VinChain (VIN) can be defined as a decentralized international vehicle history data marketplace that works on blockchain. Token sale for Vinchain is LIVE NOW. Contribute now and get 25% bonus
VinChain will help in solving the issue of old data in the used vehicle market by building a decentralized, stable, transparent, safe, and trusted vehicle lifecycle repository with the help a blockchain database. For any vehicle, the information is collected during the complete period of use. This history is transparent and available to everyone.
How Does It Work?
All cars are issued a blockchain passport. Vinchain will combine all data providers and form a regular history of the car. When demand is made by a market or buyer, the data related to the requested VIN number will be examined and chosen in the blockchain. Every record will have data about vehicle provider, date, VIN and the features of the car.
Customer will pay VinCoin in exchange for all data which is related to a VIN number which might be stored on blockchain. For a consumer who wants to gain information from the VinChain the transactional prices will everytime be VinCoin. Market volatility should be linked to the variation of car history data and not estimates. As more data providers are tested, VinChain will enable for more broadly crowdsourced data on car histories.
VinChain App – Stay In Touch With Your Car
The VinChain app enables you to get the best offers to maintain the car, that will help you locate your car in a large parking, and you may also remotely control the vehicle! You will also obtain discounts on services such as maintenance, refueling, as well as washing
Drive With Confidence
The VinChain application can collect statistics that are related to your driving style and recommend methods to drive economically in order to conserve gas of the vehicle. This data may also be shared with your insurance company to decrease your premium by 30%!
With the use of the VinChain OBD tool, your car is always connected to the network. Due too which you will have constant, dependable information about your car, that includes real-time GPS data.
Vinchain basically has 3 main aims it seeks to achieve with the project,
1. Make a block having various levels of access and data protection. Data protection level should match with the requirements of government agencies.
2. Unite the members in the automotive industry, like manufacturers, insurance companies, service stations, developers of navigation systems, into a particular ecosystem for data exchange purposes.
3. Make an infrastructure and you can give direct access to the database for every market participant.
VinChain is making a global decentralized database of vehicle data which is 100% transparent, dependable, and available for everyone. This database is based on blockchain completely, that will assure that the data in it is faked, changed, as well as deleted. The blockchain ensures total transparency and helps in building trust in the system.
VINCHAIN – Final Verdict (Legit)
Automotive Blockchain ICOs are launched all over the place. Hence, if you’re willing to invest in blockchain based companies having unique applications, Vinchain is simply the best choice for you. It is one of the huge reason why you should go for this ICO which is giving the decentralized vehicle records globally. It is soon going to revolutionize this automobile industry.
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