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Vinchain Platform Decentralized Vehicle Histort

Hello everyone, you guys meet with me again today. Today I will doing a review for Project Vinchain. For your information Project Vinchain is focused on Automotive and Marketplace.  By looking at two factors we already knew that their Project is all about Buy and Sell vehicle, used vehicles for more precise. From the data I gathered, thanks to the world population growths the needs for vehicle were rising from year to years.  Also in advanced nations, vehicle is even becoming the people’s primary needs. Everyone who had a high pay-rate for their job will usually changes their cars once in every year, selling their used car to buy a brand new one.  As a result we see a lot dealers or places that sells used cars. On the other side the used cars sales industry is facing  problems. The problem does not come from people's interest to buy used vehicles. Because every year car used car sales continue to gain profit. The problem is the average standard price for each used vehicle. buyers did not want to spend more money because they didn’t know which vehicle is the  good or bad one, so they prefer to pay less. This reduces the average price of the vehicle. Because of lower average prices, most cars that were sold more are the one that is not qualified, so those who sell good cars left the market. As a result, the average quality of goods on the market continues to deteriorate, and the average number of buyers willing to pay will drop proportionately. This cycle will continue until buyers stop buying cars because they will assume that all cars in the market is in poor condition. As a result, this will lead to a loss of the market as a whole, This is the nature of the market with asymmetric information.

That’s why we needs a platform to increase the trust of buyers so they want to pay the car with appropriate prices. And Finally, after a long wait we have a  Platform that can solve the problem  that we had faced in used cars marketplace, the platform name is VinChain.


VinChain is a blockchain database that records all information related to the cars. For each cars, information accumulated during this usage period is transparent and easily accessible to everyone. The VinChain project solves the asymmetric information problem in used or secondhand vehicle by creating decentralized, unchanged, transparent, secure , and reliable vehicle lifecycle repository.

The Vinchain platform aims to connect the automotive industry such as manufacturers, dealer insurance companies, workshops, navigation system developers and all components involved in the industry. Vinchain can make it easier for someone to access the data directly to the database of every market participant. That way there is no more time wasted because everything will be done based on how Blockchain works.

Every day hundreds of thousands of used vehicles are sold worldwide, and every buyer wants to get reliable information about the technical condition of the car. This is an important issue of effeciency, financial, and security. Unfortunately there is no single used vehicle database. There is a commercial base, but it does 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. Consequently, car buyers are at risk of losses more than they could gain.


Benefits of using VinChain blockchain technology:
1. Blockchain can store information about vehicle maintenance.
2. Opportunity to adjust access levels for different users.
3. A transparent reward system for data suppliers.
4. provide an opportunity to connect directly with market participants.
5. Data protection from theft.

How the Vinchain Platform worksVinchain provides services within web and mobile apps. This service works through Vinchain approved registrations and buyers are allowed to check vehicles using Blockchain - the availability of passports by entering VIN number of vehicles. This service will later verify the buyer's request by checking the availability of data and this report will be provided free of charge and if the buyer is satisfied with the information provided then the buyer can purchase the complete report. Buyers can make payments and receive the full version of the vehicle history.

This application will also be made for manufacturers, dealers and insurance companies. Vinchain web and mobile applications also provide car maintenance services, the best refueling workshops, car wash, find parking lots and even discount services for auto repair shops. This application will also provide assistance in matters relating to driving, and an economical way of driving in terms of premium charging even this application comes  with navigation.

Vinchain Token (VIN)
Vinchain tokens (VIN) can be used as accident payments and car damage and excessive token usage can be sold on the exchange.  VIN is a token created using a Blockchain Ethereum network. VIN token will also be used for payment to see the full version of vehicle maintenance history.

Below I’ve provided detailed information about VinChain’s ICO event to sell VIN tokens.
  • Token Symbol: VIN
  • Price: 1 ETH = 20,000 VIN
  • Total Supply: 1,000,000,000 VIN
  • Distribution for ICO: 60% = 600,000,000 VIN
  • ICO Start: February 1, 2018 - April 15, 2018
  • Token Type: ERC20
  • Receive: ETH, BTC, LTC
  • Softcap: 3300 ETH
  • Hardcap: 23.250 ETH
I’d suggested to buy VIN tokens because their ICO will end soon. My advice is to buy when their ICO is in progress don’t buy when their tokens have been registered in the market. Because when the ICO takes place you will get a bonus purchase that you will not get when the VIN token is registered in the market.

Conclusion:With the Vinchain Project is expected to raise the average standard price of used vehicles. Because by increasing buyers' trust in the vehicles they are interested in, they will easily pay more. I think the Vinchain Platform is an innovative platform because it can solve the chain of problems that the used vehicle sales industry is having. Those who wouldn’t buy a vehicle may think, data about the car condition history   is something that is not important. If you are a someone who wants to buy a used vehicle it is an important to know the information about the car because we could know the history of the vehicle whether the vehicle is good or bad. Good vehicles must always do routine maintenance. And with VinChain we could know how many times the vehicle is damaged etc.

If you want to find the latest information about this project you can visit one of the links below:

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