Vinchain (VIN)

Vinchain (VIN) is a decentralized international automotive data marketplace to provide complete transparency of a vehicle’s history.

VinChain solves the problem of asymmetrical information in the used vehicle market by creating a decentralized, immutable, transparent, secure, and reliable vehicle lifecycle repository with a blockchain database that records all information pertaining to vehicles. For each vehicle, the information accumulates during the entire period of use. This history is transparent and accessible to everyone.

Accuracy of vehicle information is safeguarded by use of trustless distributed storage. This guarantees absolute reliability and security of data. Every day hundreds of thousands of used cars are sold in the world, and each buyer wants to get reliable information about the technical condition of the car. This is an important security, financial, and safety issue.

How it works:

An ask for information is gotten.
The whole chain is hunting down significant information.
Reports are made and given in an organized shape.
Members of the important registry get an expense for giving data.

Whenever asked for, the data compared to the particular VIN number will be looked, chosen, and maneuvered into a report in the blockchain. Each record will have data about information supplier, date, VIN and utilization of the auto. Purchasers and vendors of utilized vehicles will both advantage from the expulsion of data asymmetry on the utilized auto advertise.

Project Objectives

Vinchain has 3 main objectives it seeks to achieve with the project:

Create a block with different levels of access and information protection. Data security level should correspond to the needs of government agencies.
Unite the participants in the automotive industry, such as manufacturers, insurance companies, dealers, service stations, developers of navigation systems, into a single ecosystem for data exchange purposes.
Create an infrastructure and provide direct access to the database for each market participant.

Token VIN

The VIN Token is designed to use it as a payment facility that will ensure a stable betting rate and facilitate payments. When requesting information on the VIN code, the client will pay the tokens of the system, and also they will receive information providers.

To date, developers are working to conclude agreements with dealers, insurance companies, banks and manufacturers. In February 2018, a mobile application will be released, in March - the launch of a test version, and from March 22, 2018 to April 15, 2018 - ICO.

Payment methods for VIN tokens: Bitcoin (BTC), Ethereum (ETH), Riple (XRP),

Litecoin (LTC), Waves (WAVES), USD, EUR, GBP. There will be 600 million tokens available.