The development of cryptocurrency world with Blockchain technology is increasing. The increase in cryptocurrency users has reached 20 million of Internet users 2.4 billion. The increase will certainly have an impact on companies that use blockchain technology. As one example VinChain which utilizes blockchain technology for blockchain that records all information related to the vehicle.
In this article, the author tries to discuss about Vinchain Platform:
- PROBLEMS
- What is VinChain?
- The purpose of VinChain
- How does VinChain work?
- VinChain provides solutions
- VinChain app
- Benefits of using blockchain technology from VinChain
- Token sales info
- Team
1 . PROBLEMS
Problems noted Experts give By described George Akerlof Nobel Peace in his published scientific paper 'Market for' Lemon ': Quality of Uncertainty and Market Mechanism' IN 1970. He describes the functioning of pass One party sticks (sellers) industry knows ABOUT More, Many Products than the other party (buyer). This is also known as a "pass with asymmetric information". Passing a used car is an example. When selling a car, the seller knows a lot of information about the buyer's vehicle. This is a problem for today's customers.
The VinChain project solves the asymmetric information problem in the used vehicle market by creating a decentralized, unchanged, transparent, secure, and reliable repository of vehicles.
2 . What is VinChain?
VinChain is a blockchain database that records all the information associated with a vehicle. For each vehicle, information accumulates during the entire period of use. This story is transparent and easily accessible to everyone. To protect the accuracy of information, distributed storage technology is used. Ensures absolute reliability and data security. Every day hundreds of thousands of used cars are sold in the world, and every buyer wants to get reliable information about the technical condition of the car. This is a major security, financial and security issue.
Unfortunately none of the car data bases. There is a commercial base, but they do not solve this problem. Their information is stored centrally and there is an incorrect risk. The commercial base is closed and does not exchange information among themselves. As a result, car buyers risk their own safety and lose money.
3 . The purpose of VinChain is:
Change the global used car market by making it honest, transparent,
reliable and with equal access to information for each participant.
- Create blocks with different levels of access and information protection. The level of data security should be in
accordance with the needs of government agencies. - Unite participants in the automotive industry. Such as manufacturers, insurance companies, distributors, workshops,
navigation system developers, in a unique ecosystem for data exchange needs. - Create the infrastructure and provide direct access to the database for each market participant.
4 . How does VinChain work?
When requested, the information corresponding to
the requested VIN number will be searched and selected in the block.
Each record will have information about the data provider, date, VIN, and car usage.
When we receive a blockchain request, we search for data across chains and we create and transmit information in a structured form. Fees for information are received by members of the list whose information has been used. Both used sellers and buyers will benefit from the removal of asymmetric information from the used car market.
When the buyer knows all the information that exists about a particular vehicle, this will create confidence in the process and prepare to pay more. For sellers, publishing the entire vehicle history increases the value of the car at the time of sale. If the buyer knows the history of the vehicle's full operation, it has the assurance that the vehicle maintains a certain level of value. The same can not be said about vehicles without reports.
5 . VinChain provides solutions:
For each car we will issue a blockchain passport, which will be stored in a distributed list. The VinChain project will unite all data providers and create a sustainable car history, without losing a centralized database. Market participants, such as car manufacturers, car dealers, insurance companies, banks and leasing companies, require a history of exploitation and require transparency, affordability, reliability, and authenticity. Buyers who are currently choosing a car may also request our report immediately.
6 . VinChain app
7 . Benefits of using blockchain technology from VinChain:
- Blockchain can store information about vehicle maintenance
- Opportunity to adjust access levels for different users
- Absolute reliability
- A transparent gift system for data providers
- Opportunity to work directly with each market participant
- Resistance to network attacks
8 . Token sales info:
Token Role: Enable data trading between data owner and buyer
Symbol: VIN
Supply: 1.000.000.000 VIN
For Sale: 600,000,000 VIN
Rate of Emissions: No new token to be made
Price: 1 VIN = 5 cent
Currency Received: ETH, BTC, XRP, LTC, WAVES, USD, EURO
Sales Period: March 22, 2018 14:00 UTC to 15 April 2018 14:00 UTC
Distribution Date Token: April 17 to April 29, 2018
Minimum goal: $ 5,000,000
Maximum target: $ 34.500.000
9 . Team
let's join VhinChain, ..
For more information can be accessed on the link below:
Website: https://vinchain.io/en
Facebook: https://facebook.com/vinchainio/
Twitter: https://mobile.twitter.com/VinChain_io
Telegram: https://t.me/vinchainio
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