Introduction
Many blockchain projects that have been coming up have always been tied to software rather than hardware. Many times, the coins have no projects behind them or use for them but people still rush and sometimes oversubscribe to them. It seems very rare to find blockchain projects tied to physical projects. Well, that used to be the case until I got to know about Bitrace.
BITRACE
The Formula 1 is one tournament I personally enjoy watching. Whether it's the adrenaline rush or the branding and packaging, there's always something appealing to me and I'll hate to see this sport die. Not too long ago, the news broke of Silverstone planning to pull out of hosting the British Grand Prix due to the rising cost of hosting the tournament yearly. This cost is said to rise by about 5% every year.
Asides the rising cost of hosting, organizers have limited options when it comes to earning direct revenue. The organizers earn only from ticket sales while the other earnings go to the Formula 1 (F1) company. Currently, cost of hosting a Grand Prix is most expensive in Malaysia ($67 million) and cheapest in Monaco (Free).
Tunisia Racing F1 City
To solve the issue of limited revenue sources for organizers, Bitrace intends to build an integrated sports compound on 300 Hectares of land that will house a Formula 1 (F1) Track surrounded by top-class hotels and recreational units. The top-class hotels and recreational units should provide extra sources of revenue for the organizers.
It is believed that the availability of a race track in a particular location tends to give the economy a boost. The choice location for this particular project will be Tunisia.
By introducing blockchain technology and cryptocurrency to F1, Bitrace will attempt to change the way funds are raised for projects and provide access to seamless transactions and services. Majority of the funds raised during the token sale will be used to develop the F1 Racing City in Tunisia.
Benefits To Token Holders
Bitrace Token is intended to be used and accepted in all businesses affiliated with the parent company. Some of the benefits to token holders include:
- Start Trading in CFDs BDSwiss Platform using BITRACE (May 2018).
- Rent cars in certain Mediterranean countries using BITRACE (July 2018).
- Purchase flight tickets from our tour operators for certain destination using BITRACE (July 2018).
- Purchase Holiday Packages using BITRACE (July 2018).
- Purchase Timeshare for our Holiday resorts using BITRACE (October 2018).
- Purchase services worldwide at LaBelle & LeBeau Beauty Salons using BITRACE (June 2019).
- Purchase products and services within Tunisia Racing F1 City using BITRACE (January 2021).
- Receive return on investment out of the holding activities, as 20% of the net profit will be distributed among the BITRACE token holders (January 2022).
Token and ICO Details
BRF is built as an ERC20 token on the Ethereum blockchain with a total supply of 1,000,000,000 BRF
The ICO is scheduled to be on for a month, starting on the 25th of March 2018 and will run until the 25th of April 2018. 1 BRF will initially be sold for $0.1 with the price becoming $0.12 from the 5th of April to the 15th of April. The price of 1 BRF would then be set at $0.15 for the remainder of the ICO period after the 15th of April.
The minimum purchase during the token sale is 100 BRF Tokens and they can be purchased using BTC, ETH, and BCH. Tokens will automatically be issued to you once your transaction is successful.
Roadmap
Below is an image of the roadmap which shows Bitrace's plan to revolutionalize the way F1 hosts / organizers operate.
References
Website - https://www.bitrace-token.com/
Whitepaper - https://www.bitrace-token.com/whitepaper
YouTube - https://youtube.com/channel/UCqgNbIa08OynIxTN5Mym6jg
Twitter - https://twitter.com/BitraceToken
Facebook - https://facebook.com/bitrace.token/
Telegram - http://t.me/bitrace
Medium - https://medium.com/@bitrace
Authored by 23xfi
Bitcointalk - https://bitcointalk.org/index.php?action=profile;u=1347685
ETH - 0x00889349Ca058116E6430Faf92FDa4fD7EC4f51e