KuCoin AMA With Carnomaly — Bridging the Gap Between Blockchain and the Automotive Industry

2021/05/26 12:08:06

Dear KuCoin Users,

Time: May 24, 2021, 13:00-14:12 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the Carnomaly team led by CEO Scott Heninger in the KuCoin Exchange Group.

Project Introduction

Carnomaly offers practical blockchain solutions for buying, selling, and owning a car. They make blockchain technology and cryptocurrency approachable and valuable for every car owner. Whether you need help finding an auto loan or selling your car, Carnomaly offers all the perks of blockchain — accessibility, security, and transparency — in tools anyone can use.

Official Website: https://carnomaly.io

White Paper: https://carnomaly.io/wp-content/uploads/2021/02/Carnomoly_Whitepaper_22621.pdf

Follow Carnomaly on Twitter and Telegram.


Scott Heninger — Founder and Chief Executive Officer at Carnomaly LLC

Scott has spent 18 years in the retail automotive world, working in management roles for global brands such as Honda, Cadillac, Toyota, Nissan, Lexus, and Hyundai. Along the way, he discovered the pain points affecting both dealers and consumers. Using his unique industry insider knowledge, Scott is designing seamless solutions to those pain points through Carnomaly’s cryptocurrency and blockchain applications.

Fernando Rodriguez — Chief Financial Officer at Carnomaly LLC

For the past 15 years, Fernando has been a Chief Financial Officer in the automotive industry, overseeing large-scale dealership operations that included dealership buy/sell analyses, dealership property acquisition, cash flow management, forecasting, development of internal controls, and expense reduction. With experience in executive management, Fernando has organized and led department manager meetings, implemented daily accounts receivables meetings, and managed the financing and purchase of multiple dealerships. Through expense analysis, he has saved dealerships hundreds of thousands of dollars to boost profits.

Josh Taylor — Chief Operating Officer at Carnomaly LLC

Josh’s first business was at age 18. With a passion for entrepreneurism, Josh is no stranger to start-ups having founded several businesses of his own, including San Antonio’s first raw juice bar in 2011 and an apartment locating brokerage in 2016. Josh’s proven business and management experience has allowed him to build high-performing businesses that set the pace for their industry. With an impressive ability for assessing company needs, planning for the future with actionable goals, and providing critical and ongoing direction towards organizational growth, Josh brings his vision, innovation, and energy to develop strong teams that drive measurable results.

Q&A from KuCoin

Fernando: We are honored and excited to be here. My name is Fernando Rodriguez and I’m the CFO for Carnomaly!

Josh: Hello KuCoin community! Thank you for joining us for today's AMA. My name is Josh Taylor and I am the COO of Carnomaly. I am in charge of the day-to-day operations of the business and make sure that everything runs smoothly.

Scott: Hello everyone, this is Scott Heninger and I'm the CEO and Founder of Carnomaly.

Q: What is Carnomaly?

Josh: Carnomaly is the world's leading automotive crypto company and the future of the automotive industry. Our fleet of tech solutions will bring digital innovation to the automotive industry through the power of blockchain and crypto technology. Through our innovation, we will change the way consumers buy, sell, shop, report, and finance new and used vehicles.

Scott: Our goal is to bridge the gap between the automotive marketplace and the blockchain digital world.

Q: Does Carnomaly have any partnerships?

Josh: Currently, Carnomaly has government and non-government partnerships. Carnomaly has partnered with The National Motor Vehicle Title Information System, a government entity designed to protect consumers from fraud and unsafe vehicles and to keep stolen vehicles from being resold. We have also partnered with Ardent Creative and Oven Bits to develop our mobile applications and online solutions.



Q: What is CarrDefi?

Fernando: CarrDefi securely connects with borrowers or lenders through blockchain payment history. CarrDefi will give borrowers the flexibility to choose anonymous or credit-based conventional and residual-based loans, all reported to the CarrDefi payment blockchain.

Q: What is CarrChain?

Scott: With CarrChain you will earn vehicle reputation points to increase the value of your car. CarrChain will give vehicle owners the ability to interact with their vehicle’s history report, while earning points towards their vehicle’s unique reputation score. You will also be able to claim your vehicles CARR VIN NFT.

Q: What makes the CARR token unique?

Scott: The CARR Token powers the Carnomaly Ecosystem: Carnomaly, CarrChain and CarrDefi. Modeled after other popular wholesale membership rewards programs, Carnomaly memberships will have 3 levels. These membership levels will gain you access and tiered rewards across the Carnomaly Ecosystem.

Q: How do I become a Carnomaly partner?

Josh: If you have interest in becoming a Carnomaly partner, you can email us at [email protected]

Free-Ask from KuCoin Community

Q: How will the demand for $CARR increase in the future? What steps would you take to increase the demand? May I know how you plan to attract more business partnerships to your project?

Josh: We have added multiple utility functions to the token to increase the demand and use case for it. Firstly, users will have to use the token to pay for memberships on the site. We will be adding the ability of consumers to purchase new or used vehicles on our Carnomaly.com platform as well, and lastly you will be able to use the CARR token to fund vehicle loans within CarrDeFi.

Fernando: A combination of solutions like CARR rewards portal, CarrChain, and CarrDefi along with the partnerships we have with marketing and public relations will increase demand for our token. Our more than 40 years of automotive experience is what we are using to develop and attract more partnerships.

Q: Can I buy a car using your CARR token? If yes, will I get any special discount for purchasing with a CARR token? Also, which stores will be available to accept my CARR token?

Scott: Yes, one of the utility functions of the tokens is to allow token holders the ability to purchase vehicles using the token. Once we have all of our solutions launched, we will start signing up dealers around the world. Also, you will earn a reward for purchasing a vehicle and being a CARR member.

Q: What is $CARR? How do you position yourself in the market and what are your competitive advantages?

Scott: Carnomaly will be the first digital vehicle marketplace powered by blockchain technology, revolutionizing how dealers and consumers buy, sell, and own vehicles. The CARR Token powers the Carnomaly Ecosystem: Carnomaly, CarrChain and CarrDefi. We will grow the platform through advertising and by providing much needed solutions to the industry.

Q: What major partnerships does $CARR intend to use or how does $CARR bring its products to the average consumer - especially non-crypto users?

Josh: We have partnered with the National Motor Vehicle Title Information System in the United States. They keep track of stolen vehicles as well as damaged vehicles from floods, accidents, etc. We have a car manufacturer we are in talks with about a partnership and are working with many dealers around the country.

Scott: We already have several dealers and a government partnership. Our goal is to partner with all dealers in all manufacturers.

Q: What is the uniqueness of CARR that cannot be found in other projects that's been released so far? And how will the demand for CARR increase in the future? Or what steps would you take to increase the demand?

Fernando: The ecosystem that we are developing certainly makes CARR unique. Our platform will allow users to shop for vehicles through Carnomaly, connect investors with borrowers through CarrDefi, and finally allow car owners to have an interactive experience with their vehicle’s history through CarrChain which will be powered by blockchain technology.

Q: How can I invest in your project? Is it safe to invest?

Scott: The token is listed on KuCoin and several other exchanges. Lenders combine their crypto assets in loan pools created by our financial experts. Borrowers put up digital collateral (Bitcoin, Ethereum, CARR, etc.) to guarantee their loan. Using smart contracts, we distribute loans to borrowers. Each loan is secure in the blockchain thanks to a public history that can be checked and verified by every user.

Fernando: You can purchase tokens on KuCoin and become a member by visiting our site: Carnomaly.io. Our reward portal will be up and running very soon. You will not want to miss out on that.

Q: What are your plans for influencers? What methods do you use to get people to know about $CARR?

Fernando: We have partnered with one of the largest Public Relations firms in the United States. They have done work with multiple crypto projects and one of the largest auto manufacturers.

Q: How do you plan to spread awareness about your project in different countries where English is not spoken well? Do you have local communities for them to let them better understand your project?

Josh: We will be implementing a grassroots marketing strategy from the ground up. We will host and participate in automotive and crypto conferences around the world to gain awareness. We have a Top 20 USA Public Relations firm out of New York working with us to spread the word as well.

Q: Will your project be available to everyone?

Scott: Yes, it is our goal to have worldwide mass adoption.

Q: How CarrDefi and CarrChain differ?

Scott: The company has created a system that combines the age-old automotive lending industry with the modern world of cryptocurrency exchanges. Our decentralized finance system, CarrDefi, connects real-time lenders to real-time borrowers. Users can securely connect with borrowers and lenders through funding pools created by our team of financial experts.

Q: NFT is getting more popular nowadays. It looks like NFT has a bright future. So do you guys have any plan to include NFT to your project?

Fernando: Yes, we have already developed an NFT component for our project. Using CarrChain, users will be able to own their NFT for their VIN specific vehicle.

Q: With the way the crypto market is failing, I think the only solution right now is that the crypto market must be designed in such a way that will eliminate high volatility. How would your project address this situation? What are your visions for your coin/project?

Josh: We have a stable lending infrastructure set up through CarrDeFi. Users will be able to lend their crypto (BTC, ETH, USDT, CARR) into funding pools that borrowers can apply for and gain access to. This will guarantee earned interest up to 18% APR on auto loans backed by the physical asset, being the vehicle. These funding pools will be loaned out to many different borrowers, decreasing the risk of lending. Think of a mortgage backed security. We are creating a Vehicle Backed Utility program that anyone with crypto around the world can participate in.

Q: Can we use the reputation points to buy car parts/stickers or etc? Are these 3 levels you talked about gonna be free?

Josh: Your vehicle reputation score will be a factor that helps dealers and consumers know the quality of the vehicle. Similar to your personal credit score. Right now consumers have no way of interacting with their car's history report. You own it, but you don't control it. Carnomaly is giving that power back to the consumer allowing you to effectuate the actual resale value of your vehicle.

Q: What do you do to make Carnomaly revenue? Tell me what strategy/model is it? How profitable? Kindly explain more about your token main utilities.

Scott: Carnomaly is not only a blockchain and crypto project, we have traditional business models as well. We will produce revenue from dealership partnerships and being a data aggregate.

Q: What are the great achievements that your project has achieved so far? What difficulties and risks did you encounter during project implementation and what factors helped motivate you to overcome difficulties?

Josh: We have developed our proprietary CarrChain blockchain where consumers' vehicle maintenance and purchase history will be recorded. We have partnered with a US governmental agency. We have a patent pending for our digital technology pertaining to vehicle's history data being stored on the blockchain and several other items including NFT creation. We have filed with the SEC in the US and have partnered with several agencies in the US for development. We are soon to launch our first solution allowing consumers to earn rewards on vehicle maintenance and purchases.

Q: Is there anything else you would like to share or you want us to know?

Josh: We will be releasing our first solution in short order. Development is underway and things are looking very good.

Fernando: I would like to thank the community for their time and support. Please join us on Telegram to keep up with the latest developments: https://t.me/Carnomaly

Giveaway Section

KuCoin and Carnomaly have prepared a total of 35,000 CARR to give away to AMA participants.

1. Red envelope giveaways: 11,600 CARR

2. AMA activity: 22,500 CARR

Activity 1 — Quiz: 15,000 CARR

Activity 2 — Price Guess: 7,500 CARR

3. Free-ask section: 900 CARR

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