Problem
Nowadays, buying used vehicles is one of the most popular business. Many of us choose a second-hand car for various reasons instead of buying a brand new car from the salon. The market for used vehicles is booming and there are hundreds of thousands of used vehicles sold in the world daily.
However, this market for used vehicles has a lot of issues — and most of them have made their negative effects on all of us, as both dealers or buyers, on multiple occasions.
While primary concern of all the buyers is the reliability of the technical vehicle condition information of the second-hand vehicle, the authorities hardly disclose these types of data to the public, or most of the time these data are unreliable or out of date. This creates an environment of mistrust and uncertainty, that affects all the participants in the market. The buyer only make their decision with faith, therefore, for their own insurance, their usually pay less or canceled the seller’s offer because of the probability that the vehicle may not worth the said price is given by the seller. Analysts have discovered that a great number of vehicles are not sold to consumers who actually need them because of lack of trust on the part of the buyers
As a result, the market is gradually depreciating in value as more faith-related issues are arising on daily basis. It typical for markets with asymmetric information. This is why we need an ambitious project on the blockchain called Vinchain network, which will help the buyers, sellers .. can get up-to-the-minute, detailed histories and status reports on any used vehicle! Anytime and anywhere!
Introduce to Vinchain Project
VinChain is a database platform that records all decentralized blockchain history of changes in a vehicle. For each vehicle, the information accumulates during the entire period of use. This history is transparent and accessible to everyone. By implication, the number of years a particular vehicle is put to use by different users and at different times will be automatically recorded and made public for everyone and anyone to have access to without restrictions and chauvinism.
Using blockchain technology, all data that is read by the user will change and not likely defective. When the vehicle is used, the entire history of the vehicle will be automatically stored in the database of VinChain, then VinChain in the ecosystem can access that information. The ecosystem includes manufacturing, services, where insurance companies, banks, and leasing companies. So all the ecosystems that exist on the Platform of VinChain also have access to important information from the vehicle.
The platform will be beneficial for users, buyer, seller and the market as considerations for determining the value of that vehicle sales. It creates trust on the side of the seller and trust on part of the buyer. It, therefore, implies that the platform is diversifying the system to a win-win thing. With time, the platform will grow to the world’s number one fairly used car hub where a greater percentage of the world’s population will employ the platform in one way or the other vis-à-vis purchase of such products
What makes Vinchain Project Promising
• Provide real information about the vehicle
Note system used by VinChain is very sophisticated. The information about the vehicle is transmitted using the tool embedded in the vehicle system (manufacturers, insurance companies, service stations, banks and leasing companies, dealers, etc.) during the entire period of its use.
The blockchain-passport of the vehicle is connected to the vehicle identification number (VIN) and placed in the VinChain blockchain system without going through intermediaries. While the party melakukam changes to the vehicle necessary to mangaka and gave a statement through an application or web site to the VIN Database. To protect the accuracy of information, the blockchain technology, and data hashing through the SHA-256 cryptographic algorithm. After data entry to the blockchain, then the data will be immune and cannot be edited by anyone.
• Create a win-win for both sellers, buyer..and so on.
The special advantage that belongs to the VinChain market seller was able to obtain data from the buyer so that the items offered will be more targeted. The most effective impact is the seller much easier in doing marketing products or services. The cost of marketing should also be suppressed. Mobile application from VinChain will provide several functions that can be enjoyed by its users, among others is the user can make money, control of the car using the remote, geolocalization, analyzing the style of driving, check the condition of the car, a reminder about the next service even program loyalty.
• Help traffic roads safer
With the information from the VinChain database, then the detail information of the vehicle will be recorded in detail and true. Vehicle owners can connect to their vehicle with the VIN application because of the hardware that is connected to the car whose data is stored. They will know whether their vehicle is ready for driving or not. This will make their driving experience more safer
Operate by Automotive Industry Experts!
VinChain designed and backed by some of the world’s leading experts in all areas of the automotive industry. From marketing professionals to project development heads, VinChain spared no cost to ensure they become the world leader in automotive Blockchain technology. They’re currently holding a worldwide token sale open to any and all investors that want a chance at some high-quality tokens. They’ve also amassed an impressive amount of financial support and backing from some of the biggest names in the business, including ABetterBid, AutoInspect, EpicVIN, CarsDesk, EasyExport, and more!.
VINchain is one of the best top 14 ICOs in 2018 according to the Entrepreneur — Start, run and grow your business. Top 14 Blockchain Companies to Watch in 2018
Token Sale
Getting the VIN (The Platform’s Token) is the first step to authenticating the true workings of a particular vehicle intended to buy or sell via the platform. The platform will also develop a B2B channel including B2C mechanisms to create and enhance valuable communication between buyers and sellers and related business people. The image below shows a prototype of the chat pattern of the platform.
To completely decentralize the system and make the platform accessible to all and sundry, the company is organizing a public ICO to allow the general public take part in this project.
The VIN token will enhance trade of data between data owners and buyers. A total of 1, 000, 000, 000 (1 Billion) VIN tokens have been created of which 600, 000, 000 will be offered for sale. 1 VIN is equivalent to 5 Cents. Accepted currencies of exchange include ETH, BTC, XRP, LTC, WAVES, USD and EURO.
The first stage of the Pre-ICO is holding on the 23rd of November, 2017 for early-birds. Minimum cap goal is set at $5, 000, 000 USD and the maximum cap is postulated to be $34, 500, 000 USD. Pre-ICO proper will start on the 1st of December, 2017 and will end on 24th of December, 2017. ICO or main sale event will start on the 22nd of March, 2018 and ends on 15th April, 2018. Pre-ICO and ICO funds will be distributed as shown in the diagram below.
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Interested readers can take a closer look at the following links:
Whitepaper: https://vinchain.io/files/VinChainWhitePaperEn.pdf
Website : https://vinchain.io/
Telegram : https://t.me/vinchainio
Github : https://github.com/VINChain
Twitter : https://twitter.com/VINChain_io
Facebook : https://www.facebook.com/vinchainio/