VINCHAIN - Decentralized Data Storage System

The price of cars getting more expensive, coupled with the high tax prices to make many people who had wanted to buy a car so feel burdensome. This burdensome situation is greatly felt by people who have poor financial condition. Therefore, now many people are turning to used cars than trying to buy a new car. Because the car is not an investment product, the price will always go down when it is used. The price is likely to be much cheaper than the new car attracted many people to start buying used cars.

However, this market for used vehicles has a lot of issues - and most of them have proven their negative effects on all of us, as both sellers or buyers, on multiple occasions.Generally, when you hear the word 'secondhand', we immediately imagine the car that the quality is bad and very old, but actually not all used cars like that. There are also many used cars with good quality even looks like new. You just have to be jelly before buying. When buying a used car, there are many things you should look into, one of which is about the history of the car. This is an important part to avoid losses that may arise in the future.

The main aspects that can affect the condition of the car that has been the occurrence of accidents, high mileage, the number of owners, not knowing or difficult to find a mechanical problem. All of these elements can be forged or hidden from potential buyers (along with many other important types of information). The authorities barely disclose this type of data to the public, and even if they do, most of the time is unreliable or out of date. This creates an environment of distrust and uncertainty, which affects all participants in the market.

The VinChain project will solve the problem of asymmetric information in the field of cars supported by creating a decentralized, unchanged, transparent, secure, and reliable history of the life cycle of vehicles. VinChain - a database on the block, which stores all information related to the vehicle. Information on each vehicle accumulates throughout its life cycle. This story is absolutely transparent and accessible to all. To protect the immutability of information, the technology of distributed storage is used. This ensures absolute reliability and data security.

VinChain is a new and innovative platform that offers a solution to this problem by leveraging the power of the blockchain technology. The VinChain project wishes to unite all data providers and give the user a complete uninterrupted vehicle record. All without the disadvantages of a centralized database. Consumers can also significantly increase the value of their automobiles at the time of the sale by contributing to the repository of data on the blockchain with the help of vehicle tracking devices. VinChain is a decentralized network that permits its users to store VIN data on the blockchain - this guarantees complete data and variability. Users can also pay for requests on the blockchain with VinChain tokens; after which the tokens will be distributed between information providers, depending on the value of the respective data shared with the community.

No one will be able to change or forge information about the condition or the use of a certain car. With accurate information, the roads will be safer all over the world. It is going to develop a community that is based on trust, for dealers, united by the desire to make the market more transparent to customers.

VinChain is the creation of a worldwide decentralized database of vehicle information that is 100% transparent, reliable and accessible to everyone. This database is a block account that will ensure that the information in it is not tampered with, changed or deleted. Blocking guarantees full transparency and trust in the system.

Data from national registers, insurance and leasing companies, various partner services, private registers, paid API and certified members. The information is also displayed directly from the vehicle, so the data is live and updated in real time.

Our platform is an open system, and anyone can join and take advantage of our network. VinChain will provide you with 100% accurate and accurate information about the machine you are going to buy, so you can be absolutely sure that it is safe to drive!

For more information about VINCHAIN and to learn more about it, you can go directly to the official website and whitepaper

Author; washing.machine

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