The number of cars and equipment in production and circulation increased exponentially and a large number of investors have indicated interest in the industry over time. Analysts have found that a large number of vehicles are not sold to consumers that really need it because of the lack of trust from the buyer. While the seller had knowledge of the vehicle, for example, buyers only buy with faith, thus paying less because the probability that such vehicles may not correspond to the prices given are offered. As a corollary, the market gradually depreciates in value as more issues related to religion appear every day because of the nature of the market that is not symmetrical.That is why the Vinchain Project is here.
Vinchain is the warehouse decentralized vehicle life cycle, undeniable, invisibility, protected, and last a long time. Blockchain this is a database that records all information relating to the vehicle. For each vehicle, the information accumulated during the entire period of use.
Vehicles are very integral part of human life. Vehicles are generally ubiquitous; found in places ranging from less developed countries too much developed and technologically inclined nations. The various dealings in cars can’t be overstated. Surprisingly, even though the major target of the advertisements concerning cars is majorly at the new cars, more sales come from the used cars. In the USA for instance, three out of every four cars purchases are essential purchases of used cars.
VINchain proves to bolster the viability of this market, indemnifying it by incorporating the basic strategy of reliability, consistency, and transparency of the market. There is more to this project that meets the eye, VINchain seeks to provide a decentralized, tamper-proof blockchain that comprises of a securely guarded vehicle lifecycle repository where information concerning a vehicle can be easily accessible by all participants of the VINchain ecosystem spanning from buyers to sellers.
The information concerning the vehicle which is tagged the “blockchain-passport” would be related to a “ Vehicle Identification Number (VIN)” on the blockchain. Information regarding a particular vehicle would search out from the blockchain. Interestingly, the integrity of the platform is put in constant check as the database would be constantly audited to validate the authenticity of the information on it.
HOW IT WORKS
Overly, the utmost motive of these strategies is to secure trust in the ecosystem and create a healthy marketplace for both buyers and sellers such that the technical condition of the vehicle is ascertained and buyers are bound to pay well for the vehicle leading to a proper valuation of the general marketplace. Pivotal features of the ecosystem include; A web platform and a mobile app The web platform would be the gateway to accessing the database for information related to a vehicle but the mobile app has a lot of benefits such as improving your general driving patterns by analyzing driving patterns. As an ICO start-up, one inevitable part of the ecosystem is tokenization.
ABOUT ICO AND TOKEN SALE
The VIN tokens, an ERC-20 utility token would be used to gain information, earned for participation in the ecosystem or traded on exchanges. There is an on-going public sale of this tokens; Price: 1 ETH = 20,000 VIN + % discount with a bonus stage
Soft cap: 3,300 ETH
Hard cap: 23,250 ETH
Currencies accepted include ETH, BTC,-XRP, LTC, WAVES, USD and EURO.
The first phase of Pre–ICO held on November 23, 2017for the early birds.
Minimum cap goal set at $5, 000, 000 USD and maximum cap postulated became $34, 500, 000 USD.
Pre-order the ICO will commence on December 1, 2017, and will end on December 24, 2017.
Pre-ICO funds will be distributed as shown in the diagram below.
ICO or main sales event will begin on 22 March 2018 and end on April 15, 2018.
For more information visit the links below
ANN Bitcointalk https://bitcointalk.org/index.php?topic=2349186.0.all