VinChain is a blockchain database that records all information pertaining to vehicles whereby the information accumulates during the entire use period. This history is transparent and accessible to everyone and also protected by the technology of distributed storage which guarantees absolute reliability and security of data. VinChain operates based on blockchain technology whereby every car own its specific blockchain passport, which will be stored in a distributed registry. The VinChain project will unite all data providers and create a continuous history of the car, devoid of the disadvantages of centralized databases.
VinChain is basically a decentralized database that contains the vehicle information collected from insurance companies, leasing companies, government/private registries, etc. As the information is stored on the blockchain, it can’t be erased or modified which makes the vehicle history 100% trusted. The VinChain platform also provides the option of capturing live information about the vehicle using a compatible OBD device. The heart of the VINChain platform is VINChain tokens, which are special utility tokens based on ERC20 standard. What is the use of VINChain tokens? These tokens are used by the buyers to access the history report of the vehicle. Users can also earn tokens for sharing their car data with the VINChain platform. VinChain is the world's first decentralized international car data market. This project solves the problem of asymmetric information in the field of used vehicles by creating a transparent, safe and reliable history of its life cycle. Vinchain intends to implement a token to smooth the processing of car information queries on the VinChain system. An end user will pay VinCoin in exchange for all information related to a vin number that is currently being stored on-chain. The information queries are designed to rely on extremely simple token economics for the client facing aspects of the payment system. In order to have a successful token system currently, it’s necessary to leverage simple economics. Vinchain long term goal is to leverage the economic control of having a usage coin in order to eventually reach a relatively stable token price relative to traditional state-backed currencies.
VinChain goal and objectives:
Change the world market of used cars, make it honest, transparent, reliable, with the same opportunities for access to information for each of the participants.
Create a system with different levels of access and information security. The level of data security must meet the requirements of government agencies.
Combine participants in the automotive industry, such as manufacturers, insurance companies, dealers, service stations, developers of navigation systems into a single ecosystem for data exchange.
Create an infrastructure and provide direct access to the database for each market participant.
CHANNELS
HOW VINCHAIN WORKS
When requested, the information corresponding to the requested VIN number will be searched and selected in the blockchain, and
Each record will have information about data provider, date, VIN and the use of the car.
TOKEN SALE DETAILS
The symbol is VIN;
The name is VIN token;
The standard is ERC-20;
Platform - Ethereum;
Total number of tokens: 1 billion;
Available for purchase: 600 million;
The maximum target is $ 34.5 million;
The minimum target is $ 5 million;
Minimal purchase - not specified;
Purchase method: ETH, BTC, XRP, LTC, WAVES, USD, EURO
PreICO
Available for purchase: 12 million;
Begins on December 1, 2017 and ends on December 24, 2017
ICO:
Will begin on March 22, 2018 and finish on April 15, 2018
TOKEN DISTRIBUTION PATTERN
The distribution pattern of Genesis block in VinChain Network will include 1,000,000,000 utility tokens.
• 600,000,000 => are distributed among ICO members;
• 250,000,000 => are reserved among founders, consultants and other members of the team with a sale restriction of 2 years;
• 137,500,000 => are reserved with a sale restriction of 2 years;
• 12,500,000 => are reserved for early investors with a sale restriction of 3 months after ICO ending
FUND ALLOCATION
• Project development
VinChain product and VinChain Network infrastructure development
• Activity expenses
• Accounting expenses
• Study
• Recruitment
• Other administrative goals
• Marketing expenses
• VinChain, VinChain Network and VinChain Power Plant development
• Law expenses
Legal Service expenses, organizations setup and their activity, chosen as service providers for VinChain Network.
• VinChain Power Plant development and developers’ platform promoting. Partner’s projects integration.
MEET THE TEAM
ROADMAP
Kind Regards, ensure to join this incredible project.
CHEERS
For more details, click/follow the links below:
OFFICIAL WEBSITE: https://vinchain.io
WHITEPAPER LINK: https://vinchain.io/files/VinChainVehicleHistory.pdf
OFFICIAL BITCOINTALK ANN THREAD: https://bitcointalk.org/index.php?topic=2349186.0.all
OFFICIAL FACEBOOK PAGE: www.facebook.com/vincoinio
OFFICIAL TWITTER PAGE: https://twitter.com/VINChain_io
OFFICIAL TELEGRAM CHANNEL: https://t.me/vinchainio
OFFICIAL BLOG PAGE: https://vinchain.blogspot.com/
Author: Martilda
Profile link: https://bitcointalk.org/index.php?action=profile;u=1887582
Eth addres: 0xd0D5d98857192B3931c831b7B809D47CD830da32