Vinchain Project
Vinchain- is a decentralized system which involves a blockchain and consists of several smart-contracts in the perimeter of the block chain and its own crypto currency, And the platform is a system product created by a consortium of the most powerful, competent, and experienced logistic companies and organizations all over the world.
Vinchain 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 VinChain token will primarily be a usage or utility token leveraged to create a stable transaction rate and to allow fluid fee payments and profit distributions for every information providers.
The purpose is to create a block with different levels of access and information protection. Data security level should correspond to the needs of government agencies. And 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. Also create an infrastructure and provide direct access to the database for each market participant.
Challenges: Buyer cannot fully distinguish a good car from a bad one, so they are willing to pay less for the vehicle. This reduces the average price of the vehicle. And the because of the lower average price, most sold cars are of poorer quality, so those who sell good cars leave the market. And again by the average price of a car reduces even further. The sellers of medium-quality cars are forced to leave the market too. Where the quality of the cars will deteriorate again, and the average amount the buyers are willing to pay will fall in proportion. This cycle will continue until the buyers stop purchasing cars because they will assume that they are all of poor quality.
Solution: VinChain make it easy by making use of a blockchain database that records all information pertaining to vehicles. For each vehicle, the information accumulates during the entire period of use. Also to protect accuracy of the information, the technology of distributed storage is used. This guarantees absolute reliability and security of data. And Even 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.
Furthermore, By the commercial bases are closed and do not exchange information among themselves. As a result, the buyer of the car risks their own safety and losing money. VinChain we solves this problem with the help of blockchain technology. For each car, by issue a blockchain-passport, which will be stored in a distributed registry. The blockchain-passport of the car connected to the vin-code, placed in the VinChain blockchain system, at any time is available to any user and service provider who has access to the system.
Annual auto sales
How It Works: When searching for information corresponding to the requested VIN number selected in the blockchain, and each record will have information about data provider, date, VIN and the use of the car. It change the global market of used cars by making it honest, transparent, reliable and with equal access to information for each participant.
Finally; Vinchain are seriously working 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. Therefore, it is a long term goal of the project 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. In order to have a successful token system currently, it’s necessary to leverage simple economics.
Roadmap
February 2017: Concept development ,
The founders are studying the blockchain technology’s ability to collect and store information; first prototypes are developed.
October 2017: White paper and project concept approval
White paper issue, collecting feedback from the community, concept and work flow chart development based on the collected data
November 23, 2017: tokens pre-sale to early-stage investors
December 1 to December 24, 2017: VinChain pre-ICO. Pre-ICO
VinChain will be held from December 1 to December 24, 2017 until the required amount is collected.
March 2018: MVP testing
Product testing launched
Since March 22 to April 15, 2018: ICO VinChain, ICO launch. The key objective during this period is to sell tokens
qualitatively and without a hitch.
April 16, 2018: tokens sale
Once ICO ends, the procedure tokens will be issued to investors
April 20, 2018: product development and optimization, release of new versions
4th quarter 2018: work finalization on VinChain project.
More Information Connect to VinChain
Website: https://vinchain.io/en
Telegram: https://t.me/vinchainio
Facebook: https://www.facebook.com/vinchainio/
Twitter: https://twitter.com/VINChain_io
Authorized By:
Bitcointalk Username: bright4mech
Bitcointalk Profile link:
https://bitcointalk.org/index.php?action=profile;u=1298523
ETH wallet address: 0x6707A43E7c34E560828f2785Eb01A4b1327877C0