VINCHAIN PLATFORM: vehicle history on blockchain.

VinChain is a blockchain database that records all information pertaining to vehicles whereby the information accumulates during the entire use period. This history is transparent and accessible to everyone and also protected by the technology of distributed storage which guarantees absolute reliability and security of data. VinChain operates based on blockchain technology whereby every car own its specific blockchain passport, which will be stored in a distributed registry. The VinChain project will unite all data providers and create a continuous history of the car, devoid of the disadvantages of centralized databases.

VinChain is basically a decentralized database that contains the vehicle information collected from insurance companies, leasing companies, government/private registries, etc. As the information is stored on the blockchain, it can’t be erased or modified which makes the vehicle history 100% trusted. The VinChain platform also provides the option of capturing live information about the vehicle using a compatible OBD device. The heart of the VINChain platform is VINChain tokens, which are special utility tokens based on ERC20 standard. What is the use of VINChain tokens? These tokens are used by the buyers to access the history report of the vehicle. Users can also earn tokens for sharing their car data with the 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 intends to implement a token to smooth the processing of car information queries on the VinChain system. An end user will pay VinCoin in exchange for all information related to a vin number that is currently being stored on-chain. The information queries are designed to rely on extremely simple token economics for the client facing aspects of the payment system. In order to have a successful token system currently, it’s necessary to leverage simple economics. Vinchain long term goal is to leverage the economic control of having a usage coin in order to eventually reach a relatively stable token price relative to traditional state-backed currencies.

VinChain goal and objectives:

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.

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