Introduction:
Today I am going to introduce a new project to you. There are some projects that have similarities with this project but building on blockchain technology makes this project very different from others.I would like to explain briefly this project but more information can be found on website (vinchain.io).
All the data of vehicles are saved in VinChain as a blockchain database. For each vehicle, the data is collected during the entire use period. Everyone can open and access it easily. For protecting the authenticity of the data, distributed storage technology is used. Thus, reliability and security of information will be ensured.
The aim of Vinchain project is to avoid the complexity of the used car market by creating a non-decentralized, transparent, and reliable vehicle life cycle storage. It is the world’s first non-centralized international automotive information market. The team of Vinchain is trying to provide the full transparency of a vehicle’s past report.
Every day lots of people buy secondhand cars around the world and each customer wants to have reliable and right information about the technical conditions of the vehicle. They want to guarantee themselves in terms of financial and security issues. Unfortunately, there is not a single database that people can reach. There are a lot of different commercial database which has different information. So,They can give wrong information because this data is stored centrally. Furthermore, Commercial companies’ databases are closed and these companies don’t change the data between them. As a result, the buyer of the car have to provide their own safety and they have the risk of losing money. It is a big problem for customers who want to buy an used car.
How does it work?
The platform will publish a blockchain passport for each vehicle in a centralized registry. Ever user and service provider who have access to the system can use the vehicle’s passport placed in the VinChain blockchain system and connected to the vin code. Another plan of the VinChain project is to attract global consulting firms to the system audit and by this way it will give detailed feedback and information on the vinchain service providing truly reliable data.
Vinchain will change secondhand cars world market by making it correct,transparent, reliable for buyers. By doing this, it will relax them while they are buying a used car by using quite reliable database.
What is the aims of this project?
One of the aim of this project is to create a block with different access and information protection levels. The information security level must correspond to the needs of government agencies. Its another goal is to integrate participants in the automotive industry such as producers, insurance companies, sellers, service stations, developers of navigation systems, into a single ecosystem for data exchange. It also aims to create an organization for a market participant and provide direct access to the database.
What is the advantages of using blockchain technology?
Blockchain technology is very assertive in terms of absolute reliability. It can store data related to car care. Also, there is a chance to regulate the access levels for different users. It has a transparent reward system for data providers. Furthermore, it has an opportunity to work directly with each market participant. Lastly, it protects you from network attacks. Of course, these are some of them.
Road map
February 2017 — Concept development October 2017 — Concept verification November 23, 2017 — Pre-ico token 1 December 2017 — Pre-ico VINChain token December 24, 2017 — VinChain Token pre-sale sales end
March 2018 — MVP Test
March 22, 2018 — VINChain ICO
April 16, 2018 — The beginning of token distribution
April 20, 2018 — Add-on for finalizing and faster processing of product Quarter 4 of 2018 — Final product for users
ICO Details:
Pre-sale: 1 December-24 December. 12,500,000 tokens will become available for placement with the sale prohibition during 3 months after ICO is over.
ICO: will be held from March 22 to April 15, 2018.
Available payment methods for VinChain tokens:,
● Bitcoin (BTC)
● Ethereal (ETH)
● Riple (XRP)
● Litecoin (LTC)
● Wave (WAVE)
● USD , EUR, GBP
Available for placement: 600.000.000 token.
Token will be distributed among buyers within 72 hours after the completion of ICO.
Maximum investment amount: $ 34,500,000.
To be frank, I think this project will be very successful If they create a strong system and the revenues are satisfactory, it will be possible to reach a wide user population. The idea sounds very exciting and i am looking forward to joining this project.
For more information check these links below:
Web site: https://vinchain.io/en
Whitepaper: https://vinchain.io/files/VinChain_io_White%20Paper.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2349186.0.all
Youtube Vinchain official video:
Facebook: https://facebook.com/vinchainio/
Twitter: https://mobile.twitter.com/VinChain_io
Telegram: https://t.me/vinchainio
Bitcointalk profile (tarangogu): https://bitcointalk.org/index.php?action=profile;u=1184703
