About VinChain
VinChain is a blockchain database that records all information pertaining to vehicles. For each vehicle, the information is accumulated during the entire period of use. This story is transparent and accessible to all. To protect the accuracy of information, distributed storage technology is used. This guarantees absolute reliability and data security. Hundreds of thousands of used cars are sold worldwide every day, and every buyer wants reliable information about the technical conditions of the car. This is a major security, financial and safety issue.
Unfortunately, there is no single database for cars. There are commercial bases, but they do not solve this problem. Your information is stored centrally and may be inaccurate. The trading bases are closed and do not exchange information between them. As a result, the car buyer risks his or her own safety and loses money.
Solutions Offered
The VinChain project solves the problem of asymmetric information in the used vehicle market by creating a decentralized, immutable, transparent, secure and reliable vehicle life cycle repository.
VinChain is a blockchain database that records all vehicle-related information. For each vehicle, information is collected throughout the period of use. This story is transparent and accessible to all.
To protect the accuracy of information, distributed storage technology is used. This guarantees absolute reliability and data security. Hundreds of thousands of used cars are sold worldwide every day and every buyer wants reliable information about the technical conditions of the car. This is a major security, financial and safety issue.
Unfortunately, there's no database of cars. There are commercial bases, but they do not solve this problem. Your information is stored centrally and may be inaccurate. The trading bases are closed and do not exchange information between them. As a result, the car buyer runs the risk of losing his or her own safety and money.
How It Works
On request, the information corresponding to the requested VIN number is searched for and selected in the block chain. Each record contains information about the data provider, the date, the VIN and the use of the vehicle.
Basic use and economy of the client Vinchain intends to implement a token to smooth the processing of automatic information requests in the VinChain system. An end user pays VinCoin for any information related to a Vin number currently stored in the chain. The information queries are designed to be based on a very simple symbolic economy for the client facing aspects of the payment system. To have a successful token system, you need to use simple economics. The most common way to implement a system is to make end users understand the process so well that they can trust it.
Market volatility should be linked to the fluctuation of car history data and not to speculation. The VinChain token will primarily be a utility or utility token used to create a stable transaction rate and allow for the payment of liquidity fees and profit distributions to all information providers. The initial price of the pre-ico token is $0.03, the price of the token is $0.05 and long-term transaction fees are expected to reach at least $3 per transaction. Compared to current competitive rates, this $3 rate can easily be seen as a 98% savings compared to history queries for similar brand of car.
By implementing a low friction solution, we can offer a comparable product at a fraction of the cost. Unlike traditional vehicle history options, certified mechanics and other actors in the control chain will be able to provide long-term vehicle information that was previously overlooked due to lack of insurance coverage.
Over time, as more information providers are verified, VinChain will allow for more widespread information about car stories.
Objectives of the Project
Create a block with different levels of access and protection of information. The level of data security should correspond to the needs of government agencies.
Bring together participants in the automotive industry, such as manufacturers, insurance companies, dealerships, service stations, navigation system developers, in a single ecosystem for data exchange.
Create an infrastructure and provide direct access to the database for each market participant.
RoadMap
February 2017: development of the concept.
The founders are studying the ability of blockchain technology to collect and store information; first prototypes are being developed.
October 2017: approval
of the White Paper and the project concept. Issuance of the White Paper, collection of community feedback, concept and development of the workflow diagram based on the data collected.
November 23, 2017 pre-sales cards to early-stage investors
From 1 December to 24 December 2017: VinChain pre-ICO. Pre-ICO
VinChain will run from December 1 to December 24, 2017 until the required amount is collected.
March 2018: MVP Testing Launching of the MVP Test
products
From 22 March to 15 April 2018: Launch of ICO VinChain, ICO. The main objective during this period is to sell tokens in the form of
qualitative and trouble-free.
16 April 2018: sale of tokens
Once the ICO is completed, procedural tokens will be issued to the investors.
April 20, 2018: product development and optimization, release of new versions
Fourth quarter of 2018: completion of work on the VinChain project.
About Token and ICO
Symbol: VIN
Supply: 1.000.000.000.000 VIN
For Sale: 600.000.000 VIN
Issuance fee: No new tokens will be created
Price: 1 VIN = 5 cents
Currencies accepted: ETH, BTC, XRP, LTC, WAVES, USD, EURO
Sales Period: March 22, 2018 14:00 UTC through April 15, 2018 14:00 UTC
Date of token distribution: April 17 to April 29, 2018
Minimum target: $5,000,000
Maximum target: $34,500,000
Team
Alex Miles - Project Manager. Founder of Mealful LLC.
Elena Krasenkova - Sales Manager at A Better Bid Car Auctions LLC, increased monthly sales by 150%.
Alexey Listopad - Director of Marketing. Bought 9 projects, including an auction for a better deal in the U.S. market.
Andrey Krainik - founder of Easyexport.us, one of the top 10 companies in the inc. 500 with an annual turnover of over $45 million
Jurgis Plikaitis - CEO and founder. Online expert in the field of automatic auctions. Serial entrepreneur. 500 million in total revenue from established companies.
Links of Interest
Website: https://vinchain.io/en
Twitter : https://twitter.com/VINChain_io
Facebook : https://www.facebook.com/vinchainio/
Telegram : https://t.me/vinchainio
Blog : https://vinchain.blogspot.com.ng/
News Source: https://medium.com/@VINChain
Github : https://github.com/VINChain
Bitcointalk : https://bitcointalk.org/index.php?topic=2349186.0