Review of ICO VinChain.
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 is a unique database on the block, storing all the information on the car, which accumulates during its operation. To protect the unchanged information, the technology of distributed storage is used, which guarantees absolute reliability and data security.
Goal
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.
Problems and solutions
Problems:
- The buyer can not be sure of the quality of the car, therefore, for his own insurance, he pays less, which reduces the average price of vehicles.
- Because of the understated price, the average quality of most cars sold is deteriorating, so those who sell good cars are leaving the market.
- Consequently, the average quality of goods on the market is further deteriorating, and as a result, buyers are willing to pay even less than before.
- So the price of the car falls again.
- Now, middle-class car sellers are forced to leave the market.
- The quality of cars is deteriorating again, and the average amount that buyers are willing to pay, respectively, falls. This cycle will continue until the purchase of cars does not stop at all, because of their poor quality.
- As a result, this will lead to the complete disappearance of the market. it
typical for markets with asymmetric information.
Solution:The VinChain project solves the problem of asymmetric information in the field of supported cars by creating a decentralized, unchanged, transparent, safe, and reliable history of the vehicle's life cycle.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.
Advantage
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!
How does it work
Upon request, the information corresponding to the requested VIN number will be selected from the database of the blockbuster. Each entry will contain information about the data provider, date, VIN and machine usage data.
Details of ICO
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, EUROPreICO
Available for purchase: 12 million;
Begins on December 1, 2017 and ends on December 24, 2017ICO:
Will begin on March 22, 2018 and finish on April 15, 2018Token distribution:
600 000 000 - ICO;
250 000 000 - are reserved among founders, consultants and other members of the team with a restriction on sale for 2 years;
137 500 000 - are reserved with a restriction on sale for 2 years;
12 500 000 - reserved for early investors with restriction of sale 3 months after the end of ICO
More information can be found here: