metrics.

During the last three months, any dips under 10k were aggressively bought. And according to The Crypto Lark, this is evidence of “halving effects starting to be felt.” In reaction to the news, the co-founder of Morgan Creek Digital and well-known podcaster Anthony Pompliano, for his part, tweeted:

Striking a slightly different tone, Matt Kaye, the managing partner of Blockhead Capital, commented,

we are essentially at $11k with no euphoria. No derivative long build-up. High stablecoin balances. Shorts are still unwinding. The sentiment is cautious at best (justifiably so with macro backdrop). Appreciate the rarity of this moment.

The broken record occurred around the same time it came to light that investment firm Grayscale was again adding to its Bitcoin Trust. At current prices, the additional investments are said to be about 17,100 BTC, worth approximately $186 million.

Meanwhile, bitcoin’s price is approaching a crucial resistance area, a breakout above which could confirm that the trend is bullish. For more in-depth Bitcoin analysis, click here.

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Source: https://beincrypto.com/bitcoin-closes-above-10000-for-a-record-63-days-straight/

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