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VinChain – 100% Trustworthy Vehicle History on the Blockchain

VinChain is creating a worldwide decentralized database of vehicle information that is 100% transparent, reliable, and accessible by everyone. This database is blockchain based, which will guarantee that the information in it has not been faked, changed, or deleted. The blockchain guarantees full transparency and builds trust in the system. Information is captured from country registries, insurance and leasing companies, different partnered services, private registers, paid APIs, and certified members. Information is also captured directly from the vehicle, so the data is live and updated in real time. Their platform is an open system and anyone can join and benefit from their network. VinChain will provide you with 100% reliable and accurate information about the car you’re going to buy, so you can be absolutely sure that it’s safe to drive!

Project Objectives

1 Create a block with different levels of access and information protection. Data security access level should meet the needs of government agencies.
2 Unite participants in the automotive industry, such as manufacturers, insurance companies, dealers, service stations, and developers of navigation systems into a single ecosystem for data exchange purposes.
3 Create an infrastructure and provide direct access to the database for each market participant.

How It Works

When requested, the information corresponding to the specific VIN number will be searched, selected, and pulled into a report in the blockchain. Each record will have information about data provider, date, VIN and use of the car.
VINchain intends to implement a token to smooth the processing of car information queries on the VINchain system. An end-user will pay VIN tokens in exchange for all information related to a VIN number that is available on-chain. The information queries are designed to rely on extremely simple token economics for the client-facing aspects of the payment system.

VINchain App

During the process of development, a mobile application and website will be created for dealers, insurance companies, and manufacturers, in addition to a flexible API.
The application will have extensive utility, as it will provide users with the best offers on car maintenance, discounts on service, and even assist in refueling and washing. Additionally, the app will help find a vehicle in a huge parking lot, or even remotely control their vehicle ! The application will also collect statistics pertaining to personal driving style, tell the user how to drive more economically, and offer discounts on insurance premiums! Keeping all of this collected information on the blockchain will confirm its reliability and allow owners to increase the value of their car at the time of sale!

Token description

The VINchain token is a utility token. VINchain tokens do not represent or confer any ownership right or stake, share, security, or equivalent rights, or any right to receive dividends, other payments, intellectual property rights, or any other form of participation in or relating to the project described in this white paper and/or in VINchain or any of its affiliates. Pre-ICO: December, 1st – 24th 12,500,000 tokens will become available for placement with the sale prohibition during 3 months after the ICO is over. Tokens emission and sale on ICO will be held from February 1st through April 15th, 2018. Several payment methods are available for VINchain tokens:
– Ethereum (ETH) – Preferred currency
– Bitcoin (BTC)
– Litecoin (LTC)
– Dash (DASH)
Available for placement: 600,000,000 tokens.

For more information, visit the Website or read the Whitepaper.
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