VINCHAIN – Blockchain database that records all information

VinChain is a blockchain database that records all information related to the vehicle. For each vehicle, information accumulates during the entire period of use. This history is transparent and easily accessible to everyone. To protect the accuracy of information, distributed storage technology is used. It ensures absolute reliability and data security.

Every day hundreds of thousands of used cars are sold in the world, and every buyer wants to get reliable information about the technical condition of the car. This is an important security, financial, and security issue.

Unfortunately there is no single car database. There is a commercial base, but it does not solve this problem. Their information is stored centrally and there is an incorrect risk. The commercial base is closed and does not exchange information among themselves. As a result, car buyers risk resigning and losing money.

VINCHAIN OBJECTIVES

*Create blocks with different levels of access and information protection.

*The level of data security should be in accordance with the needs of government agencies.

*Unite participants in the automotive industry, such as manufacturers, insurance companies, dealers, workshops, navigation system developers, into a single ecosystem for the purposes of data exchange.

*Create infrastructure and provide direct access to the database for every market participant.

HOW TO WORK VINCHAIN

Since only the seller is aware of the true condition of the rescue car, it is not easy for the buyer to predict whether the car is really in good or bad condition.

VinChain is the world’s leading decentralized automotive data market. The VinChain team is working to ensure full transparency about the history of a vehicle.

VINCHAIN SYSTEM OPERATIONS

When we receive a blockchain request, we search the data throughout the chain and we create and transmit the information in a structured form. The fee for the information is received by the member of the register whose information has been used. Both sellers and second-hand buyers will benefit from removing asymmetric information from the used car market.

When the buyer knows all the information that exists about a particular vehicle, this will create confidence in the process and prepare to pay more. For sellers, publishing the entire vehicle history increases the value of the car at the time of sale. If the buyer knows the vehicle’s operating history in full, he has the assurance that the vehicle is maintaining a certain level of value. The same can not be said about vehicles without reports.

DIFFERENCE VINCHAIN AND OTHER TECHNOLOGY

TOKEN SALE

We have set a reasonable minimum purchase of $ 1, but there is no upper limit. Currencies received are USD, BTC, ETH, XRP, LTC, WAVES, and EURO.
Pre Sales
December 1, 2017 14:00 UTC – December 24, 2017 14:00 UTC
Sales
22 March 2018 14:00 UTC – 15 April 2018 14:00 UTC
Role Token Enable data trading between data owner and buyer
VIN symbol
Provide 1’000’000’000 VIN
Sold 600’000’000
VIS Emission Level No new token will be created
Price 1 VIN = 5 cents
Currency received ETH, BTC, XRP, LTC, WAVES, USD, EURO
Sales Period 22 th March 2018 14:00 UTC to 15 April 2018 14:00 UTC
Token Distribution April 17, April 29, 2018
The minimum goal is $ 5,000,000
The maximum goal is $ 34.5 million