Karma Automotive accepts cryptocurrencies in payment

The sector ofautomotive continues to show great availability in the face of cryptocurrencies and blockchains. This was confirmed again by the recent news that a California-based luxury electric car manufacturer, Karma Automotive, began to accept virtual currencies as payment method in one of his stores in Newport Beach.
It was the same company that announced everything through a press release released on October 15. In particular, Karma Automotive will now allow its customers to pay in Bitcoin to proceed with the purchase of new vehicles and related services.

About Karma Automotive

Karma Automotive is a company that gravitates around the Chinese group Wanxiang, after its purchase occurred in 2014 from Fisker Automotive in exchange for the sum of 149,2 million dollars. Two years later he began construction of Revero, its flagship vehicle, whose latest model is marketed at over 135 thousand dollars. According to the company itself, the car would be able to travel almost 70 kilometers before having to provide a recharge. The decision to expand transactions to virtual currencies was also interpreted by some analysts as aexcellent marketing move, which will allow us to draw attention to Revero.

The words of Lance Zhou

The CEO of Karma Automotive, Lance Zhou in this regard, it stated that the company opened its platform with the specific intention of acting as a test bench and helping the conversion of theoretical blockchain applications into practical uses. With this in mind, Karma's flagship store located in Newport Beach will begin to experience what is increasingly being configured as the emerging technology accepting Bitcoin.
Words that confirm the ever increasing appeal between blockchain and automotive, made visible by a long list of partnerships undertaken by companies in the two sectors, with car manufacturers that are increasingly focusing on innovation in order to provide answers to commercial and logistical problems of no small importance.

General Motors and Spring Labs

To better understand the feeling between the two sectors it is enough to remember the recent agreement between General Motors and Spring Labs, a company born in the 2017 with the precise purpose of giving life to a real revolution in the sensitive traffic sector, using decentralized security features for this purpose.
A setting that prompted one of the automotive giants, General Motors, to finance most of the 32 million obtained in the first round of financing by the fintech company. The reason for the funding lies above all in the fact that Spring Labs is developing a work which could achieve one significant reduction in fraud now customary in financing related to the purchase of cars. An increasingly widespread phenomenon in the States, where over the last ten years such scams have shown an extremely worrying progression, going even to quadruple. A progression that is putting the big car brands to lash out just to encourage customers to buy a vehicle, making arrangements directly with the dealership.