VINCHAIN

10 maret 2018

Project VinChain solves the problem of asymmetrical information in the used vehicle market by creating a decentralized, immutable, transparent, secure, and reliable vehicle lifecycle repository.

VinChain is 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. To protect accuracy of the information, the technology of distributed storage is used. 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. 

Unfortunately there is no single database of cars. There are commercial bases, but they do not solve this problem. Their information is stored centrally and there is a risk of it being incorrect. 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 Works

Since only seller is aware of the true condition of a salvage car, it’s not easy for the buyer to predict whether the car will truly be in a “good" or "bad" condition.

VinChain is the world’s first decentralized international automotive data marketplace. The VinChain team is working to ensure the complete transparency of a vehicle’s history.

Current Problems

Solution: VinChain

Project VinChain solves the problem of asymmetrical information in the used vehicle market by creating a decentralized, immutable, transparent, secure, and reliable vehicle lifecycle repository.

VinChain is 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.

To protect accuracy of the information, the technology of distributed storage is used. 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. Unfortunately there is no single database of cars. There are commercial bases, but they do not solve this problem. Their information is stored centrally and there is a risk of it being incorrect. 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.

Project goals

Change the global market of used cars by making it honest, transparent, reliable and with equal access to information for each participant.

Project Objectives

• 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.

Distribution of funds collected during pre-ICO

Token distribution

Token Sale

Role of Token              : Enable trade of data between data owners and buyers

Symbol                        : VIN

Supply                         : 1.000.000.000 VIN

For Sale                       : 600.000.000 VIN

Emission Rate             : No new tokens will be created

Price                            : 1 VIN = 5 cents

Accepted Currencies   : ETH, BTC, XRP, LTC, WAVES, USD, EURO

Sale Period                  : 22th March 2018 14:00 UTC to 15th April 2018 14:00 UTC

Token distribution date : 17th April to 29th April 2018

Minimum goal             : $5.000.000

Maximum goal             : $34.500.000

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.

ICO Description

Blockchain

The advantages of using the blockchain technology for VinChain: 

• Blockchain can store any information about the vehicle maintenance 
• The opportunity to adjust the access levels for different users 
• Absolute reliability 
• Transparent system of awards for the data suppliers 
• The opportunity to work directly with each market player\ 

Resistance to network attacks

Pre-sale​ ​of​ ​tokens​ ​for​ ​early​ ​investors 

Pre-sale: December, 1st – 24th 12,000,000 tokens will become available for placement with the sale prohibition during 3 months after the ICO is over. 

Tokens​ ​emission​ ​and​ ​sale​ ​on​ ​ICO. 

ICO will be held from March, 22d through April, 15th, 2017. Payment 

methods available for the VinChain tokens: 

• Bitcoin (BTC) 
• Ethereum (ETH) 
• Riple (XRP) 
• Litecoin (LTC) 
• Waves (WAVES) 
• USD, EUR, GBP 

Available for placement: 600,000,000 tokens. 

The tokens will be distributed between the buyers within 72 hours of the 

ICO finishing. 

Hard​ ​cap 

Maximum investment amount: $34,500,000.

For your information

Facebook: https://facebook.com/vinchainio/

Twitter: https://mobile.twitter.com/VinChain_io

Telegram: https://t.me/vinchainio

Website: https://vinchain.io/en