There are more cars in the world now than ever before - and we can see this daily, while we are driving to work, heading to school or doing the groceries. Our cities are more crowded than ever and we can barely find a parking spot. The reason is simple - there are hundreds of thousands of used vehicles sold in the world daily (leaving aside the sale of new cars). Many people choose a second-hand automobile for various reasons - it has an accessible price, the acquisition is faster than with new cars, the market is booming. 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.
As most of us already know, the primary concern of all the buyers is the reliability of the technical vehicle condition information of the purchased vehicle.
What are the main aspects that can influence a car’s condition?
The accidents it went through
High mileage
Multiple owners
Unknown or hard to locate mechanical problems
All of these elements can be falsified or hidden from the potential buyers (along with many other types of important information). The authorities hardly disclose these types of data to the public, and even if they do so, most of the time is unreliable or out of date. This creates an environment of mistrust and uncertainty, that affects all the participants in the market.
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.
Why will this project be successful?
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.
Do you want to learn more about the components of the VinChain ecosystem and the way they will affect different mechanisms and processes? Visit now the official website at https://vinchain.io/en and find out all the answers. Also, be sure to check the updated version of whitepaper at https://vinchain.io/files/VinChainWhitePaper.pdf.
Be part of this revolutionary solution and join the ICO now!