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Carnomaly to Bridge the Gap Between the Automotive Marketplace and the DeFi World By DailyCoin


Carnomaly to Bridge the Gap Between the Automotive Marketplace and the DeFi World

Amidst mainstream adoption, it is almost impossible to build a blockchain project without including a decentralized finance (DeFi) component. The reason for this can be attributed to various factors, one of which is the fact that most blockchain initiatives are community-driven.

As a result, most blockchain initiatives require the implementation of a native token which, in the possession of a community member, guarantees voting rights. In other words, community members who own a share of a project’s native tokens can participate in the decision-making process, as well as enjoy unlimited access to a suite of DeFi tools.

The same can also be said in the case of Carnomaly, a blockchain-based protocol that facilitates the sales and management of vehicles in the most secure, decentralized, and transparent way possible. If you would like to learn more about the

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Carnomaly is Bringing Transparency to the Automotive Industry By DailyCoin


Carnomaly is Bringing Transparency to the Automotive Industry

Over the years, car sales and management (e.g, tracking a car’s history) have been challenging, and using centralized protocols has made it practically impossible to achieve efficient management and tracking systems for such a purpose. Notable reasons for this include trust issues, limited access to information from a global network of users, and lack of transparency, among several others.

For instance, it is quite difficult to access a detailed history of a car before making a purchase. As a result, automobile dealers are mostly in control of the situation, and can easily control the market’s value so that it favours only them.

On the other hand, a consumer or buyer who is unaware of a vehicle’s full history cannot make a well-informed decision about a potential purchase.

Now, after many years of no meaningful endeavour to resolve these major challenges, Carnomaly, a

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