Going a bit down memory lane, I published my previous article on project VINchain which can be accessed via this https://steemit.com/automobile/@phillip-olamide/vinchain-car-repository-to-revolutionalize-the-used-vehicle-industry
I have dug deeper into the project and found more benefits and more information about the platform which would be explained expressly.
Like I previously stated, VINchain is a car repository which simply implies that it would contain information such as current and past owners, accident history, odometer readings and much more pertaining to a vehicle which would be accessible by a 17 digit code known as the vehicle identification number(VIN). With this number containing these vital information(which would be constantly audited to test for its legitimacy and veracity) it can be easily discerned that the cloak that has consumed the used car market would be removed and the Used car market would be more transparent, secure and legal.
Lets dive fully into the advantages of the platform:
First of it will employ the use of blockchain which is factually known to be indisputable, immutable, tamper proof and resilient to hack and attack. Sources providing the vehicle history would enjoy a form of rewarding system to ensure the information they offer would be very credible.
Secondly and more importantly, the features of the platform which are:
The Mobile platform for the every day user which will enable them get maintenance, refueling, repairs, washing and insurance services. Another exciting benefit of the platform is earning the platform’s VIN tokens and discounts being changed for the VIN tokens. Analyzing of users driving patterns to create suggestions of more efficient driving styles is very possible with the mobile app.
The web platform specialized for manufacturers, insurance companies, car dealers and other organizations although it is equally accessible by users but is basically to increase sales, reduce costs and improve the efficiency of data processing, analyzing them and compiling reports on the operation of the vehicle.
Vinchain will possess installable hardware devices that can be used to collect and deliver data real time to the VINchain database. This can also aid monitoring the state of the vehicle to give driving assurance.
VINchain has an open API that permits integration of vehicle data on other platforms.
The ERC-20 token VIN is what would be used on the VINchain platform. It is equally a utility token that would be sold during the ICO
End date: 15th of April, 2018
Accepted payment methods: Bitcoin (BTC)
· Ethereum (ETH)
· Riple (XRP)
· Litecoin (LTC)
· Waves (WAVES)
· USD, EUR, GBP
Available for placement: 600,000,000 tokens.
Tokens to be distributed 72 hours after ICO
Tokens would be sold in 7 different bonus stages currently selling is stage 4 with 15% bonus.
Softcap of 3300 ETH reached
Amount of ETH collected so far: Over 8800 ETH
Hardcap: 23250 ETH
Vinchain has a large and growing member base with over 20k collective users over their Telegram, twitter and facebook.
It equally has recognition from various ICO ratings platform as one of the best in 2018, the likes of ICO mark, ICO bench ratings and ICO track ratings amongst others.
ROADMAP in a glimpse…
There is a live alpha version that is undergoing testing, you can go check it out.
Other major highlights upcoming are:
June 2018- Vinchain Beta testing
3rd quater of 2018: Spreading VINchain throughout USA
4th quarter: Spreading VINchain throughout Europe.
January 2019: VINchain data analytics.
For More information about this project, visit the following links:
Whitepaper: https://vinchain.io/files/ VinChainWhitePaper.pdf
Ann Thread: https://bitcointalk.org/index.php?topic=2349186.0
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1087606;